Construction Archives

LGE, Revelation Real Estate team up on $5M project

The $5 million mixed-use project planned for Revelation Real Estate broke ground today at 2301 South Stearman Drive, Chandler, AZ 85286.
by in AZRE Magazine | Construction | Mixed-Use | Office

LGE Design Build broke ground today on a massive $5 million mixed-use project for Revelation Real Estate in Chandler. Revelation Real Estate sets the gold standard when it comes to offering top-notch residential properties and employing the Valley’s most award-winning professionals, and LGE Design Build, too, sets the bar when it comes to designing and… Read More →

Valley’s industrial market remains red hot

New York Life Insurance Company

The Metro Phoenix industrial market remains strong through the third quarter of 2016, recording a vacancy rate of 9.3%, according to the third quarter industrial report released by Cushman & Wakefield. Fifteen of the 17 defined submarkets have experienced improvements in overall vacancy rates since Q3 2015. The Southwest Phoenix saw a decrease in vacancy, finishing… Read More →

Adaptive reuse project revitalizes Roosevelt Row Arts District

The Blocks at Roosevelt Row (Photo courtesy of Desert Viking)

A NEW DOWNTOWN PROJECT MERGES CHEF-DRIVEN DINING, ARTISAN RETAILERS AND WORKING ARTIST STUDIOS AND GALLERIES TOGETHER IN ONE COLLECTIVE SPACE ~The Blocks of Roosevelt Row Indulges Guests with a Place to Connect, Create and Collaborate~ Desert Viking Development is thrilled to announce a new project underway revitalizing a portion of the Downtown Phoenix’s beloved Roosevelt… Read More →

Camelback Corridor redevelopment property sells for $17M

Camelback Collective rendering (Courtesy of CBRE)

Obsolete Office Project Slated for Redevelopment into High-end Mixed-use Project  A prominent ±3.62 acre infill, redevelopment site located in the prestigious Camelback Corridor area of Phoenix has sold for $17.475 million, or $111 per sq. ft. of land. The property, located at 2801 and 2845 E. Camelback Road, was acquired by a joint venture of… Read More →

ASU breaks ground on $120M Biodesign C Research Building

(Rendering courtesy of McCarthy Buildings Companies)

McCarthy Building Companies recently broke ground on the new $120 million Biodesign C Research Building, the third building in ASU’s Biodesign Institute complex at Arizona State University. The new research facility will include five stories plus a basement and will be located on ASU’s main campus in Tempe, Ariz., adjacent to the ASU Biodesign B building.… Read More →

Construction input prices begin to trend higher

PHOTO BY: Risk Management | Monitor
by in AZRE Magazine | Construction

Both nonresidential and overall construction input prices increased in September, with natural gas and crude petroleum prices bouncing back, according to analysis of the U.S. Bureau of Labor Statistics (BLS) Producer Price Index released Friday by Associated Builders and Contractors (ABC). The BLS data show that nonresidential input prices expanded 0.3 percent on a monthly basis… Read More →

LGE Design Build completes Modern Flames headquarters (photos)

Modern Flames
by in AZRE Magazine | Construction

LGE Design Build has completed construction on a corporate headquarters, warehouse and distribution center in Phoenix for Modern Flames, a leading manufacturer of electric linear fireplaces distributed internationally for use in residential and commercial settings.   Photos courtesy of LGE Design Build Modern Flames occupies about 23,000 square feet of the 43,000-square-foot building, 3525 E.… Read More →

Contractor confidence dips in the first half of 2016

Construction employment
by in AZRE Magazine | Construction

The average contractor is less confident regarding business prospects for the next six months, but the nonresidential construction recovery is anticipated to remain in place, according to the Associated Builders and Contractors (ABC) Construction Confidence Index (CCI) released Thursday. The diffusion index measures forward-looking construction industry expectations in sales, profit margins and staffing levels, with… Read More →

McCarthy breaks ground on Surprise West-MEC Campus

by in AZRE Magazine | Construction

McCarthy Building Companies broke ground on a $12.9 million new construction project for Western Maricopa Education Center (West-MEC) in conjunction with SPS+ Architects and Architechnology. The West-MEC Northwest Campus project, which will be located on the southwest corner of Dysart Road and Grand Avenue in Surprise, Ariz., will serve approximately 200 students when it opens in fall… Read More →

Construction employment rebounds with strong September

Construction employment
by in AZRE Magazine | Construction

The construction industry rebounded in a meaningful way in September by gaining 23,000 net new jobs on a monthly basis after losing 5,000 net jobs in August, according to an analysis of U.S. Bureau of Labor Statistics data released today by Associated Builders and Contractors (ABC). Despite the broader industry gains, the nonresidential sector added just 2,700… Read More →

Nonresidential construction spending slips in August

PHOTO BY: Risk Management | Monitor
by in AZRE Magazine | Construction

Nonresidential construction spending fell for a second consecutive month in August, according to analysis of U.S. Census Bureau released today by Associated Builders and Contractors (ABC). Nonresidential spending totaled $686.6 billion on a seasonally adjusted, annualized basis for the month, 1.1 percent lower than July’s total of $694.1 billion (revised down from $701 billion) and… Read More →

Construction unemployment rates improve in 48 states

by in AZRE Magazine | Construction

August not seasonally adjusted (NSA) construction unemployment rates improved in 48 states and the nation on a year-over-year basis, according to analysis released today by Associated Builders and Contractors (ABC). The national NSA construction unemployment rate of 5.1 percent was 1 percent lower than a year ago, according to data from the Bureau of Labor Statistics (BLS), producing… Read More →

East Valley development shows results of market health

by in AZRE Magazine | Construction

Evidence of a healthy commercial real estate market can be seen throughout East Valley cities where economic development directors expect continued activity as a result of recent success stories and other big plans in the works. The cities of Chandler, Gilbert, Mesa, Scottsdale and Tempe share a common goal to progress their communities through economic… Read More →

Construction backlog for contractors reaches a new peak

PHOTO BY: Risk Management | Monitor
by in AZRE Magazine | Construction

Construction backlog for large contractors reached a new peak of 14.06 months during the second quarter of 2016 according to the Associated Builders and Contractors (ABC) Construction Backlog Indicator (CBI) released Tuesday. The new high for companies with annual revenue above $100 million shattered the previous high of 12.25 months for any revenue segment, which… Read More →