Residential Development on 45 Acres Proposed
By Tasha Anderson for AZBEX A preliminary plat submittal for a mixed housing development on 45-acre parcel in Goodyear was heard at the city’s Planning and Zoning Commission meeting on Wednesday. The project, called DeRosier Ranch Development, is located in the western portion of Goodyear north of Lower Buckeye Road, south of Yuma Road and […]
Arizona Projects 06-14-19
Groundbreakings 1. Construction officially began June 8 on The McMillian Mesa veterans home facility in Flagstaff, during a groundbreaking hosted by the Arizona Department of Veterans’ Services (ADVS). 2. Ground recently broke on phase II of Sagewood, a northeast Phoenix community for seniors who want to age in place, which is jointly owned by Life […]
June LMS Event Covers Rising Construction Costs
By Rebekah Morris for AZBEX On Thursday, more than 100 attendees at the latest Leading Market Series event listened to a lively roundtable discussion regarding the rising cost of construction and what they predict will continue to happen in the next six to 12 months. Moderator and BEX President and Founder, Rebekah Morris guided the […]
Industry Professionals 06-11-19
Awards & Accolades 1. Phoenix Business Journal has announced it’s 2019 Top 40 Under 40 Honorees. See the full list here. Some of the honorees include: Julie Garcia, director of preconstruction, Kitchell Rusty Kennedy, vice president, CBRE Yung Koprowski, principal, Y2K Engineering LLC Susan Martinez, regional economic development specialist, Maricopa Association of Governments Cherilyn McCabe, […]
Commercial Real Estate Transactions 06-11-2019
Sales Transactions 1. Virtú Investments sold the 194-unit La Costa at Dobson Ranch at 1820 W Linder Ave, Mesa, for $33.8M to a California-based private investor. Berkadia Commercial Mortgage secured a $22.2M Freddie Mac acquisition loan for the new owner, set to mature in 2026. 2. CBRE negotiated the sale of four Phoenix multifamily communities […]
PCC South Bldg Outreach Plan Ok’d
By Tasha Anderson for AZBEX The future of the Phoenix Convention Center’s South Building and site rests in the hands of a multidepartment community and stakeholder engagement plan approved by Phoenix City Council on Wednesday. The approximately two-month long engagement plan will gather input into possible expansion, disposition and/or redevelopment of the 286KSF building located […]
Arizona Projects 06-07-19
Groundbreakings 1. H5 Data Centers has announced a 25KSF expansion to their existing Chandler data center campus. This marks the second phase of the 180KSF facility, and will be complete later this year. 2. Pima County JTED held a groundbreaking ceremony for their new Bridges Innovation Learning Center, a 50KSF building that will train healthcare […]
What do Rising Construction Costs Mean?
By Rebekah Morris for AZBEX National Metrics Leave Much to be Discussed on this Topic This week alone, two national metrics were released regarding the level of construction activity and costs nationwide: Marcum Commercial Construction Index rises 2.1 percent Year Over Year, and the 2019 Q1 Rider Levett Bucknall Construction Cost Report (RLB) notes a […]
Film, Television Campus Proposed in Peoria
By Connor Dziawura for Peoria Times Paramount, Sony and NBCUniversal are just a few of the entertainment companies that could be coming to the West Valley, if all goes according to plan for a local group. Ruben Arizpe, CEO and founder of East Scottsdale Consulting Inc. recently told Peoria Times he and his business partners […]
Industry Professionals – 06-04-19
Giving Back 1. Sundt Construction, in the 10th annual Thirst Aid, has teamed up with St. Joseph the Worker to donate water for persons experiencing homelessness. On May 17th Sundt employee-owners loaded pallets of water onto a semi-truck, donated by Sunstate Equipment, at the company’s headquarters in Tempe then delivered over half a million water […]