Input Prices Up in May
Source: Associated Builders and Contractors Construction input prices rose 0.8 percent in May compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices rose by 0.8 percent for the month as well. Of the 11 subcategories, only three experienced monthly decreases, with […]
Industry Professionals 06-16-20
Giving Back 1. K2 Electric recently contributed to the West Valley Mavericks Foundation, distributing over $375K in grants to 82 non-profit organizations in the west valley. 2. As the Valley of the Sun’s premier advocacy group for responsible development, Valley Partnership has given back with their annual Community Project for more than 30 years. This year, the Valley Partnership 2020 Community Project will be a $25K challenge grant benefitting St. […]
Commercial Real Estate Transactions 06-16-20
Sales Transactions 1. MHP #1, LLC, an affiliate of the Vanderhoot Family Trust purchased Desert Pueblo Mobile Home Community, a 55+ community with 418 spaces with 30 park owned homes, and approximately 70 spaces being used for RV parking on 56.5 acres at 1302 W. Ajo Way, Tucson, for $30M. Derek Harris of HARRIS Manufactured Housing & Commercial Brokerage represented both […]
New Auto Dealership Proposed for Phoenix
By Tasha Anderson for AZBEX Withey Morris, PLC, on behalf of owner, Howard A. Keyes with Keyes Automotive, recently submitted plans to the City of phoenix for the development of a new automotive dealership to be located just north of the NEC of 21st Avenue and Bell Road. The 2.15-acre site is currently zoned R-5 for multifamily residential. The California-based auto dealer wishes […]
COVID-19 News Round-up for June 12
Budget, Policy & Stimulus News Peoria to receive $20M in CARES Act funds The City of Peoria is about to see some financial relief come its way to address the economic fallout of the COVID-19 pandemic. The State of Arizona has received $441M in direct, flexible funding to be disbursed to cities, towns and counties that did not receive direct federal funding thanks to […]
Electric Car Company Looking at Arizona
By Suzanne Adams-Ockrassa for Pinal Central Another electric vehicle company was scouting for locations for a factory and technical center in Arizona last week and Casa Grande was on its list of spots to check out. Electra Meccanica, a Vancouver, Canada-based electric vehicle company, is checking out possible factory locations in seven states: Arizona, Colorado, Florida, North Carolina, South […]
Invest. in Structures Down; Const. Spending Stable
Source: Marcum LLP The Marcum Commercial Construction Index for the first quarter of 2020 reports an industry suffering the adverse effects of COVID-19. Construction employment fell by nearly one million jobs from March to April 2020, a decrease of 12.8 percent. The industry’s unemployment rate increased from 6.9 percent in March to 16.6 percent in April, the highest level since early 2012. The index […]
Arizona Projects 06-12-20
Groundbreakings 1. Pinal County has broken ground on their new 52KSF, five-story Attorney’s Office Building. This new facility will consolidate all County Attorney’s and their staff under one roof that are currently located in multiple properties around the county. The project is expected to be complete around July 1st, 2021. DLR Group is the architect and FCI Constructors, Inc. is the general contractor. 2. JLL […]
Mixed-Use Development Proposed Near Westgate
By Tasha Anderson for AZBEX A new mixed-use development is being proposed approximately one mile from Westgate Entertainment District at the SEC of Glendale and 83rd Avenue. Planning consultant, Jon M. Froke Urban Planning, LLC, on behalf of property owner, Rightstart Subsidiary, LLC, recently submitted preliminary plans to the City of Glendale and is requesting to rezone the approximately 8.23-acre vacant site from Neighborhood Shopping […]
COVID-19 News Round-up for June 9
Budget News Scottsdale CARES Act Allocation Estimated at $29M More than $29M in CARES Act funds may soon be coming to Scottsdale. The municipality has a planned conversation on June 16th to discuss and provide direction for funding of city programs and key funding areas, and amounts of funding for those programs and key funding areas; contingent […]