Author: BEX Staff

Sales Transactions 1. CaliberCos Inc. sold the Northsight Crossing retail center in Scottsdale to Hunt Retail Investments, LLC for $27.4M. Brokers on this transaction were Cushman & Wakefield, Caliber Realty and Platinum Advisors. 2. Peter Sun of Five Star Inn One LLC and Lily Hsue of Five Star Inn Two LLC purchased the 3 Palms Hotel, a 130-guestroom property in Tempe for $23M. The seller was Roger Abbot. James Meng of Colliers handled the negotiation and transaction. 3. CBRE’s Geoffrey Turbow, Gary Cornish, Charlie Von Arentschildt and Sean Spellman arranged the $16M sale of McDowell Mountain Business Park II in…

The historic Pratt-Gilbert Building at the SWC of Madison Street and Central Avenue in Phoenix is planned for a makeover that will renovate the structure into a modern mixed-use development. Aardex Corporation’s plan is designed in two phases. In the first, the single-story structure will be renovated to feature 30KSF of retail and restaurant space. The second phase could replace an existing 20.8KSF office building and create a 245-unit, 14-story residential tower, as well as another 7.2KSF of retail facing Central. Phase II plans are still in development and may change depending on community and stakeholder wishes. The developer plans…

AZ Construction Career Days will run Nov. 1 and 2 at the Arizona National Guard Armory, Papago Site, at 5636 E. McDowell Road in Phoenix. Students should arrive at 8 a.m. on both days. Construction Career Days is presented by the Association for Construction Career Development. There are a total of 78 construction companies sponsoring the event, which works to show high school students potential career paths in construction. The event highlights new tools and technology and provides hands on experience. Registration information is available here. (Source)

By Roland Murphy for AZBEX More than 200 stakeholders in Arizona’s public works and infrastructure community packed the conference center at the DoubleTree by Hilton Hotel Phoenix Tempe on Wednesday for the BEX Companies’ 2023 Public Works Conference. Attendees were treated to project and process details from a who’s who of agency leaders and public officials who shared their visions and challenges across the half-day event. Following brief introductory remarks by event emcee Amanda Elliot, redevelopment program manager for the Town of Gilbert, the presentations, panels and market news came at a steady clip for the rest of the day.…

Wetta Ventures LLC is planning a two-building 97.1KSF light industrial development at the SWC of Sossaman and Pecos roads in Mesa. The 7.5-acre Gateway Commerce Center III site is already zoned light industrial. The Mesa Design Review Board approved the site plan and design review in its Oct. 17 meeting. According to the project narrative, the developer plans to target prospective users needing 10KSF-20KSF each. The project design firm is Deutsch Architecture Group. The property owner is Phoenix-Mesa Gateway Airport Authority, and Wetta Ventures is the developer and leaseholder. (Source)

By Associated Builders and Contractors According to an October 2023 survey of ABC contractor members, 98% of respondents stated that controversial prevailing wage and government-registered apprenticeship policies imposed by the Inflation Reduction Act will make them less likely to bid on clean energy projects. The survey gauged ABC members’ responses to a proposed rule issued by the Internal Revenue Service on Aug. 29 that would implement these requirements. “The concerns expressed by the overwhelming majority of respondents indicate that the proposed rule fails to provide much-needed regulatory certainty and will ultimately cause unnecessary cost increases and delays to America’s clean…

By City of Kingman In an announcement from the U.S. Department of Transportation, the City of Kingman has assumed a pivotal role as the driving force behind the formation of a groundbreaking private/public coalition to advance the development of the I-40 TradePort Corridor. This innovative integrated supply chain system encompasses clean energy, logistics, and industrial hubs and is a collaborative effort with the lead agency, Bernalillo County, NM at its helm. The City of Kingman, in collaboration with Winslow, and a partnership of regional stakeholders, including the Port of Los Angeles, CA, Bernalillo County, NM, Sandoval County, NM, and the…

Awards & Accolades 1. PK Associates received the 2023 Best Project Awards for three of their projects from ENR Southwest. The Beam on Farmer in Tempe received Best Project Office/Retail/Mixed-use. Mortenson Arizona Headquarters in Tempe received Best Project Interior/Tenant Improvement. Finally, Insight Headquarters in Chandler received Merit Award Interior/Tenant Improvement. Groundbreakings 2. American Battery Factory broke ground on its new headquarters in Tucson. The structure is expected to be 2MSF. 3. Wespac recently broke ground on 4 projects. Atlas Surprise Pointe, a 274KSF industrial shell in Surprise is developed by Panattoni Development and designed by Cawley Architects; Park 91 a…

Mountainside Fitness is planning two new Valley locations. One new facility will be in Peoria’s Vistancia community at the SEC of El Mirage Road and Lone Mountain Parkway. The second will be in the Morrison Ranch area of Gilbert at the NEC of Warner and Higley roads. The Gilbert gym will be jointly developed between the Morrison Family and Evergreen Development. Both locations will be 40KSF and one story. Development costs are projected at $10M each, according to Mountainside officials. Groundbreaking is targeted for Q4 2024 with openings taking place approximately one year later. (Source)

By Arizona State University Arizona State University announced the university’s headquarters for ASU Health, which includes a new medical school, will be built at a location to be determined in downtown Phoenix. ASU Health, which will address health-related outcomes for the citizens of Arizona, includes not only a School of Medicine built around engineering but also a School of Public Health Technology. “We are very excited that all three of these things, the headquarters for ASU Health and two new schools will be built in downtown Phoenix,” said ASU President Michael Crow. “The citizens of Phoenix have been an important…