Industry Professionals 01-21-20
Giving Back 1. Clear Title Agency of Arizona has launched into 2020 by making a significant investment in the Central City South Neighborhood Revitalization initiative with Habitat for Humanity of Central Arizona. The three-year commitment will serve as a foundation for redevelopment efforts underway in four targeted neighborhoods that are part of the Central City […]
Commercial Real Estate Transactions 01-21-20
Sales Transactions 1. The Blackstone Group purchased the 1,003-room Sheraton Phoenix Downtown hotel, located at 340 N. 3rd Street, from Marriott for $268M. In recent months the hotel has undergone a massive renovation, updating everything from guest rooms to restaurants. Renovations are scheduled to be completed in the first half of 2020. 2. Pillar Communities […]
5-story Hotel Proposed for Tempe’s 2100 Rio Salado
By Tasha Anderson for AZBEX Hotel developer, Tharaldson Hospitality Development recently submitted plans to the City of Tempe for a new hotel to be located on 2.8 acres at 93 S. Rockford Drive, part of the Heavy Industrial District and the 2100 Rio Salado mixed-use development. Tharaldson has requested a use permit to allow a […]
Dot Foods Expanding Operations in Mohave County
Source: Arizona Commerce Authority Dot Foods, the largest foodservice redistribution company in North America, has announced it’s expanding its footprint in Arizona. The company plans to add nearly 70KSF to its current operation in Bullhead City and hire 70 additional warehouse employees and regional delivery drivers over the next three years to staff the growing […]
2020 CRE Outlook: How Phoenix Shapes Up
By Steve Burks for AZ Big Media Consistency may be boring, but when it comes to the commercial real estate outlook and the Greater Phoenix commercial real estate industry, no change is good for business. The United States is in what most economic experts feel are the latter stages of a growth cycle that is […]
Arizona Projects 01-17-20
Awards & Accolades 1. Gilbane Building Company, together with design partner DLR, accepted the ENR Southwest “Best Project Award” in Healthcare for their recent MIHS Maryvale project. Groundbreakings 2. Hines announced it has broken ground on Adeline, a 25-story, 379-unit luxury for-rent residential high-rise community at the Collier Center in downtown Phoenix. Construction is expected […]
Ryan Planning PHX Assisted Living Facility
By Tasha Anderson for AZBEX A new assisted living, independent living and memory care development to be located at the former L.A Fitness site at the SEC of 32nd Street and Camelback is headed towards the City of Phoenix Planning Commission. Ryan Companies is seeking approval to rezone the approximately 5.86-acre site from Commercial Office, […]
PVB Expands Headquarters in Marana
Source: Arizona Commerce Authority PVB Fabrications, Inc. (PVB), primarily a multi-disciplined general contractor and provider of quality welding and fabrication services for the commercial, utility, government, heavy industrial and mining sectors, announces plans to expand its headquarters in Marana. PVB has purchased 10 acres at 8037 and 8041 W. Tangerine Road, 85658 and is planning […]
Funding Coming to Modernize San Luis I Port
Source: Real Estate Daily News Governor Doug Ducey applauded the passage of $152.4M in new federal funding to modernize the San Luis I Port of Entry in Southern Arizona. Designated as the number one priority port of entry in the United States by Customs and Border Protection, the San Luis I port is one of […]
AZ Lawmakers Face Tough Questions About Water
By Howard Fischer for Capitol Media Services Just a year after approval of the much-heralded Drought Contingency Plan, Arizona lawmakers once again face tough questions of how to deal with the increased demand for water in the face of drier weather — and getting water to where it is needed. The 2019 plan provides some […]