The Navajo Nation is currently building its first utility-scale solar farm on 300 acres near Monument Valley. The $64 million facility is expected to generate enough power for 7,700 homes in New Mexico, Arizona and Utah after its completion in late 2016.
T-Mobile, AEG and MGM Resorts International announced this week that the new 20,000-seat Las Vegas sports and entertainment venue located behind New York-New York and Monte Carlo on the Strip has a catchy new name: T-Mobile Arena.
In a naming right agreement negotiated by AEG Global Partnerships, the T-Mobile Arena is set to host concerts, bull riding, UFC, boxing, hockey, basketball, awards shows and more. Already, all 42 of T-Mobile Arena’s luxury suites have sold, but a limited number of opera boxes, club seats, and bunker suites are still available. T-Mobile Arena will have a limited number of founding partners, which includes Coca-Cola, Cox Business, Toshiba America Business Solutions Inc. and Schneider Electric.
ViaWest Group announced it will undertake a multi-million dollar renovation of the Biltmore Financial Center. The soon-to-be-renovated Class A office complex consists of three buildings and approximately 635,000 square feet at the northwest corner of 24th Street and Camelback Road in Phoenix. Renovation begins in January, ViaWest expects it to be complete in July.
Valley Partnership announced that its annual ‘look ahead’ will take place on Jan. 29th and features a panel of real estate experts including Alan Maguire, President and Principal Economist, The Maguire Company; Sheryl Palmer, President/CEO, Taylor Morrison; and Neil Giuliano, President/CEO, Greater Phoenix Leadership. Kurt Rosene, Principal of NOVO Development, will moderate the panel. The focus will be on the annual commercial real estate preview for the coming year.
At the International Consumer Electronics Show in Las Vegas, American International Group, or AIG, announced its investment of an undisclosed amount in Human Condition Safety, a maker of wearable devices. The company’s offerings include sensored construction vests designed to monitor the movements of employees in factories, construction sites, and other hazardous workplaces in an attempt to reduce on-the-job accidents. AIG's interest in the wearables stems from a broader push from insurers to use the sophisticated data analysis from the devices in an attempt to cut costs and boost profits.