Author: BEX Staff

By Roland Murphy for AZBEX A request for proposals issued by the City of Phoenix last week will, if constructed, create another urban, mixed-use residential development at the SEC and SWC of 1st and McKinley streets downtown. The 1.49-net-acre site has most recently seen use as a farmer’s market on the SWC and as a temporary Arizona State University parking area on the SEC. According to the description in the RFP, “The successful proposer will create a high-rise urban infill redevelopment project for the entire Site that facilitates urban living, which may include retail, restaurant, live/work, civic space, or other…

The City of Tempe is considering asking voters to approve $581.5M in General Obligation bonds through three questions proposed for the Nov. 5 election. The bond questions would cover: $301M for community safety and roadway development to improve every street in the city within a four-year timeframe; $248.5M for “quality of life” improvements, including historic property preservation and restoration, and $32M to cover four annually consecutive $8M affordable housing bonds starting in fiscal year 2024-25. City Council plans a vote on calling for the bond election at its April 25 meeting. In addition to the bond considerations, City staff is…

By Roland Murphy for AZBEX Arizona’s seasonally adjusted unemployment rate fell from 4.1% to 3.8% from February to March, according to the latest report published by the Arizona Office of Economic Opportunity. The national unemployment rate also decreased over the month, dropping from 3.9% to 3.8%. Last March, Arizona had a seasonally adjusted rate of 3.6%, while the national rate was 3.5%. The Construction sector lost 300 jobs around the state from February through March. Arizona had a not-seasonally adjusted gain of 1,900 in nonfarm employment in February. “Prior to the pandemic (2010-2019), NSA nonfarm employment gained 10,800 jobs on…

Giving Back 1. A team of Gilbane Building Company employees recently participated in the 20th annual Pat’s Run, a 4.2-mile run honoring the legacy of Pat Tillman. Gilbane participants included Elizabeth Sydnor, Emily Gallagher, Zach Gallagher, Chris Bartley, Tyler Nimsger, Gerald Kinnard, Adam Macey, Luke Holder, Kylee Rathburn, Glen Rathburn and Dale Murawsky.   Promotions 2. PCL Construction has promoted Ankur Talwar to District Manager, Civil Infrastructure, West Region. 3. DCS Contracting has promoted Trennis Stanley to the role of Project Sponsor. He has been with DCS for the past eight years and has more than 28 years of construction experience. 4. Norris Design…

Sales Transactions 1. Blackstone Inc. paid $87M for a nearly 537KSF portfolio of five warehouses across four sales in Phoenix. Kohlberg Kravis Roberts & Co. Inc. was the seller. Will Strong, Kirk Kuller, Molly Hunt, Dean Wiley and Michael Matchett of Cushman & Wakefield represented both parties. The properties are: 5302 – 5240 W. Buckeye Road: two buildings, 219,240SF, $35.2M; 4720 W. Van Buren: 135, 438SF, $18.2M; 4441 W. Polk St.: 92,575SF, $16.77M, and 120 E. Watkins St.: 90KSF, $16.77M. 2. Aura Central, a 251-unit apartment complex on North Central Avenue in Phoenix, sold for $70M. An entity tracing to…

By South32 South32’s Hermosa project announced today that it would construct its remote operations center in Nogales. Hermosa is currently the only advanced mining project in the United States capable of producing two federally designated critical minerals – zinc and manganese. The decision follows two years of analysis and consideration of Hermosa’s county-wide planning and employment goals to retain the economic benefits of the project in the Santa Cruz County area. As part of the location announcement, the Hermosa project is also debuting a new name for the remote operating facility: Centro, a name chosen by the community in an…

By Roland Murphy for AZBEX “Don’t California My Arizona,” has become something of a battle cry for longtime residents who don’t like the ways in-migration from the Left Coast is impacting local culture. Ironically, a group fighting for the status quo in Fountain Hills is taking up California-style tactics to prevent a new apartment development from being built. A frequent issue with attempts to develop new properties in California is opposition groups filing litigation to get projects halted. In Arizona, that tactic has been comparatively rare, but opposition petitions to force approvals to a referendum have begun to come along…

By Roland Murphy for AZBEX Tech entrepreneur Britton Lee’s firm S3 Group, LLC is planning a “5-star” luxury golf resort in Bullhead City on the Colorado River. Plans for the Emerald Bay development include an 18-hole championship course, a nine-hole par-3 course, a resort hotel and spa, a beach club/marina/racquet club, a sports science boarding school for middle and high school athletes, and homes in a mix of luxury single-family residences and condo units in both attached and villa configurations. The development will be anchored by The Legacy Club at Emerald Bay, the planned “world-class golf facility.” The course will…

By BEX Staff for AZBEX The Mesa Planning and Zoning Board has recommended approval for a rezoning to allow a 102-room hotel and retail pad development at the SWC of Peterson Avenue and Ellsworth Road. The site is slightly north of the NEC of Ellsworth and Elliot roads. According to the submitted narrative, owner/developer Capital Asset Management does not yet have a hotel partner in place for the as-yet-unnamed development. According to local news reports and the submittal documents, planned retail uses include a sit-down restaurant, a Dutch Bros., an Arby’s and two retail spaces totaling 15KSF with 1.5KSF of…

By BEX Staff for AZBEX TriPlus Partners and Prologis are planning to add another nearly 900KSF to the West Valley’s assortment of industrial developments with a new five-building business park on more than 53 acres west of Cotton Lane and south of Camelback Road in Goodyear. The location sits immediately west of the existing 1.8MSF Prologis 303 industrial park, which completed construction earlier this year. The Goodyear Planning and Zoning Commission will vote this week on a request to rezone the proposed site from Agricultural/Urban to Business Park District to allow the project to proceed. Planned building sizes break down…