Monthly Archives: January 2019

By Tasha Anderson for Arizona Builder’s Exchange An application for Planning Hearing Officer Action for a new Veterans Administration Medical Clinic has been submitted to the City of Phoenix Planning and Zoning Department. The applicant, US Federal Properties Co., LLC, has requested modifications to previously approved zoning stipulations in order to develop a 5-story, 275KSF […]

Sales Transactions 1. The Standard, a 228-unit apartment complex near Hardy and University drives in Tempe, sold for $31.3M. Neil Sherman and Shane Benjamin of Sperry Commercial represented both the buyer, Tides Equities, and seller, 29th Street Capital. 2. Cushman & Wakefield announced that Pacifica Real Estate Group purchased Pecos Gateway Business Park, a 126KSF three-building industrial property at 8743 […]

By Tasha Anderson for Arizona Builder’s Exchange A new mixed-use development planned for North Avondale is expected to shake things up by adding a multifamily and commercial element to an area comprised of mostly “homogenous, traditional single-family residences.” Avondale-Mirage Owner, LLC submitted a proposal to the City of Avondale to build the Rio Bonita Mixed-Use […]

By Jessica Boehm for The Arizona Republic The Phoenix City Council approved a controversial deal with the Phoenix Suns that will keep the NBA franchise in downtown Phoenix through at least 2037. The council voted 6-2, with Vice Mayor Jim Waring and Councilman Sal DiCiccio opposing it, to approve the $230M deal. The city will pay $150M from its […]

Giving Back 1. The Tucson office of Terracon presented a $10K check from its foundation to the University of Arizona College of Engineering. The grant will be used to support graduate students studying Geotechnical and Civil Engineering. Awards & Accolades 2. Small Giants, LLC. was recognized by MarCom with 12 awards, including three platinum awards, five […]

Groundbreakings 1. FatCats Entertainment started construction on a new 64.1KSF family entertainment center at 5740 E. Longbow Marketplace, Mesa. The $11.5M project will include eight theaters, 20 bowling lanes, arcade, nine-hole glow in the dark mini golf, party room, virtual reality area, bar and restaurant. TK International is the architect and A.R. Mays is the general […]

By Tasha Anderson for Arizona Builder’s Exchange A Planned Unit Development proposal has been submitted to the City of Phoenix to develop a 221-unit luxury multifamily community in north Phoenix called LCG Kierland. The developer, Leon Capital Group, is planning to build the 6-story rental community at the southeast corner of 71st Street and Tierra […]

By Raquel Hendrickson for With a high school already more than 200 students over capacity, Maricopa Unified School District is making moves for short-term solutions while weighing options for the long term. In a special meeting Wednesday, the governing board approved placing eight almost-new portable buildings on the east side of campus to accommodate […]

Sales Transactions 1. Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Monterra Apartment Homes, a 258-unit multifamily property in Phoenix. The complex sold for $37.2M. IPA Senior Managing Directors Steve Gebing and Cliff David represented the seller, Weidner Apartment Homes, and procured the buyer, an institutional investment manager. 2. Atlantic Development & Investment […]