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The Dealmaker: 12/19/2018

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox


My Brother’s Keeper Event. As part of the My Brother’s Keeper Event, Phoenix Suns Owner and Managing Partner Robert Sarver delivers a pep talk about what the Phoenix Suns and Suns Charities are doing, particularly when it comes to education and the goal of providing every kid with the kind of education that Robert Sarver himself provided his son. WATCH: http://bit.ly/2PPhCN4

Queen Creek could help ensure water flows for Johnson Utilities customers. “Arizona Corporation Commissioners voted Tuesday to hold hearings on Queen Creek’s request to take over portions of the company’s territory.” As AZCentral reports, the “town’s help could ensure that Johnson Utilities customers don’t see their water pressure drop or their taps go dry” and could also “ensure new development can progress.” http://bit.ly/2GxHptI

Johnson Utilities, Queen Creek still in talks on interconnection. San Tan Valley Sentinel with more on yesterday’s ACC action, plus news on the water-service interconnect agreement between Queen Creek and EPCOR, as well as an update on talks between the two regarding wastewater services. http://bit.ly/2EwWMjm

Hines and Cousins Properties buy Tempe land to develop 100 Mill.“100 Mill will consist of a 280,000-square-foot, 15-story class AA modern office tower and a hotel or multifamily tower.” Project rendering, plus pithy touts about the joint venture, courtesy high-level honchos from Hines, Cousins, and CBRE — at AZRE. http://bit.ly/2URF5Rv

A positive housing report? “Permits, housing starts, and completions all improved on a month-over-month basis and, except for completions, they were not token increases. The gains however did all come from the multifamily sector, single-family activity remained weak.” Mortgage News Daily has all the data. http://bit.ly/2STDtES

Rising labor costs send the price of house construction skyward. “What’s Up With Construction Costs?” A good question and also the title of a new housing-market analysis which finds “substantial differences in the price of labor have become the primary reason for stratifying construction costs across the country.” Check out highlights from the “What’s Up…” report in Curbed. (via Builder). http://bit.ly/2Eu95gi

9 in 2019: Housing trends to watch. Inventory. Affordability. Mortgage Rates. Lending standards. NerdWallet spotlights these and other trends to watch in 2019. (via Pro Builder). http://bit.ly/2EE9mya

2018 Year in Review: Commercial real estate booms as Valley economy kicks into gear. “Investor interest from both domestic and foreign sources picked up this year, with large deals happening in all product types throughout the Valley.” A month-by-month look back at the year’s top CRE stories, in PBJ (Subscriber Content). http://bit.ly/2EEd7Ur

2018 Year in Review: Big office deals centered around key submarkets. In 2018, Tempe emerged as the top submarket dealmaker in the Valley, an area which is “on track to see $3.1 billion worth of office investment transactions.” Tap on to PBJ for this SLIDESHOW look at the 15 biggest office transactions from the past year. (Subscriber Content). http://bit.ly/2Evl7pP

Fate of former Challenger building in Peoria is still up in the air. “The facility had been intended to house Peoria Unified’s Medical, Engineering, Technology students, but now the district is looking at other options.” KEY OBSERVATIONS: “It is a circular building with a rotunda that has a space that is not usable…. It seems like a very big building, but by the way it is constructed, it is not very big.” YourValleyhttp://bit.ly/2RbkGYo

Scottsdale’s La Camarilla to be razed for new Mountainside gym. “La Camarilla, a fitness center landmark for Scottsdale and Paradise Valley, will be torn down to make way for a new Mountainside Fitness center. Controversial water company owner, George Johnson, is selling the gym built on seven acres at Shea Boulevard and 52nd Street in the early 1980s.” AZCentralhttp://bit.ly/2Re8Flj

Goldwater Institute continues battle over World View deal with Pima County. “On Monday, the conservative public policy think tank asked the Arizona Court of Appeals to reverse the decision by a Pima County Superior Court Judge that favors the county, saying that the $15 million agreement did not violate the state’s gift clause laws.” Arizona Daily Starhttp://bit.ly/2QEh4yX

Cameron’s $5M + deals of the day – http://bit.ly/2Gtsq49 

10th Annual AZ DealMakers – January 11, 2019. Don’t miss out on the BIGGEST homebuilding industry event for real estate forecasting and analysis, featuring the best speakers in the industry, including Meritage Homes Chairman & CEO Steven J. Hilton and Christopher Todd Communities CEO Todd Wood. Plus, Belfiore Real Estate Consulting President & Founder Jim Belfiore provides an Overview on Housing. For the full list of speakers & panelists, along with registration info for Arizona Housing: Growth, Its Costs, Challenges & Opportunities, tap on! http://bit.ly/2LAvclq 

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As a supplement to the Dealmaker, we thought you might enjoy these articles!

Grijalva cleared of wrongdoing in $48K settlement with female staffer.“The House Committee on Ethics has cleared Rep. Raul Grijalva (D-Ariz.) of any wrongdoing for a settlement he made with a former female staffer who accused him of being drunk on the job, according to a document obtained by The Hill.” http://bit.ly/2EEMZZn

Trust in the media is starting to make a comeback. “New studies suggest that efforts to bring transparency to media — including attempts by journalists to publicly defend their work [and] improved fact-checking partnerships — have helped the media recover a bit of trust with the public after hitting an all-time low in 2016.” Axios. http://bit.ly/2R8cKY3

Electric scooters leaving a trail of broken bones, bruises. “The electric scooters making headway into Gilbert and the rest of the East Valley have been linked to fractures, sprains, bruises and abrasions — and even death. Doctors are dealing with the fallout from the popularity of the two-wheel rentals that can go as fast as 15 mph.” EV Tribune. http://bit.ly/2QLoEYE


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