Industry Professionals 08-04-20
Awards & Accolades 1. Heather Honsberger, Area Business Development Leader for HDR, Inc., received the 2020 WTS Metropolitan Phoenix Member of the Year award. 2. Judges for the PCBC’s 2020 Annual Gold Nugget Awards have recognized KTGY Architecture + Planning at its annual competition in 13 different categories with 15 awards. KTGY was recognized in a variety of categories including innovative housing design and energy […]
Commercial Real Estate Transactions 08-04-20
Sales Transactions 1. Knightvest Capital purchased Signature Place, a 300-unit multifamily community at 600 W. Grove Parkwayin south Tempe for $62.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Western Wealth Capital. 2. A joint venture between AEW Capital Management and Condor Cold Storage, a division of the real estate investment firm Brookhollow purchased the Café Valley Headquarters, a 285KSF, Class-A […]
DB Firm Wanted for Tucson Readiness Center
By Tasha Anderson for AZBEX The Arizona Department of Emergency and Military Affairs is looking for a firm to provide design-build services for the 70KSF Rita Road Readiness Center to be located at 7901 S. Rita Road in Tucson. A Request for Qualifications was recently issued for the design, permitting, site preparation and construction of the new facility for the Arizona […]
COVID-19 News Round-up for July 31
Budget, Policy & Stimulus News Republicans Unveil New $1T Relief Package Republicans in the U.S. Senate unveiled a roughly $1T stimulus package, titled the HEALS Act, geared toward reopening the economy. Key provisions include stimulus checks to individuals and a host of small items for businesses, but it also contained a number of changes and adjustments to the Small Business Administration’s […]
P&Z OKs Plan, Wants Better Traffic Analyses
By Raquel Hendrickson for inMaricopa One planned project brought out frustrations entailed in the City of Maricopa’s General Plan and how traffic flow is designed. Though the Planning & Zoning Commission unanimously recommended El Dorado Holding’s Rev Development to the city council for approval, commissioners and staff used the opportunity to push for change. Rev is planned as a 25-acre […]
Arizona Projects 07-31-20
Groundbreakings 1. Bearizona broke ground on an all-new 40KSF habitat called The Grizzly Encounter. The nearly $1M addition will offer a top-of-the-line grizzly bear habitat and multiple viewing experiences for guests upon completion in Spring 2021. 2. Landsea Homes announced it has begun construction on 75 single-family homes at Riata at Alamar. Sales are expected to begin in September and the community Grand Opening is […]
Affordable Housing Proposed for Prescott Valley
By Tasha Anderson for AZBEX A new 144-unit affordable multifamily development is being proposed for the Town of Prescott Valley. Owner, Matthew Hepperle is requesting a zoning map change for the approximately 5.4-acre site encompassing the Baja Circle right-of-way and Prescott Valley Unit 24 (Lots 1-3, 7-10), from Commercial; general Sales ad Services-Planned Area Development to Residential and Services-Planned […]
COVID-19 News Round-up for July 28
Economic News Who Foots the Bill for COVID Building Changes Incremental operating costs for office buildings could increase by at least $19.40/SF or 5.8 percent of average annual office rents at the beginning of 2020, according to a recent report from consulting firm Deloitte. These incremental costs could vary based on the measures taken at each property and the quality of […]
Avondale Seeking Mixed-Use Ideas
By Corina Vanek for Phoenix Business Journal The City of Avondale is seeking ideas from private developers about how to best develop 34 acres of city-owned land into a mixed-use development with office, hospitality, retail, residential and community amenities. The area, which the city has named “The BLVD,” is at Avondale Boulevard south of Interstate […]
Report Reveals Costs Trends and Recovery Preview
Source: Rider Levett Bucknall International property and construction consultancy firm Rider Levett Bucknall has released its new Quarterly Cost Report for North America. With data current to April 1st, 2020 and featuring construction cost information for 14 US and Canadian markets, the QCR provides a statistical view of the state of the construction industry, detailing indicative construction costs for eight building sectors. The impact […]