News

By NordVPN | Teams The construction industry may not appear to be an obvious target for cybercrime, but it garners unwanted online attention just like other sectors. According to the Cost of Data Breach Report …

Awards & Accolades 1. TDIndustries, Inc. announced it has earned a National Safety Excellence Award from Associated Builders and Contractors (ABC) for the fourth consecutive year. The award was presented at the 31st annual Excellence …

Sales Transactions 1. A Chicago-based investment advisor purchased the first phase of the Lotus Project in Chandler, for an undisclosed amount, from Conor Commercial Real Estate and joint venture partner WHI Real Estate Partners. The …

By Tasha Anderson for AZBEX Developer, El Dorado Holdings, Inc. is looking to bring their single-family for rent design to Pinal County at the NEC of Schnepf Road and Toscana Loop Road in San Tan …

By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 6.9 percent in February 2021, from January 2021, according to the latest report published by the Arizona Office of Economic Opportunity. The national …

By Arizona Commerce Authority Intel has announced a substantial expansion of its Arizona-based manufacturing capacity with a $20B investment – the largest private sector investment in state history. The expansion will see the construction of …

By JLL Amid the pandemic, Phoenix maintained its position as a top US data center market, benefiting from increased cloud migration and technology adoption across major industries. These forces drove unprecedented activity in the data …

Groundbreakings 1. VanTrust Real Estate announced the start of construction on two new Amazon Sortation Centers, one at Corona and Alvernon, Tucson, and another at North Sarival Road and Maryland Avenue, Glendale. Both buildings will …

By Tasha Anderson for AZBEX The City of Casa Grande has recently issued a Request for Qualifications for the second phase of the Lucid Motors Electric Vehicle Facility – also known as Project Gravity. According …

Budget, Policy & Stimulus News New PPP Extension Leads to Pushing for Bigger Loans The House last week passed the PPP Extension Act of 2021. If approved and signed into law, the measure will extend …

A May 26th auction date has been set for 373 acres along Chandler Boulevard in Ahwatukee. Minimum bid for the land, located between 19th and 27th avenues, is set at $105M. Given the shortage of …

Data from the first quarter U.S. Chamber of Commerce Commercial Construction Index reveals contractors are growing more optimistic, mostly driven by a rise in revenue expectations. They also have better outlooks on hiring and equipment spending plans …

Awards & Accolades 1. R. Craig Coppola, the highest-producing broker in the 40+ year history of Lee & Associates and one of the Valley’s most visible and popular commercial real estate leaders, has been named …

Sales Transactions 1. TerraCap Management, LLC purchased Koll Cotton Center, a seven-building, 225.4KSF light industrial park at 4050 E. Cotton Center Boulevard, Phoenix, for $30.89M. JLL’s Senior Managing Director Mark Detmer and Senior Director Ryan …

By Tasha Anderson for AZBEX After rezoning was approved by the Phoenix City Council for the Paradise Valley Mall Redevelopment project in February, plans are moving right along as a new Request for Qualifications was …

By Arizona Commerce Authority ElectraMeccanica Vehicles Corp. a designer and manufacturer of electric vehicles, announced it has selected Mesa for its U.S.-based assembly facility and engineering technical center. The company’s selection marks the end of a …

By Phoenix Children’s Hospital Phoenix Children’s will soon begin work on a freestanding emergency department and multi-specialty clinic in Avondale, which will provide West Valley families access to top-ranked, pediatric-specific emergency care and expanded specialty …

By Arizona Department of Transportation The Arizona Department of Transportation has released its tentative 2022-2026 Five-Year Transportation Facilities Construction Program for public review and comment. The public comment period for the Tentative Five-Year Program ends at …

Groundbreakings 1. Banner Health has broken ground on the $243M, 351KSF Banner Gateway Medical Center Tower and Emergency Department at 1900 N. Higley Road, Gilbert, which will double the size of the campus. SmithGroup is …

By Tasha Anderson for AZBEX Greystar is looking to develop a luxury brand active independent living community located just northwest of the East Raintree Drive and North 90th Street intersection in Scottsdale. The developer recently …

Budget, Policy & Stimulus News Pinal to Get $90M in New Relief Funds The $1.9T American Rescue Plan will send more than $90M to Pinal County. Casa Grande, Maricopa and other cities will receive additional …

By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate decreased to 6.7 percent in January 2021, from December 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national …

By Associated Builders and Contractors Construction input prices rose 2.1 percent in February 2021, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input …