Arizona Projects 01-11-19
Groundbreakings 1. Scottsdale-based 1784 Capital Holdings, LLC, has broken ground on its Gold Dust Self Storage project at 7245 E. Gold Dust Ave. The former Macaroni Grill location will be home to a high-end self-storage facility that is scheduled to open at the end of 2019. 2. Andersen Corp., a Minnesota-based window and door manufacturer, recently […]
Construction to Remain Active, but Tempered, in 2019
Forecast Event Shows Impending Doom Seems Highly Unlikely By Roland Murphy for Arizona Builder’s Exchange 2018 was an excellent year, if not quite as excellent as experts predicted at the outset. 2019 will also be excellent, if, perhaps, somewhat less so than the year that preceded it. After that, things will taper off, but it […]
AZBEX Announces Company Rebrand
Those who attended the AZBEX 2019 Construction Activity Forecast on January 10 got a preview of an important company change for 2019. The Arizona Builder’s Exchange has announced we are rebranding and will be known as BEX. AZBEX Vice President of Operations, Rachel Pratt, took attendees down memory lane, from 2010 with President and Founder, […]
Phx, National Multifamily Rent Growth Solid for 2018
By AZBEX Staff for Arizona Builder’s Exchange Despite U.S. Multifamily rent growth remaining flat at 3.2 percent in December from November, 2018 proved to be a solid year for multifamily. According to the December 2018 Multifamily National Report from Yardi Matrix, “3.2 percent rent growth slightly exceeded going-in expectations. Despite the recent volatility in the […]
Commercial Real Estate Transactions 01-15-2019
Sales Transactions 1. Alden Street Capital Management has acquired The Retreat at Tucson, a 183-unit student housing community with 774-beds, at 1000 E. 22nd St, Tucson, for $56.2M. The seller was an affiliate of Heitman Capital Management, Tucson Real Estate Holdings, LLC. 2. Solstice at Arcadia Apartments, 5401 East Thomas Road, Phoenix, sold this month for $26.6M. […]
NW Healthcare Plans to Open Eastside Hospital
Source: Sun Corridor, Inc. Northwest Healthcare is planning the development of a 70-bed hospital near Houghton Road and Old Spanish Trail. The announcement is part of Northwest Healthcare’s “No Boundaries” strategy to increase access points to quality healthcare services for Tucson and surrounding communities. The plan is contingent upon approval of the primary jobs incentive […]
Co-Developer of The Quad on to Next Project
Source: George Oliver Companies Phoenix-based George Oliver Companies – a co-developer of the record-breaking Quad redevelopment in Scottsdale – has identified its next metro Phoenix transformation project, purchasing Catalina Terraces in Phoenix for $16.49M. According to George Oliver Companies Founder and Managing Partner, Curt Kremer, the redevelopment will take approximately nine months and will transform the 1989-built […]
Arizona Projects 01-11-19
Groundbreakings 1. Electronic Responsible Recyclers, or ER2, and its sister company, Revive IT, began construction on a $5M, 40KSF expanded facility in Mesa. The addition will increase inventory space, allow the company to consolidate processing operations and increase dock space. The building is expected to be occupied by the end of October. 2. Construction is underway […]
Industry Professionals 01-11-19
Giving Back 1. P.B.Bell recently donated $7K to The Singletons, a non-profit organization that has aided over 300 single parents diagnosed with cancer and receiving active chemotherapy along with their 1000+ children. The donation will enable the organization to restock 25 homes with basic household necessities, pay 30 electric bills and provide 100 family-style meals to […]
QC Plans Road Expansions to SR 24 Extension
Source: Town of Queen Creek It is no secret the Town of Queen Creek and the surrounding areas have experienced substantial growth and with that growth has come traffic to the Town’s roadways. With this in mind, the Town now has a plan to develop two major arterial roadways from Germann to the future extension […]