I-10/SR210 Draft EA and Initial DCR Available
Source: Arizona Department of Transportation A proposal to make improvements to two important corridors in the Tucson area is now available for public review and comment. The Draft Environmental Assessment and Initial Design Concept Report for Interstate 10 from I-19 to Kolb Road and State Route 210 from Golf Links Road to a future connection […]
$35M School Bond on Nov. 5 Ballot
Source: Kingman Daily Miner Voters in the Kingman Unified School District will vote, Tuesday, November 5th, on a proposed $35M school bond. KUSD’s Governing Board has slated the special election for the bond that would help bring Palo Christi school back into a fully functioning building, update HVAC units, add a digital entry system, purchase […]
Light Industrial Outshines Mega-warehouses
Source: CBRE Even as the growth of e-commerce has lifted the entire industrial & logistics real estate sector, a sweet spot has emerged: warehouses smaller than 120KSF, according to a new report from CBRE. CBRE analyzed U.S. industrial buildings by size and found that “light industrial” properties outperformed the other property types over the past […]
Arizona Projects 11-01-19
Groundbreakings 1. SkyBridge Arizona and leading general contractor Graycor Construction Company broke ground on the first two buildings at SkyBridge Arizona. Architectural firm ADM Group and engineering firm HilgartWilson will serve as Graycor’s design-build partners for SkyBridge. At build out, SkyBridge is slated to include 2MSF of warehouse space, 200KSF of office space, 1.7MSF of […]
Senior Living Project Gets 2nd Chance at SDLE P&Z
By Tasha Anderson for AZBEX Plans for a new senior living facility located east of 98th Street on the south side of McDowell Mountain Ranch Road are headed back to Scottsdale’s Planning Commission in November after being denied back on September. Owner, SCW Holdings, LLP is requesting a Zoning District Map Amendment from Single-Family Residential, […]
Developments Planned for Downtown Mesa
By Alison Steinbach for The Arizona Republic A boutique hotel and an array of apartments — from one focused on sustainable living to another offering an ultra modern twist — are planned in downtown Mesa’s one square mile. The projects are energizing city leaders who have long sought to transform the downtown into a bustling, […]
PMG Airport Plans on $50M Worth of Improvements
By Brandon Brown for Phoenix Business Journal The Phoenix-Mesa Gateway Airport Authority approved a nearly $5M increase to its annual expenditure budget on October 15th, making the total amount expected to be spent on capital improvements to the Valley’s secondary airport nearly $50.3M. The increase is to pay for five specific projects in fiscal year […]
Industry Professionals 10-29-19
Giving Back 1. CBRE launched its 9th annual PurSuit of Success citywide business clothing drive on Monday, October 28th. The two-week drive, with 23 convenient drop-off locations, runs through Friday, November 8th and benefits women and men in job training programs with much-needed access to professional clothing. New and gently used items can be donated […]
Commercial Real Estate Transactions 10-29-19
Sales Transactions 1. Geringer Capital purchased Avia 266, a 266-unit multifamily community at 2354 W. University Drive, Mesa, for $45.25M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Thayer Manca Residential. 2. Tanbic Edgehill Centerra Apartments, LLC (an entity formed by Ryan and Anthony Francisco […]
Ferguson Plans New Warehouse in Chandler
By Tasha Anderson for AZBEX Ferguson Enterprises, a national plumbing, HVAC and building supplier, is planning a new warehouse and storage facility on 48.3 acres west of the SWC of Queen Creek and McQueen Roads in Chandler. The City of Chandler approved a request to rezone the undeveloped site from Agricultural (AG-1) District to Planned […]