Phoenix Sky Harbor Bond Rating Upgrade with Record Passenger Numbers Echo Tourism Recovery

​Moody's Investors Services raised its long-term rating to Aa2 from Aa3 on Phoenix Civic Improvement Corporation's (CIC) senior-lien general airport revenue bonds (GARBs) and raised its long-term rating to Aa3 from A1 on CIC's junior-lien GARBs, issued on behalf of Phoenix Sky Harbor International Airport (PHX).  Both credits have stable outlooks. Moody's also assigns Aa2 to … [More]

New Restaurant Opens in Gilbert’s Epicenter at Agritopia

Spinato’s Pizzeria & Family Kitchen is expanding its presence into the East Valley, with a new, modern restaurant opening in Gilbert’s Epicenter at Agritopia. Epicenter is an exceptional residential and retail destination in the heart of Agritopia, the highly regarded vertical mixed-use development that has redefined the community of Gilbert. Spinato’s will officially open … [More]

Golf Club Closes for Greens and Bunker Renovation Project

Power Ranch Golf Club, owned by Thompson Golf Group, is closing its doors from May 15 to early September to complete an ambitious renovation. Led by Gary Brawley Design, the project will culminate in new greens that are easier to maintain, provide expanded areas for pin locations and create a more enjoyable and playable experience. While the course will be closed, the practice … [More]

Banks Combine to Create the Largest Community Bank Headquartered in Arizona

Bancorp 34, Inc., the holding company of Bank 34, and CBOA Financial, Inc., the holding company of Commerce Bank of Arizona, today jointly announced the signing of a definitive merger agreement to combine and form the second largest bank headquartered in Arizona. Under the terms of the definitive merger agreement, Commerce shareholders will receive 0.24 shares of BCTF common … [More]

Virtus Pays $49M for Phoenix Medical Office Building in The Grove on Camelback

by Madalina Pojoga

Virtus Real Estate Capital has acquired Banner Health Center Plus at The Grove, a 70,000-square-foot medical office building in Phoenix, for $48.5 million. The previous owner was RED Development, according to CommercialEdge data. JLL represented the seller. According to the same source, the property was subject to a construction loan of $30 million in 2021, provided by … [More]

Phoenix Suns, Phoenix Mercury Announce Groundbreaking Media Rights Deal

The Phoenix Suns and Mercury announced a new media rights deal with Gray Television, Inc. and Kiswe to deliver 100% of each team’s locally broadcast games via over-the-air television and streaming. Under the new deal, the Suns and Mercury games will be available to nearly 2.8 million households in Arizona, more than tripling the current number of homes the Suns and Mercury can … [More]

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