Author: BEX Staff

Sales Transactions 1. TGM has acquired the 296-unit Ocotillo Bay apartments in Chandler for $90.5M. The community, now renamed TGM Ocotillo Bay, will be managed by TGM Communities LLC. CBRE represented the seller, a national fund manager. 2. McCarthy Cook & Company has acquired the 172.2KSF Tailwinds at Gateway industrial complex in Mesa for $51.5M. The fully leased Class A property includes four multi-tenant and six single-tenant free-standing buildings, with tenants such as ABB Inc., Hermle USA and Crane Worldwide Logistics. The Leroy Breinholt Team at Commercial Properties Inc. represented the seller, Jeff Arnold. 3. Arte Moreno (as San Tan…

By Roland Murphy for AZBEX A pair of affordable multifamily apartment developments are under consideration for the Mercado District in Tucson. The City of Tucson’s Infill Incentive District’s Design Review Committee met May 5 in a discussion session to consider plans and designs for the proposed Linda Avenue Apartments at 115 S. Linda Ave. and Congress Street Apartments across the street at 701 W. Congress St. While the apartments will be priced in the affordable rent range, they will not have an official affordable housing designation. Owner OZ Development specializes in building multifamily communities in designated Opportunity Zones and currently…

Even with the Scottsdale Water Campus, home to the Water Department’s Advanced Water Treatment Facility, in the midst of a $30M upgrade, the City’s recycled water program will need nearly $51M more to meet current State of Arizona regulations. In a program commonly referred to as “Toilet to Taps,” Scottsdale has undertaken an advanced water purification program that filters and treats wastewater to drinking water quality. Scottsdale’s facility was the third in the country and first in the state to earn program approval. The Water Campus is one of the largest wastewater-to-drinkable water purification operations in the world and can…

By BEX Staff for AZBEX Having paid $32.5M for a 267-acre residential site near Citrus Road and Interstate 10 in Goodyear last year, owners Rankin Real Estate has now secured a rezoning from the City of Goodyear that converts the land use to industrial and business park uses. The property—I-10 Citrus Gateway—sits between two other industrial properties. Officials with Rankin were quoted in a local news report saying the plan now is to work with the City of Goodyear and the Greater Phoenix Economic Council to develop the property in a way that maximizes its potential. It could end up…

The Bureau of Reclamation started developing the scope of work surrounding the appraisal study that would precede a feasibility study for the City of Flagstaff’s proposed Red Gap Ranch water project. Red Gap Ranch, located approximately 40 miles east of Flagstaff, covers 8,500 acres. Flagstaff purchased the site in 2005 for $7.9M with the intention to utilize its groundwater via a pipeline. Currently, the City owns more than enough water for the coming years. Red Gap Ranch is intended to serve as a lifeline and ensure the City has a 100-year water supply. The ranch is also a part of…

Groundbreakings 1. MC Companies has begun site work on Mason Ranch, a 363.4KSF Class A multifamily development in Tucson’s Tanque Verde submarket. The 312-unit project is backed by lender Kennedy Wilson and preferred equity partner Marble Capital. Completion is expected in 2027, with initial move-ins projected by late 2026. 2. Creation, in partnership with Horizon Real Estate Ltd., broke ground this week on The Switchyard, a $120M mixed-use project in Queen Creek. Located on the NEC of Ellsworth and Ocotillo roads, The Switchyard encompasses 10 acres, with 54KSF of restaurant, retail and office space, plus a 215-unit luxury apartment community.…

Olsson has submitted a proposal for a new industrial park with 9MSF of rail-accessible space and another 500KSF of non-rail-accessible space in Maricopa’s Industrial Triangle area at the SEC of White and Parker Road and Maricopa-Casa Grande Highway. The City of Maricopa approved $29M in land sales last year to enable the Industrial Triangle development area. The Maricopa Business Park proposal is the first announced development on the site and plans to turn the former farmland into an industrial and logistics hub, according to submitted documents. No prospective occupants were identified in the submittal. A preliminary site plan features dozens…

A 518-home development with a range of residential options has been proposed for 150 acres along State Route 238 west of Green Road in Maricopa. Sunrise Ranch would develop a vacant industrial site into a mixed-zone development center with single- and multifamily housing options including traditional freestanding homes, cluster homes and townhouses. The residential component would be distributed across five parcels and include 40 acres of open space with pedestrian trails, greenbelts and parks. Multiple connections on Smith-Enke Road would provide access to the neighborhood, and two roundabouts are planned. Development of the multi-phase project is planned to start in…

By Roland Murphy for AZBEX The Phoenix side of the Phoenix-Scottsdale border at Bell and Scottsdale roads could soon see a new densely populated luxury apartment community under a proposal submitted to the City of Phoenix on behalf of developer Fifield Companies. The Phoenix Planning and Development Department received a Planned Unit Development zoning request for Residences at Scottsdale Crossing on April 22. The submittal from land use law firm Snell & Wilmer details plans for a 302-unit luxury multifamily residential community on a roughly 4.3 gross-acre site west of the NWC of Scottsdale Road and Bell Road. The site…

By Associated Builders and Contractors The construction industry added 11,000 jobs in April, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has grown by 143,000 jobs, an increase of 1.7%. Nonresidential construction employment increased by 8,000 positions on net, with growth in two of the three subcategories. Nonresidential specialty trade added the most jobs, increasing by 4,900 positions, while nonresidential building added 3,600 jobs. Heavy and civil engineering lost 500 positions for the month. The construction unemployment rate rose to 5.6%, while unemployment across…