4 of 6 Mesa High Schools Overcrowded
By Christopher Boan for East Valley Tribune Four of Mesa’s six high schools are so overcrowded the district may have to consider building a new one, according to a master plan introduced to the Mesa Public Schools Governing Board last week. The report by Alpha Facilities Solutions also said the overall condition of many schools […]
Developers Bldg Market-rate Units to Lease for Less
By Joe Bousquin for National Apartment Association HQ Since the end of the Great Recession, the hallmark of this apartment cycle has been luxury units, usually located within the urban core, with a slew of amenities. Of course, those kinds of communities don’t come cheap, to develop or to lease. The $300K per-unit development cost […]
Industry Professionals 03-03-20
Giving Back 1. The Sundt Foundation awarded over $80K in grants to 23 Phoenix-area nonprofits during its first-quarter disbursements. The Sundt Foundation awards grants each quarter to area charities that support disadvantaged children and families. Nonprofits are selected through an application process and reviewed by a committee of Sundt employee-owners. 2. The fourth annual Tour […]
Commercial Real Estate Transactions 03-03-20
Sales Transactions 1. Landmark Dividend purchased the 184KSF PayPal Inc. central Phoenix data center at the SWC of Third Street and Indian School Road, for $122M. PayPal will remain as a tenant in the facility. 2. Retail Value Inc. recently closed on the sale of Tucson Spectrum, 1251 W Irvington Road, Tucson, for $84M. 3. […]
Fat Cats Entertainment Coming to Queen Creek
By Tasha Anderson for AZBEX On the heels of the recently completed Fat Cats Family Entertainment Center at Longbow Marketplace in Mesa earlier this month, FatCats Entertainment is planning another center in Queen Creek. The project, to be located at the NWC of Riggs Road and Ellsworth Road, was approved at the Town of Queen […]
Developer Halts Flagstaff Multi-site Affordable Project
By Adrian Skabelund for Arizona Daily Sun Three affordable housing projects that would have been completed this year have been mothballed after the city’s developer encountered delays. The projects had planned to provide the city with as many as 74 affordable rental units in three locations across Flagstaff and would have been built by Brinshore Development. But […]
Residents, Developers at Odds over S. Tempe
By Joyce Coronel for Wrangler News A vacant lot at the NWC of Rural and Warner roads stands at the center of a long- swirling controversy that has bitterly divided a South Tempe neighborhood. When a chain link fence popped up days ago along much of the lot’s perimeter, and a large trailer and neatly stacked pile […]
Infrastructure Spending Drives Strong Q4
Source: Marcum LLP The Marcum Commercial Construction Index for the fourth quarter of 2019 reports healthy levels of construction spending, in large part due to the ongoing strength in infrastructure-related categories. Nonresidential construction spending stood at an annualized rate of $779.6B in December 2019, down 1.2 percent from the previous month but up 4.4 percent year-over-year. The […]
Arizona Projects 02-28-20
Groundbreakings 1. Tratt Properties LLC has broken ground on a 1.3MSF, Class A industrial development sitting just south of the junction of Interstate 10 and the Loop 303, in a designated Opportunity Zone in Goodyear. Called Elwood Logistics Center, it is the largest speculative industrial building ever to break ground in the Valley. Construction is […]
DB Firm Wanted for New Tucson Airport Hangar
By Tasha Anderson for AZBEX The Tucson Airport Authority is looking for a Design Build firm to help design and construct a new hangar to be located on the north side of Aero Park Boulevard in an industrial area of the Tucson International Airport. A Request for Qualifications was recently issued by the Tucson Airport […]