Levrose In The News

Dick’s Sporting Goods to Bring Experiential Concept Store in Arizona

Dick’s Sporting Goods is set to introduce its national store concept, Dick’s House of Sport, in Arizona in 2025. The new concept integrates retail merchandise with sporting experiences like rock climbing, golf simulation bays, and multi-sport cages. While details about the Arizona project remain limited, public records indicate that Dick’s acquired around 11 acres of …

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Scottsdale Now the Nation’s Best City for Jobs, New Report Finds

Scottsdale has been identified as the top city for job seekers in the U.S., according to a recent survey by WalletHub. The study assessed 182 cities, considering job market and socioeconomic factors using 31 weighted metrics from various public and private sources. Scottsdale secured the top spot with the best job market ranking and the …

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Is Buc-ee’s Opening its Largest Store in Arizona?

Buc-ee’s, the Texas-based convenience store chain, is planning to open its largest store yet in Phoenix’s West Valley. The Goodyear Planning and Zoning Commission approved a zoning request for a 71-acre vacant property to accommodate a Buc-ee’s along with restaurants, hotels, and retailers. The proposed Buc-ee’s would be over 75,000 square feet, potentially becoming the …

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Industrial Space Occupancy Thrives in Phoenix Despite National Decline

Phoenix is defying national trends with a 3% increase in occupied industrial space and the delivery of 16.5 million square feet of industrial product in Q3 2023, making it a hub for tech giants. The construction workforce in Arizona is expanding alongside economic growth, adding over 900 construction jobs in the Phoenix metro area in …

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Mountainside Fitness Opening 20th Location

Mountainside Fitness is set to open its 20th location, a 40,000-square-foot studio in Avondale, hosting a preview party on Feb. 24. The new center will feature separate group fitness studios, a tiered cardio platform, a strength floor, a large child-care area, locker rooms, saunas, steam rooms, and a cold plunge. It will also include an …

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Infrastructure Work Begins on New Abrazo Campus at Verrado Way

Preparations are underway for the first phase of Abrazo Health’s new medical campus in Buckeye, near I-10 and Verrado Way. The 27-acre campus will include medical offices, ambulatory services, and an acute care hospital. The initial development phase involves a three-story, 60,000-square-foot medical office building, set to break ground in spring, with tenants including cardiology, …

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Phoenix Leapfrogs Dallas as U.S. Leader for Industrial Construction

In early 2024, Phoenix has surpassed Dallas-Fort Worth as the top industrial construction hub, boasting about 45 million square feet under development, the highest in the nation. This historic construction boom follows the completion of 30 million square feet in the previous year and 25.9 million square feet in 2022, contributing to a 15% increase …

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Banner Health Sells Major West Valley Medical Office Property; Plus 4 More Valley Deals to Know

A medical office property on the Banner Thunderbird Medical Center campus in Glendale has been sold in a ground lease transaction for $13.5 million. Phoenix-based Banner Health, the property seller, transferred ownership to Scottsdale-based UDLR Healthcare. The property, known as Thunderbird Medical Pavilion, is 50% leased, and Banner Health remains the largest tenant. UDLR Healthcare, …

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Auto Sales Company Bringing 500 New Jobs to West Valley

Dallas-based TriColor Auto Group plans to open a third facility in Surprise, metro Phoenix, creating 500 jobs. The new 258,000-square-foot warehouse will be situated at the northwest corner of Cactus Road and Summit Way, serving various purposes, including inspection, refurbishing, storage, and distribution. BlueScope Properties Group is developing the facility, marking their first project in …

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Developer with Large Industrial Presence in Phoenix Buys New Facility

An industrial facility in Phoenix, spanning nearly 250,000 square feet, was acquired for $20.4 million by a real estate investor and developer based in Newport Beach, California. The facility, designed for distribution and logistics, features various amenities and is strategically located near the Loop 202 and 59th Avenue. The buyer expressed satisfaction with the property, …

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New-Look Industrial Park in Southeast Mesa Moves Through Planning and Zoning Board

Plans for the Gateway Commerce Center II in Mesa, spanning nearly 28 acres, are progressing after receiving approval from the city’s Planning & Zoning Board. The center will house two industrial buildings totaling over 235,000 square feet, with modified plans featuring an industrial building for multiple tenants and a trans-load building for truck trailer transfers. …

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Developer IndiCap Eyes Groundbreaking for Once-Controversial The Ranch in Gilbert

A transformative project, “The Ranch,” is poised to break ground in Gilbert, spanning 300 acres for a diverse development mix, including industrial, retail, restaurants, and multifamily components. Led by IndiCap, Colmena Group, and Langley Properties, the groundbreaking is scheduled for May or June. Initially met with opposition for its industrial emphasis, the project’s revised plans …

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Evergreen Devco Eyes Development of Industrial Site Near Falcon Field Airport

Phoenix-based Evergreen Devco Inc. has filed an application for rezoning in Mesa to develop The Landing at Falcon Field, a business park near Falcon Field Airport. The project includes four industrial buildings totaling 551,320 square feet and 7,000 square feet of retail space with two drive-thru stores. The 33-acre site was purchased from Sam’s Club, …

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First Look: Caesars Republic Luxury Hotel in Scottsdale Progresses Ahead of March Opening

HCW Development is completing the Caesars Republic Scottsdale, an 11-story luxury hotel with 265 rooms and a $112 million budget, adjacent to Scottsdale Fashion Square. The project includes 20,000 square feet of event space, a ground-floor restaurant by celebrity chef Giada De Laurentiis, and various high-end amenities. HCW, with an 80-year land lease from Macerich, …

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Phoenix City Council OKs Plans for The Central Park Mixed-Use Project

The Phoenix City Council has granted approval for The Central Park project in Midtown, featuring 1,450 residential units, retail and restaurant spaces, and office space. The development, located at Central Avenue and Indian School Road, emphasizes a central open space plaza designed to serve as a gathering point for the community. Initial plans for the …

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Mack Real Estate Group’s Infill Industrial Project in Scottsdale Heads for Review

Mack Innovation Park, a proposed industrial and flex office space project in Scottsdale, aims to bring 1.2 million square feet of space across 11 buildings to the Northeast Valley. The developer, Mack Real Estate Group, acquired 124 acres at an Arizona State Land Department auction in March 2022. The project’s first phase, comprising four buildings …

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California Company Debuts in Valley with Plans for Goodyear Industrial Park; Plus More Deals to Know

California-based DIV Industrial has acquired nearly 50 acres in Goodyear for its first Valley project, the Sarival Business Park. The planned development includes five industrial buildings totaling 847,988 square feet and is set to start construction in Q1 2024, with completion expected in early 2025. Each building offers substantial power, expansion opportunities, grade-level and dock-high …

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Nearly 100,000-Square-Foot Retail Center Proposed for Buckeye

Scottsdale-based SimonCRE plans to develop a $60 million retail center, Roosevelt Commons, on a 15-acre site near Verrado Way and Roosevelt Street in Buckeye. The project, featuring 93,000 square feet across eight buildings, will include popular Sonoran-style Mexican eatery Someburros and a Hampton Inn & Suites hotel with 100 rooms. Construction is set to begin …

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Phoenix Retail Space Availability Falls Below US for First Time in 15 Years

The Phoenix retail market has reached a significant turning point, with the share of available space for lease dropping to 4.6% in the third quarter, surpassing the 4.9% national level—the lowest in at least 15 years. Over the past decade, Phoenix consistently had a higher availability rate than the national average, but a historic run …

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New $28M Community for Veterans, Seniors Coming to Phoenix; Plus 9 More Valley Real Sstate Deals

Phoenix sees diverse real estate developments, including a 60-unit low-income senior and veteran apartment community by Pennrose LLC, a $25 million mobile home park portfolio deal closed by HARRI5 Manufactured Housing & Commercial Brokerage, and Libeskind Studio Design’s plans for a 68-unit apartment community in the Roosevelt Row Arts District. The Brokery hosts a grand …

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Amkor Plans $2 Billion Facility in Peoria for Packaging Apple Computer Chips

Amkor Technology Inc. plans to invest $2 billion in a new semiconductor facility in Peoria, metro Phoenix, creating 2,000 jobs. The facility will handle advanced packaging and testing for semiconductor chips, including those destined for Apple products. The company, with a presence in the Valley since the 1980s, aims to contribute to the U.S. semiconductor …

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M&A Wrap: Surprise RV Dealership Scooped Up, Plus More Deals to Know

Lazydays Holdings Inc. (NasdaqCM: LAZY) has acquired the Orangewood RV Center in Surprise, Arizona, renaming it Lazydays RV of Phoenix at Arrowhead. This acquisition marks the company’s fifth in 2023 and increases its total locations to 24 nationwide. The estimated annual revenue from the Surprise location is $40 million. Lazydays had previously planned a dealership …

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Target Among Major Tenants Announced for Verrado Marketplace in Buckeye

Phoenix-based Vestar and DMB Associates have confirmed Target, Safeway, and a Harkins BackLot entertainment complex as anchor tenants for the Verrado Marketplace, a 500,000 square feet shopping center in Buckeye, Arizona. The center will also feature discount retailers Marshalls, Ross, and HomeGoods, along with other amenities. Construction is set to begin in the summer of …

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Developer Closes on Nearly 100 Acres for Mixed-Use Project

A $250 million development project is underway in west Phoenix, involving the acquisition of nearly 100 acres of land. The project includes a 1.3 million-square-foot industrial park, along with 14,000 square feet of restaurant and retail space on approximately seven acres. The first phase, featuring four buildings with a total of 670,000 square feet, is …

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Old Dominion Freight Line Logistics Company Could Build West Valley Facility

Potential industrial developments are on the horizon in the western Phoenix area, where a major logistics company is considering a new facility. The location’s proximity to the airport and a key highway has made it attractive for industrial growth. The city council is scheduled to vote on annexing the site, reflecting a broader trend in …

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Film Production Hub Gets Initial Green Light from Maricopa County

A film production hub project in metro Phoenix has received initial approval from the Maricopa County planning and zoning commission. The proposed Desert Studios Complex aims to create numerous film studios and supporting facilities, potentially generating over 6,000 direct jobs and 5,000 indirect jobs in the Buckeye area. The project also received approval for a …

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Phoenix Second-Hottest Market for Real Estate in 2024

Phoenix has regained its status as one of the hottest real estate markets in the U.S., according to a recent Urban Land Institute study. It was ranked the second top market to watch for overall real estate prospects in 2024, behind Nashville and just above Dallas-Fort Worth. The city’s growth is attributed to factors such …

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Vensure Employer Solutions Opens Global HQ Within Chandler’s Price Corridor

Vensure, a human resources company, has moved into a new flagship headquarters office in Chandler’s Price Corridor, with a grand opening held on October 26. The new office, located at 1475 S. Price Road, is significantly larger than its previous location, with three floors, each having a 50,000-square-foot floor plate. The company, which offers back-office …

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1.2 Million-Square-Foot Southern Industrial Center Completed in Buckeye

Parklane Development Group and Miramar Industrial Partners have completed Southern Industrial Center, a 1.2 million-square-foot Class A industrial project in Buckeye, Arizona. This award-winning project is well-suited for e-commerce, warehouse, and logistics tenants and features a 40-foot clear height, numerous dock doors, and ample parking. Southern Industrial Center is strategically located with direct access to …

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Vehicle Supplier Signs Big Lease in Phoenix; Other Projects Break Ground

Fox Factory Inc., based in Duluth, Georgia, has leased a 112,000 SF warehouse in north Phoenix for over $12 million. They plan to use it as a regional assemblage manufacturing plant, creating 100 new jobs, focusing on aftermarket parts for utility task vehicles and all-terrain vehicles. The facility, called 17 North Corporate Center, is well-equipped …

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