SCOTTSDALE, ARIZONA – The Metro Phoenix commercial real estate market remained vibrant in 2021 for LevRose CRE professionals, whose top 5 sales deals alone fetched more than $69 million. “We were not only excited to see a diverse mix of our top sales and leases (office, retail, industrial and land), but we were thrilled to …
The Metro Phoenix commercial real estate market remained vibrant in 2021 for LevRose CRE professionals, whose top 5 sales deals alone fetched more than $69 million. “We were not only excited to see a diverse mix of our top sales and leases (office, retail, industrial and land), but we were thrilled to have so many different teams …
A proposed redevelopment of much of downtown Scottsdale’s Entertainment District will go before the city’s Planning Commission on Tuesday, Oct. 27. The Scottsdale Collection would replace a handful of bars, clubs and office space with 580,000 square feet of commercial space, hundreds of apartments and hotel rooms and buildings as tall as 150 feet. The …
Planning Panel to Consider Entertainment District Plan Read More »
PHOENIX- The COVID-19 pandemic sent a majority of the workforce home and out of the office, but that doesn’t mean commercial real estate in Arizona took a hit. “The perceptions of a negative market are pretty over-exaggerated at this point,” Jon Rosenberg, co-founder of LevRose Commercial Real Estate, told KTAR News 92.3 FM. He adds that …
Commercial Real Estate Grows in Arizona Despite Hits From COVID-19 Pandemic Read More »
The city of Glendale is seeking to annex another 36 acres of land next to the Loop 303 for a proposed industrial, commercial and residential development. The site plans call for a mixed-use project on the southeast corner of Northern Avenue and Cotton Lane and could include three buildings totaling about 345,000 square feet …
Glendale Seeks To Annex 36 Acres For Mixed-Use Project With Commercial, Residential Read More »
The facility is envisioned as a sustainable showcase, using 100 percent renewable energy. Facebook plans to expand its data center footprint to the state of Arizona with the opening of an $800 million project in the Phoenix area. The Facebook Mesa Data Center is expected to span approximately 960,000 square feet in Mesa and …
A proposed industrial project in Mesa would cover more than 100 acres and cost up to $150 million, if the project is approved by Mesa City Council. The AirPark 202 project would consist of six buildings, totaling 1.5 million square feet of new “high-quality” industrial space. It is being proposed on the southeast corner of Warner …
1.5 Million-Square-Foot Industrial Project Proposed for 100 Acres in Mesa Read More »
There is tremendous opportunity in Greater Phoenix to grow business and continue diversifying our economic and employment base that will bring opportunity for our residents and move our innovation-centered economy forward. Supporting this assessment, Chris Camacho, president and CEO of Greater Phoenix Economic Council, says, “To meet the increasing demand, buildings continue to go vertical …
Acquisition of 75-unit investment property brings growth to LevRose portfolio. Scottsdale, Arizona (December 21, 2020) – Scottsdale-based brokerage LevRose Commercial Real Estate is expanding its service offerings to include multifamily investment sales, and announced the closing of its first multifamily deal. Pueblo Springs Holdings LLC, an investment group based in Vancouver, Washington, bought the Pueblo …
One of the Valley’s most prominent restaurateurs was able to break records when opening a new restaurant in mid-October. The latest location of Sam Fox’s Culinary Dropout opened in the Scottsdale Quarter shopping center. Fox Restaurant Concepts, which was purchased by The Cheesecake Factory Inc. (Nasdaq: CAKE) in 2019, has been working on this location for a …
Latest Sam Fox Restaurant Opening Breaks Record, Even Amid Pandemic Read More »
A fourth-generation, Mesa-based family business is moving forward with its plans to renovate and expand the iconic Old Potato Barn in Gilbert, breathing new life into the 54-year-old barn that once housed the area’s potato supply. In June, the City of Gilbert approved plans for The Higley Barns, a multimillion-dollar, adaptive, mixed-use development that will …
Central Arizona Supply Unveils Plans to Renovate Historic Potato Barn in Gilbert Read More »
HonorHealth, a leading Valley healthcare system serving 1.6 million people in the greater Phoenix area, is opening HonorHealth Sonoran Crossing Medical Center in north Phoenix in mid-September. Featuring three stories, 210,00 square feet and 70 inpatient beds, this state-of-the-art facility is HonorHealth’s sixth medical center. Sonoran Crossing Medical Center serves residents of Anthem, New …
HonorHealth Opens Sonoran Crossing Medical Center Read More »
While sectors of Arizona’s economy have suffered financial losses during the pandemic, the state is faring better than much of the nation, according to a leading economist. If Arizonans can stay masked, socially distanced and sanitized, it has a good chance for full recovery as soon as mid 2021, said the state’s heavyweight economic forecaster, …
Here’s Why Arizona’s Economy Will Bounce Back Faster than Nation Read More »
Amazon.Com Inc. confirmed Wednesday that it plans to open 11 new sites in the Valley by the end of the year for fulfillment and delivery operations. The new sites include seven delivery stations and two additional facilities to support fulfillment, in Avondale, Chandler, Goodyear, Mesa, Phoenix and Tempe. The delivery stations will be located in: …
Amazon Confirms 11 New Metro Phoenix Sites Opening This Year Read More »
Capital Development Southwest Inc., in partnership with SLG Management, announces a new development project at The Pavilions at Talking Stick. The new Comfort Suites, a Choice Hotel brand, will break ground in August 2020. “This location is known to be one of the premier entertainment destinations in the southwest,” said Justin Gubler, SLG Management …
Hotel Breaks Ground at The Pavilions at Talking Stick Read More »
An Amazon delivery station is planned for a 38-acre site in Surprise near Litchfield Road and Soledad Street. “We’re energized by the opportunity to start our first official project as a company in our home state of Arizona,” Steve Backman, co-founder and partner of BH DevCo, the developer of the project, said in an email …
HCW, which has developed more than $2 billion in real estate in the last 23 years, in partnership with Caesars Entertainment Corporation, announced construction is currently underway for the 265-room Caesars Republic Scottsdale luxury brand hotel, and is on schedule to open in January 2022. “We are excited construction is moving forward as planned on Caesars Republic …
1st Non-Gaming Caesars Hotel Begins Construction in Scottsdale Read More »
The Phoenix market has officially opened for business, with all retailers allowed to serve customers. While some retailers have decided to stay closed or offer only limited service by their own choice, most are completely open and actually seeing activity from consumers. While there are no specific laws or restrictions in terms of safety, most …
Despite the slowdown that came from the novel coronavirus pandemic, the Valley remains well positioned for future office investment, experts from CBRE said. Barry Gabel, executive vice president of CBRE in Phoenix, said some of the deals he and his team were working with clients on were put on hold during the pandemic, but some …
Office Investors Still Interested in Phoenix Despite COVID-19, Industry Experts Say Read More »
While well over 90% of the United States observes mandatory lockdown requirements to prevent the spread of the coronavirus, observers locally have been startled to see people golfing across the state of Arizona. How is that possible? “Social distancing is a part of the sport of golf, so it is easy to adhere to,” Arizona …
As Arizona Courses Thrive, Investors Give Golf Properties A Closer Look Read More »
A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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