Author: BEX Staff

Sales Transactions 1. Indicap, Colmena Group and Langley Properties have closed on 311+ acres of land at the northwest corner of Power Road and Warner Road in Gilbert for $107.5M. The land will be developed into The Ranch, a mixed-use development including industrial, office, retail and residential uses. Jason Hyams of Insight Land and Investments represented the buyer, and Danny & Scott Perkinson of Perk Prop Real Estate represented the sellers, The Dale C. Morrison Trust. 2. Swan Lake Estates Mobile Home Community, located at 4550 N. Flowing Wells Road, and Friendly Village MHC located at 1202 W. Miracle Mile…

By BEX Staff for AZBEX Maricopa County will provide $10M in federal funds from the American Rescue Plan Act for two Phoenix affordable housing developments. Phoenix City Council recently voted to approve accepting the funds, according to news reports. The first $5M allocation will go to Horizon on Villa, a 109-unit development on the site of the former A.L. Krohn Homes public housing project. The Phoenix Housing Department confirmed in an email to BEX Research staff that the City will co-partner with Gorman & Company on the development. Plans for the affordable and mixed-income development include units from one- to…

By BEX Staff for AZBEX SimonCRE announced it has closed on the land purchase for the upcoming development of Elm Street at Surprise City Center. The development will bring a total of more than 70KSF of mixed-use commercial space to the growing civic center in the heart of Surprise’s downtown area. The center, which sits at Bullard and Bell, will provide a range of new retail, restaurant and entertainment options, as well as two stories of office space, as the developer gets ready to start construction on the first phase of the major development. SimonCRE shared that the preleasing activity…

The Mohave County Planning and Zoning Commission will consider a major plan amendment and several rezoning requests for the Entrata master plan project from Nevada developer Al Barbarich. The site is located approximately 25 miles south of Hoover Dam and the Nevada border. Barbarich has been buying land in the area since 2005 and owns the property outright with no debt. The master plan includes manufacturing, other industrial, residential and airport uses, which project representative Kathy Tackett-Hicks of Kingman called “a huge economic revenue enhancer for the county and the region.” Barbarich said development will occur over multiple decades and…

The Queen Creek Town Council is scheduled to vote this week on two measures that will help pay for required infrastructure improvements in support of the planned LG Energy Solution battery manufacturing plant at the NEC of Germann Road and Ironwood Drive. Under a development agreement with LGES, Queen Creek will widen existing roads, build new roads and improve water and sewer infrastructure at the site. The total cost of the infrastructure improvements in support of the planned $5.5B battery plant is estimated at $84M. Queen Creek has already incurred approximately $12M in expenditures. The plant has not yet started…

By LGE Design Build LGE Design Build has released its Q3 Construction Delivery Outlook report to examine trends within construction labor, supply chain and material costs across the country as well as in the company’s key markets of Phoenix and Dallas. “Despite the lingering challenges created by the pandemic, our report highlights the resiliency of the construction industry and provides reason to be optimistic for the future,” said Blake Wells, VP of preconstruction at LGE Design Build. “Construction continues to thrive in Dallas-Fort Worth, driven by the rise of healthcare, education, immersive entertainment venues and tenant improvement projects… In Phoenix,…

Groundbreakings 1. Pattern Energy has begun construction on the 550-mile $10B SunZia transmission system that will start from central New Mexico and go through more populated areas of Arizona and California with an estimated capability of transporting more than 3,500MW of new wind power. 2. W.E. O’Neil just started construction on the Garfield Phase II project, a 60-unit concrete podium multifamily housing project in downtown Phoenix. The project is being developed by Pennrose Development and designed by Dekker Perich Sabatini. The complex will provide affordable housing to veterans in the community. 3. City of Phoenix has started construction on Phase…

By BEX Staff for AZBEX (NOT BEXCLUSIVE) EdgeConneX has filed a new plan to build a data center campus in east Mesa near Loop 202 and Elliot Road. Local media reports say the company is requesting administrative and design reviews for a multi-phase development with three data hall buildings and an electrical substation on 93 acres in the Elliot Road Technology Corridor. If fully built out, the total area would exceed 1.17MSF, according to the project narrative. Phase I would be a one-level 180KSF data hall (called the north wing), two electrical power blocks, a two-level/53.1KSF administrative core and the…

With General Motors’ recent announcement that it plans to close the Arizona IT Innovation Center, and other prominent moveouts in the area, some market watchers are expressing concerns about the state of Chandler’s Price Road Corridor. Sam Kapur of Arizona Elite Commercial presented his worries to the Chandler Chamber of Commerce Economic Update session on Aug. 24, noting GM has joined PayPal and Liberty Mutual as recognizable occupants that have left the area. He estimated nearly 1MSF of vacancy in the Corridor. He added many buildings have been vacant for years, with tenants in place but without being occupied, in…

The Arizona Supreme Court has ruled former Surprise City Clerk Sherry Aguilar overstepped her authority in rejecting signatures for a referendum petition opposing an approved affordable housing development. After Surprise City Council approved Dominium Management’s vociferously contested plan for a master-planned affordable and senior living development known as Truman Ranch Marketplace near Cotton Lane and Waddell Road, the organized opposition group Voice of Surprise submitted a petition with more than 5,400 signatures in Sept. 2022 to force the issue onto a referendum ballot. Aguilar, who has since retired as City Clerk, rejected all the signatures because VoS did not attach…