Industry Professionals 07-28-20
Giving Back 1. Rosendin Holdings, Inc., the parent company to Rosendin and Modular Power Solutions (MPS) announced it has established The Rosendin Foundation, a 501(c)(3) non-profit incorporated to positively impact communities, build and empower people, and inspire innovation through financial grants and volunteer hours. Awards & Accolades 2. SOLON Corporation has been recognized by Solar Power World magazine as the number one commercial EPC solar contractor […]
Commercial Real Estate Transactions 07-28-20
Sales Transactions 1. Elim Mining Inc. has completed a $19.1M financing package and will complete its acquisition of the Cactus Mine. The copper mine is located near Casa Grande. 2. Ivanhoe/Evergreen purchased a 96KSF industrial building at 6615 W. Boston Street, Chandler, for 9.19M. Jackie Orcutt, John Grady and Jonathan Teeter with CBRE represented both the buyer and seller, Cabot Properties. 6615 W. […]
Retail & Hospitality to Get Worse Before Improving
By Rebekah Morris for AZBEX On Wednesday, July 22, 2020, BEX held a panel discussion regarding upcoming retail, hospitality, and entertainment projects in the Valley and beyond. Participants included Jeff Mills, Project Executive for PENTA Building Group, Dave Sellers, President & CEO of LGE Design Build, and Aaron Studebaker, Community Development Project Manager for Salt River Pima-Maricopa Indian Community (SRPMIC). The discussion was moderated by Rebekah Morris, […]
COVID-19 News Round-up for July 24
Budget, Policy & Stimulus News Lawmakers Trying to Push Through New Relief Democrats and Republicans remain divided on what a next potential federal stimulus package should look like, but lawmakers “are going to be in an all-out sprint” to pass a measure soon, said Sen. Ben Cardin, ranking member of the Senate Small Business & Entrepreneurship Committee. (Source: Phoenix Business Journal) […]
418-unit Apartment Complex Proposed for Glendale
By Tasha Anderson for AZBEX A new 418-unit multifamily residential development is being proposed for the NWC of Bell Road and the Loop 101 in Glendale. Applicant, Tiffany & Bosco, P.A., on behalf of project and property owner, Glendale Bell 101 LLC, is requesting a General Plan Amendment from Offices to High Density Residential allowing 20-30 dwelling units per […]
Phoenix Mayor Announces Affordable Housing Plan
Source: City of Phoenix In Phoenix, the COVID-19 pandemic and economic downturn is intensifying the already existing housing crisis. Phoenix residents, as well as residents in other cities across the country, are experiencing job losses, which can make it even more challenging to afford a place to live. According to Housing and Urban Development’s Fair Market Rents, in Arizona the cost of a […]
Arizona Projects 07-24-20
Groundbreakings 1. Nikola Corporation is one step closer to bringing a 1MSF manufacturing facility to Coolidge, following an official groundbreaking ceremony on its approximate 430-acre parcel. The first phase of construction is scheduled for completion in late 2021, with the second phase projected to be complete within the following 12-18 months. 2. A long-awaited Aldi grocery store is being built at the Sunrise […]
200MW Solar Facility Proposed for Pinal County
By Tasha Anderson for AZBEX Global energy storage developer, Invenergy, LLC is planning a new photovoltaic solar energy production facility on approximately 1,642 acres of private land north and south of Highway 287 just west of the Eleven Mile Corridor in Pinal County. The developer, also noted in the project documents as SunDog Energy Center LLC, is requesting a […]
COVID-19 News Round-up for July 21
Economic News No Crash Predicted for Metro Phoenix The Phoenix area’s housing market is showing no signs of crashing despite job losses and other economic hits because of COVID-19. Contracts to buy Phoenix-area homes priced above $300K soared over the past week, according to the Cromford Report. (Source: AZCentral) Sr. Housing Occupancy Hits 15-year Low Occupancy in senior housing has hit a 15-year low given […]
Putting the West Valley into Major Growth Mode
By Erin Thornburn for AZ Big Media Remember the lyrics from Janet Jackson’s “Love Would Never Do (Without You)?” “They said it wouldn’t last. We had to prove them wrong … There’s no easy explanation for it. But whenever there’s a problem, we always work it out somehow.” If the West Valley could sing, she would likely […]