Monthly Archives: September 2018

By Rebekah Morris for Arizona Builder’s Exchange The final tally is coming in for this year’s budget season, namely, the Capital Improvement Plans for major municipalities. The next five years appear rosy for publicly funded infrastructure and public works projects, a boost of 7.28 percent in the five-year totals from last year. That is notable […]

By Adrienne St. Clair and Roland Murphy for Arizona Builder’s Exchange Quyp Development Services, LLC has submitted a rezoning request to the City of Tempe to build a multifamily development on the NWC of Broadway Road and Country Club Way, just a mile and a half northwest of the Arizona State University campus. The new […]

Giving Back        1. Valley Partnership has announced Sunshine Acres Children’s Home will be the 2018 recipient of the Valley Partnership Community Project. The annual event brings together hundreds of leaders and members from the real estate and developmental communities for a day of service. This year, join hundreds on November 3 from 8 a.m. – 1 […]

1. Marwest Enterprises, LLC announced a joint venture for the four-phase planned development of The Landing at PMG, a new Class-A industrial project located on 20 acres adjacent to the Loop 202 and Phoenix-Mesa Gateway airport. The project’s $30M first phase consists of six buildings totaling 280KSF. It began construction earlier this month and is expected […]

By Roland Murphy for Arizona Builder’s Exchange A site in Glendale at 59th Avenue and Butler Drive that has sat only partially developed for 40 years will be reborn as a niche apartment community under a proposal by Visiquest Properties, LLC. According to an announcement sent to AZBEX and select other outlets by Visiquest Principal […]

By Adrienne St. Clair for Arizona Builder’s Exchange The City of Scottsdale has approved a request by the St. Patrick Catholic Community to build onto the existing St. Patrick’s Catholic Church at the SEC of 84th Street and Desert Cove Avenue. The expansion will be completed in two phases. While some items of the first […]

Sales Transactions 1. Berkadia announced the $78M financing for six hotel properties in a portfolio of eight total hotel properties. Director Adrienne Kautzman of the Phoenix office secured the acquisition bridge loan through Ares Commercial Real Estate Corporation. The borrower was a partnership led by PEG Companies. The properties include Residence Inn by Marriott and Courtyard […]

By Roland Murphy for Arizona Builder’s Exchange Recent commercial real estate movements in the area of 12th Street and The Grand Canal have tongues wagging and rumors flying about the future of development near the Grand Canalscape redevelopment zone. NAI Horizon announced earlier this week it negotiated the $7M sale of “the largest multifamily-zoned land […]

By Adrienne St. Clair for Arizona Builder’s Exchange Arizona State University and Ryan Companies have submitted a proposal to the City of Tempe to build the 777 Tower at Novus mixed-use office/retail building and central plaza on the NWC of Rural Road and University Drive. The new development will be in the first phase of […]

By Adrienne St. Clair for Arizona Builder’s Exchange Overland Group, Inc. has submitted a proposal to the City of Mesa to build a new senior housing facility just north of the NWC of Baseline and Crismon Roads. The new community will be part of the Crismon Commons West subdivision. The project proposal notes that the […]