COVID-19 News Round-up for April 28
Policy & Stimulus News Congress OKs New $484B Stimulus, Relief Package The House approved a nearly half-trillion-dollar emergency bill that provides more funds for struggling hospitals and will rescue a small business loan program that was quickly depleted by companies impacted by the coronavirus pandemic. The measure, which passed 388-5, will now head to President Donald Trump for his signature. (Source: AZCentral) […]
245-lot Site in Surprise Sells for $3.65M
Source: Land Advisors Organization Land Advisors Organization Scottsdale announced the sale of a 22.99-acre site planned for 245 units in Surprise. The property is located at Cotton Lane and Sweetwater Avenue and sold for $3.65M to NPC Trugold, LLC. The sale of this parcel is significant as it is one of the first multifamily acquisitions on the west […]
Clock Ticking on Yuma Transportation Center
Source: Yuma Sun With the clock ticking on dedicated grant funds, Yuma officials are moving forward with plans to design the long-planned multi-modal transportation center inside the historic Hotel Del Sol. The city has initiated a process to hire a design-build team. The design does not necessarily mean the facility will be built. The project will not be constructed unless […]
Industry Professionals 04-28-20
Giving Back 1. Sierra Signs has created a unique way to inspire others to support the United Food Bank with an, “Arizona Strong” fund-raising program. The program involves providing “Arizona Strong” support decals that people can purchase and proudly display with proceeds going to the United Food Bank. The decals sell for $5 each to cover production costs […]
Commercial Real Estate Transactions 04-28-20
Sales Transactions 1. Globe Corporation sold the 183.1KSF Class A industrial facility within the Freeport Center, 441 S. 53rd Avenue, Phoenix, to an undisclosed buyer for $17.3M. Will Strong, Executive Managing Director with Cushman & Wakefield’s national Industrial Advisory Group brokered the sale. 2. An entity tracing to Glasir Capital Partners recently purchased 1.83 acres at 601 N. Central Avenue, Phoenix, for […]
74-acre Mixed-Use Development Proposed for Mesa
By Tasha Anderson for AZBEX A new mixed-use development proposed to include employment/light industrial, multifamily residential and commercial uses is making its way through the City of Mesa. On Wednesday, Mesa’s Planning and Zoning Board approved a request submitted by Beus Gilbert McGroder, PLLC, on behalf of Sun Belt Land Holdings, LP to rezone approximately 74.1 acres on the west side of Ellsworth Road north of […]
COVID-19 News Round-up for April 24
Policy & Stimulus News PPP May Get Another $310B The U.S. Senate this week approved another $310B infusion into the Paycheck Protection Program. Even with the additional funding, some experts and advocates warn the amount may not be sufficient to meet need or demand. (Source: Phoenix Business Journal) Ariz. Following Feds Lead on Reopening The Governor’s Office told Arizona […]
Ariz. Economy May Expect Solid Recovery
By George W. Hammond for AZ Big Media There is still a huge amount of uncertainty about the future of the outbreak and the economic impacts on the Arizona economy associated with it. Regarding the outbreak, the question at this point is when government and self-imposed social distancing will ease. The April 2020 U.S. forecast from IHS Markit, […]
Gilbert to Postpone $465M Transportation Bond
By Cecilia Chan for Gilbert Sun News Given the current economic situation and the uncertainty surrounding the future, Gilbert Town Council will hold off going to voters this November with a $465M transportation and infrastructure bond. Instead, an ad hoc Citizens Transportation Task Force recommended Gilbert put the bond on the November 2nd, 2021 ballot. Council would take a formal vote […]
Arizona Projects 04-24-20
Awards & Accolades 1. High Street Residential (HSR), the residential subsidiary of Trammell Crow Company, and MetLife Investment Management announced that the Astor at Osborn, a 191-unit apartment building at 7th Avenue and Osborn Road in Phoenix, was awarded LEED Gold certification. Groundbreakings 2. Construction of the proposed $2M playground marks one of the first projects to break ground for the renovation of downtown Phoenix’s Margaret T. Hance Park. City officials […]