![]() Construction could begin by the spring of next year on a an expansive service center in Aurora that will belong to Excel Energy company. Plans call for the building of both office space and a warehouse facility that will go up on land Xcel recently purchased for $2.7 million. The High Point Elevated site encompasses a 5 million square foot industrial development park not far from the Denver International Airport. In remarks to the Denver Post, Robert Kennedy, president of Xcel Energy-Colorado, said the High Point facility will “provide easy access for Xcel Energy to better service our customers in the growing areas of Aurora and further east, as well as Denver International Airport.” Kennedy added that the new Xcel facility will “allow for a faster response time to service calls and will have room to house the equipment needed to grow our operations.” The announcement comes as the High Point Elevated business park, which was launched in 2021, has seen any number of new industrial and logistics space projects. The growing Excel, based in Minneapolis, currently serves a nearly 4 million customer base, stretching from Michigan and Minnesota, to vast reaches of Texas, New Mexico, and Colorado. By Garry Boulard
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![]() Despite investor concerns about cryptocurrencies, and the ongoing uncertainty regarding which party has won the House and Senate, stocks on Wall Street have seen their greatest increase since April of 2020. Stocks jumped to their biggest gains, reports the Wall Street Journal, in “more than two years, after softer-than-expected inflation data reignited bets that the Federal Reserve would slow the pace of its interest rate increases.” Altogether, the Dow scored a 1,200-point gain on signs that inflation is softening. Analysts also noted that a softer dollar and falling Treasury yields helped to boost stocks. Inflation on a year-to-year basis was additionally down to 7.7%. Investors were particularly impressed with a government report indicating that price increases overall eased last month. This trend was seen as particularly hopeful because it may mean that the Federal Reserve’s interest rates may be lessening inflation. According to news sources, traders now anticipate that the Fed will raise its benchmark lending rate next month, but by a small mark of half a percentage point. By Garry Boulard ![]() One of the most durable and popular fast food restaurant franchises in the county is about to build a new location in Tempe. With nearly 380 locations across the country, the White Castle company has long been a market presence on the East coast and throughout the Midwest. The company, founded in 1921 in Wichita, Kansas, has expanded into the West in the last decade, with locations in Las Vegas. Now White Castle has announced plans to build a 2,800 square foot restaurant on the south side of Tempe, Arizona. That location, at the Emerald Center near Interstate 10 and Warner Road, will feature a drive-in service and modern exterior design. The company opened it first Arizona location in Scottsdale some three years ago near Loop 101 and Via de Ventura. If all goes as expected, work on the new Tempe White Castle could begin later this year, with a late spring 2023 opening. White Castle outlets usually measure around 2,200 square feet, although in recent years it has greatly expanded its store sizes, opening a 4,500 square foot property in Orlando earlier this summer. By Garry Boulard ![]() In yet one more sign of how hot the southern Arizona residential market is, a more than 40-year-old complex at 15449 N. 25th Avenue has sold for a top dollar in Phoenix. The deal was brokered by the big real estate company Newmark and includes 200 units in a combination of styles ranging from 615 square feet to 967 square feet. The complex, called Cobblestone Apartments, also includes a fitness center, club house, swimming pool, and dog park. According to a statement released by Newmark, the Cobblestone properties was particularly well-situated given its proximity to the Taiwan Semiconductor company and its closeness to Arizona State Route 101. By Garry Boulard ![]() Even though final returns have yet to determine which party will control the U.S. House, a top official with the U.S. Chamber of Commerce says the returns thus far point to a victory for the business sector. In a statement, Suzanne P. Clark, chief executive officer of the U.S. Chamber, said the election has seen victories in dozens of both House and Senate races, as well as local contests, helping to “strengthen the business climate in those states.” Clark added that she is hopeful a “new majority in the House will seize the opportunity to fight inflation and crime, rein in regulation and hold agencies accountable through oversight, and put our economic security front and center.” Heading into Tuesday’s elections, the Democrats held a relatively narrow House chamber control of 220 seats, out of a total of 433 seats. Analysts throughout the year have noted that the Republicans only needed to win 218 seats to secure House control. As of Thursday morning, the Republicans have won 210 seats, compared with 192 for the Democrats. “Our government and our country ae as deeply divided as ever,” continued Clark in her statement. “It has never been more important for elected officials to address our nation’s challenges by bridging divides and forging durable solutions—just like business leaders across the country do every day.” By Garry Boulard ![]() A ballot proposal that would provide up to $300 million on an annual basis in Colorado for the building and creating of new affordable housing has still not been determined more than one day after the election. As proposed, Proposition 123 would set aside funding from a 0.1% tax each year for such projects. According to an analysis of the measure, it would have a capability of raising $145 million in the current fiscal year, and up to $290 million annually after that. The proposal, which won the backing of the National Association of Realtors and the Caring for Colorado Foundation, among other groups, as well as many local city officials, across the state. The initiative was opposed by the Advance Colorado Action, who said that it will take tax revenue that should otherwise be going to the people of the state. Natalie Menten, board member of the Colorado Taxpayer Bill of Rights Foundation, earlier this year said the measure would “get us more high-density housing and that is not what I want to see more of.” As it now stands, out of more than 1.9 million votes cast, the proposition is leading by a just under 27,000 votes, with the results expected to be certified within days. By Garry Boulard ![]() A group of investors is thinking about building an indoor venue with a seating capacity of around 5,500. That would be combined with an outdoor amphitheater capable of holding up to 8,000 people. The project would be built near the Sunland Park Racetrack & Casino, and is being explored by a group of investors, one of whom includes a Latino concert promoter and real estate developer from Colorado. Sunland Park, located in Dona Ana County, borders Texas and the Mexican state of Chihuahua. As planned, the project would be built within the boundaries of the Sunland Park Racetrack & Casino, which was originally opened in 1959. Future plans are likely to provide details of the ambitious music venture idea as investors and developers meet with City officials to more fully discuss the idea. By Garry Boulard ![]() By a large 66.1% to 33.8%, voters in New Mexico gave their approval to a ballot question calling for $24.2 million in bonds for the building and improvement of senior citizen facility improvements across the state. Those facilities are in nearly two dozen counties and six pueblos. Around $19.2 million in bond funding was approved for improvements to the state’s public and school-based libraries, winning by 63% to 37%; while 62% of voters gave their approval to Bond 3, which called for allocating up to $216 million, for higher education facility upgrades. The bonds will support projects in the big University of New Mexico and New Mexico State University systems, as well as around two dozen community and Tribal college facility projects. In Mesa, Arizona, voters approved a $157 million bond re-question that will go to fund new fire and medical facilities; police facilities; and public safety facilities. Voters also gave their approval to facility bond proposals in the Tempe Union High School District, as well as the Phoenix Elementary School District, the Union Elementary School District, and the growing Queen Creek Unified School District. In Douglas County, Colorado, it appeared that a $60 million bond for school facilities, including the construction of three new elementary schools, was heading for a narrow defeat. In the Weld County School District RE-4, a $271 million bond supporting school facility work for schools in both the cities of Windsor and Severance appears to have passed. By Garry Boulard ![]() An ambitious plan is being aired in Phoenix to create what would be the city’s Entertainment District. The plan comes by way of the Phoenix Convention Center, which is located at 100 N 3rd Street, and includes the expansion of the center itself, as well as the construction of a new hotel. Officials with the center have long wanted to create a kind of entertainment district in order to attract visitors to the downtown area and mulled the possibility of a market feasibility study two years ago. Similar projects have been launched in other U.S. cities and typically include restaurants, nightclubs, and hotels. According to published reports, the Phoenix entertainment district would be expected to feature up to 800 hotel rooms. Plans now call for a nonprofit group called Visit Phoenix to work with the convention center on a plan for building the district. By Garry Boulard ![]() 15-year-old modern structure some 10 miles to the northeast of downtown Albuquerque is listed for sale for $3.4 million. The 4,587 square foot structure, located at 8150 Paseo Del Norte, has served as the home to R. Greenleaf Organics, which offers a wide variety of cannabis products. The company operates similar stores in Grants, Roswell, Las Cruces, and Santa Fe, among other locations. The attractively designed building was built in 2007, and just underwent an extensive renovation. Sitting on a less than half-acre site, the property was formerly the home to the Cuticle Lounge Nail Salon, and before that was an outlet for the Tribal Arts store. The property is being listed by the San Francisco-based Cushman & Wakefield. By Garry Boulard |
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