Commercial Real Estate Transactions 09-15-20
Sales Transactions 1. An undisclosed buyer purchased The Vineyard Apartments, a 300-unit multifamily community at 6706 N. Dysart Road, Glendale, for $41M. Newmark Knight Frank Director Chris Canter, Executive Managing Director Brad Goff and Senior Managing Director Brett Polachek represented the seller, Univest. 2. Western Wealth Capital purchased Villas de Azul, a 300-unit, garden-style multifamily complex at 2627 N. 45th […]
P3 RFQ Issued for CCC Student Housing
By Tasha Anderson for AZBEX Coconino Community College (CCC) is looking for a partner to help develop a new student housing complex at its Page campus on the corner of Cameron Street and Lake Powell Boulevard. The Community College recently issued a Request for Qualifications for Public-Private Partnership services for the new complex. The chosen […]
Glendale to Welcome Crystal Lagoons Island Resort
Source: Glendale Office of Economic Development Global entertainment and experiential leader Crystal Lagoons® has chosen Glendale for a one-of-a-kind attraction. ECL Glendale, LLC will develop Crystal Lagoons Island Resort, a mixed-use project unique to the Southwest. As a first step in the process to bring this development to Glendale, the City Council has voted to approve a […]
Tucson Multifamily Remains Hot
By Gabriela Rico for Arizona Daily Star Investor interest in Tucson’s upper-end apartment complexes has been high for several years and, while there was some breath-holding at the start of the pandemic, millions of dollars worth of transactions have transpired in the past few months. Investors are focused on the high-wage jobs the city has […]
COVID-19 News Round-up for September 11
Budget, Policy & Stimulus News Republican Stimulus Proposal Includes 2nd PPP, New Protections Small businesses could see a second round of Paycheck Protection Program loans and legal liability protections from COVID-19-related claims under a new, scaled-down stimulus proposal introduced by Senate Republicans. The new bill would create a second round of PPP loans for small […]
293-unit Multifamily Dev. Planned for Surprise
By Tasha Anderson for AZBEX Owner, Advanced Acquisitions, LLC is looking to develop a new 293-unit bungalow–style rental community located north of Pat Tillman Boulevard and west of 163rd Avenue in Surprise. A request for site plan approval was submitted to the City of Surprise by LVA, an RVi Company, on behalf of the owner. The request was heard and approved at the city’s […]
COVID-19 News Round-up for September 8
Budget, Policy & Stimulus News Many Businesses Opting Out of Payroll Tax Deferral The decision to let employers defer payroll taxes is part of the Trump administration’s effort to boost the economy absent any action from a stalemated Congress on a relief bill. Taxes can be deferred from September 1st through the end of 2020, […]
Ariz. Headed for Faster Recovery
By Victoria Harker for Chamber Business News Arizona is positioned for a faster economic recovery than the rest of the nation, and with some strategic moves on the part of state policymakers and citizens, it should jump back to a leading spot within next year or so, according to local economists. “We have the chance for this […]
Construction Employment Continues to Recover
Source: Associated Builders and Contractors Construction industry employment expanded by 16,000 jobs on net in August, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Over the last four months, the industry added 658,000 jobs, recovering approximately 61 percent of the jobs lost during March and April. The construction unemployment rate, which reached 16.6 percent in […]
Industry Professionals 09-08-20
Awards & Accolades 1. Sundt Construction, Inc. ranks No. 67 on the National Center for Employee Ownership’s Top 100 largest majority-employee-owned companies list and No. 8 within the construction industry. Boards & Commissions 2. The Federation of Defense and Corporate Counsel (FDCC) has named Sundt Construction’s assistant general counsel Matthew Meaker chair of their construction section. He had served as the vice-chair […]