Author: BEX Staff

Sales Transactions 1. Irgang Group has purchased the 264KSF Gilbert Gateway Towne Center at Loop 202 and Power Road in Mesa for $85M. Simon Rosenfeld and Ariel Taieb of Meridian Capital Group arranged $60M in acquisition financing. The 35.5-acre site is fully occupied, with tenants including Mega Furniture, Ross Dress for Less and Michaels, among others. 2. AAA Cooper Transportation, an affiliate of Knight-Swift Transportation Holdings Inc., purchased a 34.6KSF former FedEx facility on 24 acres at 7160 W. Sherman St. in Phoenix for $30M. The seller was EQT Real Estate, which previously acquired the property in 2021 for $24.1M…

By Roland Murphy for AZBEX A pair of Arizona construction industry reports issued this week show construction costs may be starting to settle, even as the rate of activity normalizes following the recent extended period of growth. In its Phoenix Q4 2025 Cost Index, Mortenson reported nonresidential construction conditions remained steady in Q4, and cost escalations continue to moderate nationwide. Quarter-over-quarter price increases softened, but activity earlier in 2025 ensured the year-over-year growth remained elevated, as “persistent input pressures in select materials and labor categories” remain. “Nationally,” the report said, “nonresidential construction costs tracked by the Mortenson Quarterly Cost Index…

The Phoenix Zoo is planning a nearly 1,100-acre conservation safari park near Sahuarita and has entered into a ground lease with Freeport-McMoRan for several contiguous parcels near Interstate 19. The park could eventually be home to populations of both endangered Arizona-native species and animals from around the world, using expansive natural areas to support their populations. The park is currently unnamed, but Sahuarita Mayor Tom Murphy has been calling it “Sahuarita Safari.” He said he believes the park could serve as an economic generator for the town and the overall area and could help make Sahuarita a destination for both…

By Salt River Project To meet the growing power demands of the Phoenix metropolitan area, SRP has issued a 2026 All-Source Request for Proposals. The RFP seeks proposals for resources that can provide up to 2,900MW of nameplate capacity, including carbon-free energy resources like solar and wind, wind associated with new interstate transmission projects and proposals to meet peak capacity need including energy storage and natural gas resources. SRP will also welcome proposals for other resources and is particularly interested in exploring technologies that can provide carbon-free energy throughout the day, like geothermal and biomass resources. These projects should be…

An event celebrating the release of $52M to the Bureau of Reclamation for improvements to Hoover Dam was held on Feb. 20. The funding was allocated under the U.S. Department of the Interior’s omnibus appropriations bill approved in January. The money, which was originally collected from ratepayers, had previously been held in an inaccessible account. The original intent was to use the funds for dam employee retirement benefits, but that program has since been funded elsewhere. Hoover Dam provides power to utilities in Arizona, Nevada and California, but low water levels have made it less reliable in recent years than…

Awards & Accolades 1. Camelot Homes earned a Gold Award for Best Attached Model Home at the 2025 National Association of Home Builders’ “The Nationals” for The Retreat, a luxury condominium community in Scottsdale. The builder also received Silver Award honors for Best Interiors of a Custom Home and Best One of a Kind Home for The Gallery at The Collection model home. Groundbreakings 2. The Arizona Cardinals Football Club held a ceremonial groundbreaking for its more than 250KSF performance center and team headquarters on 30 acres in the 217-acre Paradise Ridge site west of Scottsdale Road and north of…

Following a petition rejection from the Marana Town Clerk, opposition group Arizonans for Responsible Development has ended its efforts to put two referenda on the project before voters. Editor’s Note: Arizonans for Responsible Development is sponsored by the labor union-affiliated political group Worker Power. AZBEX has extensively covered Worker Power’s efforts to influence various development projects around the state. Much of our reporting is available here. The Marana Town Council approved rezoning more than 600 acres on two roughly 300-acre parcels in January that will allow developer Beale Infrastructure to build out its planned data center campus. One parcel is…

By Roland Murphy for AZBEX A mostly vacant 3.4-acre infill site near the NEC of 67th Avenue and Paradise Lane in Glendale could soon become a 57-unit specialized apartment community catering to the intellectually or developmentally disabled. The non-profit One Step Beyond, Inc. is requesting a minor General Plan amendment and rezoning to enable construction of Nikki’s Next Step. The project narrative’s introduction says, “One Step Beyond, Inc. is a 501(c)(3) Arizona nonprofit corporation founded in 2003 with a mission to provide dynamic programs to individuals who have intellectual or developmental disabilities and their families so they may achieve full…

By BEX Staff for AZBEX Charter school operator American Leadership Academy wants to develop a new charter school east of Casa Grande on 190 acres at the SEC of McCartney and Cox roads east of the Interstate 10 interchange. A local news outlet reported the organization has submitted landscaping and site plans to Pinal County for review. According to the ALA website, the Casa Grande location is planned for a fall 2027 opening. The site says, “American Leadership Academy has built 21 successful schools in Arizona where families have come to recognize our school as a leader in education. ALA’s…

Arizona Attorney General Kris Mayes is appealing the Arizona Corporation Commission’s approval of an energy agreement between Beale Infrastructure and Tucson Electric Power for Beale’s Project Blue data center development near Tucson. The approval and controversy center around TEP’s agreement to sell Project Blue 286 MW of generating capacity. Mayes alleges the ACC ceded its constitutional authority in approving the deal that allows TEP and Beale to set energy rates themselves without securing ACC approval. She wants the Commission to vacate its decision, which it approved in December on a 4-1 vote. She has also requested that ACC re-hear the…