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Tuesday CONNECTING the LOCAL BUILDING INDUSTRY Tuesday Volume 3 Issue 51 Issue Date: Aug 14, 2012 CONNECTING THE LOCAL BUILDING INDUSTRY Alliance Residential Commits $144M to Scottsdale, Phoenix Infill Projects By Eric Jay Original Sources: The Arizona Republic and Phoenix Waiting in the wings, Broadstone on Lincoln, 264 Toll for The Business Journal Premium Content units, Lincoln Dr. and Scottsdale Rd., was approved by Scottsdale in April. The Lincoln project redevelops an Arizona Builder’s With a unanimous vote, the Scottsdale planning office site turning it into a tiered one, two, three and four Exchange commission sent the $54M, 259 apartment, 10K SF retail story mixed use project with 264 apartments in multiple Broadstone at Waterfront towards design review and buildings, a common facility and 22.5K SF for retail space. council approval in September and October. The newest of three Alliance Residential Company infill projects will Alliance Residential Builders LLC is the GC for the three start as soon as Scottsdale stamps final okays on the luxury projects, which add nearly 800 units into the plans. market—all on infill sites. They are among 18 proposed apartment projects that will add about 5,700 apartments The other $90M is spread between two other infill in Scottsdale alone. Optima Sonoran Village, a condo projects. The already under construction Broadstone on complex that will include some rental units, is the only Camelback, 26th St. and Camelback Rd., Phoenix, has 270 Scottsdale project currently under construction. Allen + units in four stories on a parcel previously proposed for Philp Architects + Interiors provided design. Donald Trump’s controversial high-rise apartment and resort complex. Alliance originally developed Level At 16th, an infill project at 16th St. and Campbell Ave., just before the recession hit in 2008. It sold the project in 2011. The Business Journal quotes managing director Ian Swiergol as calling it a “learning experience.” Alliance’s new projects are all situated within employment centers and on public transportation corridors. Waterfront sits between Fashion Square and Old Town, Broadstone on Lincoln is across the street from Lincoln Village Shopping Center and adjoins The Spectrum office complex. The Camelback location adjoins The Esplanade and is in the middle of the Biltmore area office towers. Read original stories at AZCentral and Phoenix Business Journal Premium Content Scottsdale Waterfront Project Solicitations in this Issue: 33 Design/Consultants 60 Horizontal 28 Commercial 19 Products & Equipment 7 Development Opps 33 Utilities 41 Maintenance 25 Permits Issued The Arizona Builder’s Exchange is a compilation of information gathered from the public domain. Individual articles are protected by their respective copyright. The publication as a whole is copyright protected to the Arizona Builder’s Exchange. To forward or share the information with others outside of your firm is a violation of that copyright, punishable by law. 2 Volume 3 Issue 51 Table of Contents Articles 3 Valley in U.S. Top 10 for Foreign Investors 4 4 Home Values Hit Tipping Point: Existing vs. New Build 5 Vistancia Establishes 500-Acre Commercial Core 6 Sierra Vista to Spend $315K Fixing Tennis Facility 6 Bridgestone to Build Rubber Research Farm in Eloy 7 Peoria Target Defrauded in Paving Scheme 9 ADOT Gets $3.4 Million In Federal Grants For Road Work 5 9 Maricopa, Ak-Chin Agree on Land Issues 11 Top 10 Commercial Building Contractors 12 San Luis Approves Solar Project 12 Mesa Escalates ED Effort with More Staff, Money 13 Maricopa Positioned to Lead In Ag Tech 11 13 Businesses Booted at Gilbert’s Santan Mall 15 Apt. Recovery Shifts Into Expansion Mode 16 Modest Economic Growth Keeps CRE on the Road to Recovery 16 Area Leaders Strive to Keep US Airways in Tempe After Merger Sections 14 Permits Issued 17 17 Commercial Real Estate News 20 Events Project Opportunities 20 Planning/Design/Inspection/Consultant 24 Development Opportunities 25 Horizontal 33 Utilities 37 Commercial 41 Maintenance & Alterations 44 Products & Equipment 46 Pre-Solicitaitons Click here to return to Table of Contents 3 Tuesday, August 14, 2012 Valley in U.S. Top 10 for Foreign Investors Meet the Team! By J. Craig For the first time, metro Phoenix significantly to Phoenix’s placing Anderson for was among the top 10 U.S. on the top-10 list in the second markets in terms of foreign quarter, Desmond said. The Arizona Rebekah Morris investment in commercial-real- Artis REIT, Winnipeg, Manitoba, Mad Hatter Republic estate assets in the second purchased north Scottsdale quarter. 480-709-4190 multitenant office building MAX [email protected] Local real-estate analysts said a at Kierland, 16220 N. Scottsdale number of factors contributed Road, for $79 million and the to the boost in foreign GSA Phoenix Professional Office Rachel Kettenhofen investment in Phoenix, including Building, 21711 N. Seventh St., Red Queen a dearth of attractive, available in Phoenix, for $75 million, both commercial properties in coastal in the second quarter. 480-227-2620 U.S. cities and the stabilizing of [email protected] Those two purchases totaled Phoenix-area real-estate prices. $154 million, nearly half While Canadians have the Phoenix area’s total for Eric Jay Toll dominated the Phoenix area’s offshore commercial-real- Chesire Cat offshore commercial-real-estate estate investment in the second investment activity in recent quarter. 602-617-3797 [email protected] years, there also have been In all, there have been 11 purchases by European, Middle commercial-real-estate Eastern and Asian investors, purchases of at least $10 million Michele Carey analysts said. in metro Phoenix by foreign Alice In the second quarter, foreign investors since January 2010, 480-686-4315 investment in Phoenix-area Desmond said. [email protected] commercial-real-estate totaled Beyond the general appeal of about $317 million, according U.S. real estate, metro Phoenix to a report issued in late July Arizona Builders Exchange is considered an attractive place by Jones Lang LaSalle Capital 1400 E Indian School Road to invest because it’s a growth Markets Research. market with relatively new Phoenix, AZ 85014 Sections New York topped the list with structures, he said. just over $1 billion in offshore Local offices of commercial- AZBEX News real-estate investment in the real-estate brokerages already The next two issues of AZBEX will have second quarter, the report said, have benefited from the foreign some massive project announcements. followed by San Francisco, with investments, including the foreign real-estate investment Together they total over $1B - stay tuned! Phoenix office of CBRE, which is totaling roughly $685 million. the designated leasing agent for Two large office purchases by a MAX at Kierland. AZBEX - Tip of the Week Canadian real-estate investment Read more at AZCentral We don’t normally track residential Project Opportunities trust, or REIT, contributed work but when a public entity adver- tises residential work, we will track it in the Maintenance Section of the Project Solictations Editor’s Picks from the Last Issue • 170M Salt River Entertainment Project Includes Butterfly World • Maricopa to Pick Developer for Business Park People enter the MAX at Kierland office building in Scottsdale, AZ, on August 8, 2012. The Phoenix area recently was named in the list of top 10 metro areas in the U.S. for foreign real-estate invest- ment in the second quarter of 2012. The MAX was purchased by Canadian firm Artis REIT. Click here to return to Table of Contents 4 Volume 3 Issue 51 Home Values Hit Tipping Point: Existing vs. New Build By Eric Jay Original source: Phoenix Business Homebuilders Become More Active Sales of single-family homes in June Journal (for FISERV Case Shiller) were down 16 percent from a year Toll for The Meritage Homes recently acquired ago, which was largely driven by Arizona Builder’s The huge gains in Phoenix-area a $125M line of credit anticipating the diminishing supply of existing Exchange home values over the past few increased new home construction homes on the market. For example, months have started to mellow this demand. It’s one of the seven Phoenix-area inventory was down summer, according to the latest builders committed to developing 33 percent as of Aug. 1 from a year housing report released Thursday in DMB’s Eastmark property. The earlier. The supply of distressed by Arizona State University’s W.P. company is also actively building new properties, or lender-owned homes, Carey School of Business. Regardless, homes in Marana. fell by a staggering 68 percent during the tipping point is approaching the Three weeks ago, Lennar paid $5M the same period, the report said. level at which it’s better for buyers to pick up 200 homes sites in Queen to consider a new home rather than Creek and San Tan Valley. This action fight investors in the existing home was in addition to its proposed market. change in density and new home The Phoenix market has become prices at Asante in Surprise. Other so flush with investors that 38.4 Valley homebuilders are also jumping percent of home sales in June were to bring new lots into the market. purchased without financing, he Maracay and Mattamy acquired said. By comparison, that number more than 325 homesites at was only 8.3 percent back in June Eastmark between the two builders. 2007. June over May Gains Modest, says As a result of the rapidly rising W. P. Carey prices and bidding wars, more Some Contrarian Views Are in the In June, W. P. Carey School of owner buyers are now turning to Market Business reports the median single- that market out of frustration, says family home price in metro Phoenix Despite all the activity in the market, Michael Orr, the report’s author and was $150,000.
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