Bill Restores Tax-Exempt Status for Water & Sewer
Source: National Association of Home Builders Sens. Jeanne Shaheen (D-NH), Lisa Murkowski (R-AK), and Maggie Hassan (D-NH) introduced legislation to address an unintended consequence of the Tax Cuts and Jobs Act of 2017 that increased costs for some builders and developers. For builders and developers working in areas served by a for-profit, corporate water utility, […]
Industry Professionals 12-17-19
Awards & Accolades 1. Karen Benoit, senior vice president of corporate marketing at Kidder Mathews, has been selected nationally as a top Influencer in Commercial Real Estate Marketing and Communications by the editors of GlobeSt. Real Estate Forum. 2. Taylor Morrison has netted its second Glassdoor Employees’ Choice Award, recognizing the Best Places to Work […]
Commercial Real Estate Transactions 12-17-19
Sales Transactions 1. Starwood Income Real Estate Trust purchased the 277-unit Alta Drinkwater apartment complex at 3234 N. Scottsdale Rd, for $96M. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix brokered the sale. The sellers were Wood Partners and the Carlyle Group. 2. Stockdale Capital Partners purchased 371K+SF of Class […]
Acero Val Vista to Provide More Multifamily for Gilbert
By Tasha Anderson for AZBEX Vancouver, Washington-based developer IDM Companies is proposing a new multifamily development at the NEC of Melrose and Quartz Streets in Gilbert. Pew & Lake PLC, on behalf of the developer and property owner, Leseur Investments, submitted plans to the Town of Gilbert and requested a minor General Plan Amendment on […]
Small Businesses Sought for Arena Renovations
Source: City of Phoenix Local subcontractors have an opportunity to submit scopes of work and be part of the $230M Talking Stick Resort Arena renovation. General contractor Okland, the Phoenix Suns and City of Phoenix are hosting a trade partner outreach event on Tuesday, December 17th, in the Arena Pavilion. Registration is required for the […]
Interstate 11 Study Update
Source: Arizona Department of Transportation The Interstate 11 study team has been busy since the public hearings and the public comment period held earlier this year. The team continues to process more than 12,000 submissions received on the Draft Tier 1 Environmental Impact Statement and the Recommended Corridor Alternative. Each submission is logged, evaluated by […]
Attesa Submits Final Plans to Pinal County
Source: Attesa Danrick Builders has announced the design of its primary international road race circuit has been finalized and site plans submitted to Pinal County to initiate permitting. All land use entitlements are secured and construction of the new track, Arizona International Raceway @ Attesa will begin immediately upon county approvals. Attesa is Danrick Builder’s […]
Maricopa County Funds New PHX Health Campus
Source: Creighton University Maricopa County and Creighton University are working together to address a major challenge to the region’s prosperity and well-being: the growing shortage of doctors, nurses and other healthcare professionals. The Maricopa County Industrial Development Authority (IDA), backed by the Board of Supervisors, is investing $2.5M in the construction of the Creighton University […]
Arizona Projects 12-13-19
Groundbreakings 1. Hines announced it will host a groundbreaking ceremony for its new 25-story, 379-unit downtown Phoenix luxury multifamily complex Adeline on January 14, 2020 at 10:00 a.m. The ceremony will be held at 222 E. Jefferson St. 2. U-Haul® International broke ground on a multi-million dollar, 54.2KSF conference and fitness center, a part of […]
Office & Industrial Have Diversified, Room to Grow
By Rebekah Morris for AZBEX The final Leading Market Series (LMS) event for 2019 was held on Thursday, December 5, 2019, featuring Craig Coppola, Lee & Associates, Megan Creecy-Herman, Prologis, Jenna Borcherding, VanTrust Real Estate, Korey Wilkes, Butler Design Group, moderated by Rusty Martin with Graycor Construction. The topic of Office & Industrial was discussed, […]