Saudi Arabia’s Public Investment Fund is extending another $1.75 billion in credit to Lucid Group, the electric vehicle maker that builds its Air sedan and Gravity SUV in Casa Grande. The deal deepens a relationship that helped Lucid build its Arizona factory and now supports its plans to build a more affordable line of electric vehicles in Saudi Arabia. Lucid disclosed the … [More]
Phoenix PR Firm Debuts with a Focus on Regulated Industries
Blaire & Co. Strategic Communications, a new Phoenix-based public relations and public affairs firm, has opened to serve organizations in technology, healthcare, real estate and other regulated and B2B industries. Founder Erica Fetherston, who brings more than 15 years of communications experience in Arizona and across the globe, directly leads every engagement, from … [More]
Global Investor Acquires 460,000 SF of Industrial Space near Sky Harbor
Oxford Properties Group, a global real estate investor, developer and manager, announced that it has acquired a high-quality six-property, 460,000 sq. ft. light industrial portfolio situated within the Tempe and Airport submarkets of Phoenix, AZ. With this transaction, Oxford further scales its footprint in Phoenix up to 15 assets and approximately 1.2 million sq. ft., … [More]
Phoenix Advances 34-Acre Waste Recovery Campus to Extend Landfill Life
The Phoenix City Council on Nov. 4 approved terms for a 99-year ground lease and a 50-year waste supply agreement for the Resource Innovation Campus, a planned development where businesses can turn materials headed for the landfill into new products. The lease covers 33.9 acres near 35th Avenue and Elwood Street in south Phoenix, with about 22 acres slated for development. RIC … [More]
How Can Arizona Train the Nursing Workforce It Needs?
Arizona's population continues to grow, and with that growth and aging, the demand for healthcare is high. From local hospitals and clinics to long-term care facilities, leaders across the Greater Phoenix community are facing the challenge of finding enough resources to care for everyone. At the heart of this issue is a national nursing shortage. The U.S. Bureau of Labor … [More]
California Firm Acquires Phoenix Food Distributor Serving Arizona Since 1988
Vesta Foodservice announced it has completed the acquisition of the Peddler’s Son business, expanding its investment in Arizona and bringing together two established foodservice distributors with longstanding customer and supplier relationships in the market. Vesta has served the Phoenix market since 2001 and opened a new distribution facility there in 2021. The acquisition … [More]
Phoenix Oatmeal Brand Bets on Iced Coffee with 1,300-Store Rollout
Oats Overnight, the company known for making protein-forward nutrition more craveable and convenient, announced that Oon Iced Protein Coffee is now available exclusively at participating Target stores nationwide and on Target.com. Each single-serve pack of Oon Iced Protein Coffee has 10 grams of protein, 100 milligrams of caffeine and bold coffee flavor. Just pour it into … [More]
Seven Grocery-Anchored Arizona Shopping Centers Sell for $108.7M
JLL Capital Markets announced the $108.7 million sale of Arizona Grocery Portfolio, a seven-property, 422,949-square-foot grocery-anchored retail portfolio located across Phoenix and Tucson, Arizona. JLL represented the seller, A&C Properties Inc., in the transaction. 11North Partners acquired the asset. Working on behalf of the new owner, JLL also arranged $66.36 million … [More]
Tempe’s 1.8% Retail Sales Tax Rate Poised to Hold as Proposition 424 Trails
Nearly 60% of Tempe voters who weighed in on Proposition 424 voted against the proposed half-cent sales tax increase, according to unofficial results from Maricopa County Elections. The Nov. 7 tally showed 30,337 votes against the measure, or 59.69%, and 20,489 in favor, or 40.31%. If the results hold, Tempe’s city sales tax rate on retail purchases will stay at 1.8%. The … [More]
Valley Reservoirs Rise to 70% Full as SRP Looks to Expand Storage
Recent storm systems brought significant rainfall and runoff across central Arizona, which generated substantial inflows into the Salt and Verde River reservoir system and helped replenish water supplies following several years of dry conditions. At the peak of the event, inflows into the Verde River reached an estimated 94,000 cubic feet per second, while combined inflows … [More]
