A New Work-From-Home Movement Is Gaining Steam. Why Aren’t Office Landlords More Worried?

A chasm is widening between owners and occupants of office real estate around the country.   Though the coronavirus pandemic has thrust thousands of companies into remote work, office landlords are counting on most of them eagerly returning to their now-deserted offices. Given how well many companies report the forced experiment has gone, data shows that […]

Massive mixed-use redevelopment planned in Old Town Scottsdale

  Steven and Shawn Yari have major plans for redevelopment in Old Town Scottsdale. The top executives with California developer Stockdale Capital Partners have submitted plans to the city for the Scottsdale Collective project, which aims to “evolve and mature the greater entertainment district-area into a mixed-use district,” according to plans submitted to the city. Those plans […]

Valley landlord: PPP loans led to more companies making May rent than expected

After a chaotic April of completing lease amendments, when May rolled around, more Phoenix tenants than expected were able to make rent, especially those that received PPP loans from the SBA. “We’ve had tenants who we made lease amendments for then get their PPP funds, and a number have called us and said, ‘tear up […]

Rankings Of The Best And Worst U.S. Cities For Coronavirus Quarantine

Earlier this week, career resource site Zippia released rankings of the best and worst cities in the United States in which to quarantine. Unlike most other livability rankings of cities, which tend to be based on factors like the job market, real estate prices and how vibrant a dining or arts scene a metropolitan area has, this […]

Office Tenant Demand Has Slowly Returned in Phoenix

Office tenant demand has started to rebound in Phoenix. Lease transactions abruptly stopped in March, with tenants either placing existing negotiations on hold or calling off the search for a new space. While activity has nowhere near rebounded to pre-coronavirus levels, some tenants are starting to re-enter the market or revive existing lease transactions. While […]

Should Real Estate Buyers Move Forward During COVID-19?

No matter what industry you are in, you’re most likely feeling the effects of the coronavirus pandemic. Real estate is no different. The uncertainty is making a lot of buyers think twice before signing on the dotted line for their new office, retail location, warehouse, etc. However, local commercial real estate firm LevRose is advising its […]

Phoenix Real Estate Firm Secures $500 Million to Invest in Properties

Fundamental Income, a Phoenix-based investment firm focused on single-tenant, net-leased real estate, launched new platform, called Fundamental Income Properties, to buy and lease back single-tenant buildings. The firm already has received a $500 million initial equity commitment from Toronto-based Brookfield Asset Management Inc. to invest directly into properties. Alexi Panagiotakopoulos, co-founder and CIO of Fundamental […]

Big-box industrial properties expected to best weather pandemic in Phoenix

As Americans and consumers around the globe turn to e-commerce for basic chores such as grocery shopping, it comes as no surprise that industrial real estate has remained steady during the Covid-19 pandemic. However, not all industrial buildings are created equal. Small and midsize industrial tenants are likely to be more immediately affected by closures […]

NAIOP: These real estate trends are speeding up in wake of COVID-19 in Arizona, nationwide

The disruption in normal business caused by the novel coronavirus is accelerating certain real estate trends nationwide and in Arizona. The nation’s shift to online purchasing and working from home has kept the need for industrial buildings and data centers high. Arizona has become an attractive place to develop both industrial and data centers due […]

Federal Coronavirus Relief Efforts Near $5.6 Trillion. Here’s How It Adds Up

The outlay from the federal government and Federal Reserve to counter the U.S. economic shock from the coronavirus pandemic is approaching $5.6 trillion in loan and cash assistance to hundreds of millions of American citizens and businesses. Moreover, the amounts are likely to swell as efforts to contain the spread of the virus continue for […]

Why This Broker is Telling Owner-User Buyers to Close

The pandemic has sent a shock through the real estate markets, and many buyers have canceled or delayed current deals to wait out the new market. Jon Rosenberg of Levrose Commercial Real Estate, however, is encouraging owner-user buyers specifically not to hesitate and to close current deals. Owner-users have different needs and requirements than investment buyers, and securing […]

As Arizona Courses Thrive, Investors Give Golf Properties A Closer Look

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 April rents loom, Phoenix real estate leaders grapple with potential losses

As April 1 approaches and some Valley businesses have gone two weeks without normal business operations, property managers and landlords in the region are grappling with the possibility that many tenants will not be able to make rent. “Let’s start planning on April rent being a challenge for everyone,” said David Verwer, director of real […]

Scottsdale broker: Real estate transactions down, not stopped in wake of coronavirus

Real estate transactions such as leases and building sales have slowed but not halted in the wake of sweeping business closures due to the novel coronavirus, according to a commercial real estate expert. Jon Rosenberg, designated broker and managing partner of Scottsdale-based LevRose Commercial Real Estate, said he has seen clients put lease discussions on […]

SkySong 6 Design Plans Presented to City for Review, With Construction on New Building Scheduled to Start in May 2020

Scottsdale, Arizona — The developers of SkySong, The ASU Scottsdale Innovation Center have filed for design approval with the City of Scottsdale for SkySong 6, which will be the largest building in the project. SkySong 6 will be the next building to be constructed at SkySong, with construction now scheduled to begin in May 2020. […]

Heading Into 2020, Here Is What Foreign Investors Are Targeting In CRE

China’s retraction from the United States commercial real estate market has left a mark — but there are new substitutes waiting in the wings, coming from all corners of the globe. “Within the last 24 hours I’ve met with a Chilean group, as well as a German group last night for a closing dinner,” Nuveen […]

Multi-billion-dollar Akimel 7 planned at Loops 101 and 202

Cameron Colvin, chairman of CamCo Commercial Inc., today announced that The Solanna Group LLC and CamCo Commercial have formed a joint venture entitled “Akimel 7 Productions,” to include a land lease arrangement to develop a multi-billion-dollar next generation sports and new media entertainment destination called Akimel 7 at Loops 101 and 202 in Scottsdale on […]

Fall 2019 Arizona Case Law Affecting Commercial Real Estate and Lending

Arizona Case Law – Deed Restrictions Swain v. Bixby Village Golf Course (AZ Court of Appeals 9-19-2019) This dispute has been covered in the local newspapers for the past several years. Chicago Title Agency was the original owner of the Ahwatukee Lakes Golf Course (and at some point also acquired the Ahwatukee Country Club Golf […]

Year in review: Commercial real estate deals boom in Valley during 2019

Here’s a quick look at the major highlights of the year in commercial real estate in the Valley, with the top story from each month: January A bankruptcy court ruling opened up nearly 5 square miles of land near Desert Ridge Marketplace. California-based Crown Realty and Development acquired 96.5 acres of the land and master developer rights […]

Plans revealed for $157M Valley office project on tribal land

Palmer Development, the company behind several major projects on the Salt River Pima-Maricopa Indian Community near Scottsdale, has plans for another $157 million office complex on the reservation. The new development, called the Sydney, will be built at the southeast corner of Pima Road and Loop 101, directly south of another planned Palmer Development project, […]

Papago Plaza breaks ground on massive redevelopment

Sigma Contracting, Inc. today broke ground at iconic Papago Plaza in Scottsdale for up to 88,000 square feet in new retail and office buildings and a 120,000-square-foot parking garage. Sigma’s portion of the project is valued at $11 million to $16 million and will consist of the complete demolition of the original Papago Plaza, 1408 N. Scottsdale Road, […]

Glendale to Grow as New Jobs Hub Forms off Loop 303

Drive along the outer edges of Luke Air Force Base now and you’ll mostly be looking out over farmland. In five years, or even sooner, Glendale officials say that won’t be the case. The corridor along Loop 303 near Northern Parkway is being envisioned as the Valley’s next industrial park, with giant manufacturing plants and […]

Levrose Commercial Real Estate closes $3.35m multi-tenant office/flex investment in Scottsdale Airpark

LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage closed the sale of a multi-tenant office/flex building in Scottsdale, Arizona for $3,350,000. Located at 15207 N. 75th St., the sale was facilitated by Jason Reddington and Keri Davies of LevRose Commercial Real Estate. The property was sold to Airpark Office 75, LLC.  Reddington […]

LevRose Commercial Real Estate Closes $1.8 Million Multi-Tenant Office Investment in Scottsdale

Scottsdale, Arizona – LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage closed the sale of a multi-tenant office building in Scottsdale, Arizona for $1,800,000. Located at 8723 E. Via de Commercio, the sale was facilitated by Keri Davies and Jason Reddington of LevRose Commercial Real Estate. The property was sold to Everrich, […]

Phoenix Retail Outperforms Nation

Retail in Phoenix is outperforming the national market. A new report shows the retail vacancy rate in Phoenix has dipped below 10%, and with the rising demand has come increased rental rates. Overall, rates have climbed 3.2% over last year, but in the most popular submarkets, which include Downtown Phoenix, Scottsdale and Northwest Phoenix, rents […]

Phoenix Is No Longer An End-of Cycle Market

The cycle is mature—so mature that many are predicting a recession in the next 12 months. The mature cycle has meant peak pricing in many top markets, and as a result, investors have fled to secondary markets to chase yield, and Phoenix has been a favorite. In prior cycles, Phoenix has been a final play […]

Bringing the $200MM Bang to AZ

Bang Energy just acquired a new manufacturing and distribution facility in Phoenix, Arizona, for $52,323,000 million. This state-of-the-art facility will include newly engineered canning and manufacturing lines to produce Bang Energy at blistering speeds of 3,600 cans per minute! Production will also include other iconic beverage brands pioneered by Jack Owoc, Bang Energy CEO and […]

New Large-Format Starbucks Trades in Phoenix

A new large-prototype Starbucks has trades hands in Phoenix. The single-tenant property is a brand-new, 3,100-square-foot building with drive-thru. It traded hands for $3 million or $988 per square foot. The impetus for the large-format floor plan is to create a better experience and provide the community a place to hang out.   Originally Posted […]

LevRose Commercial Real Estate Welcomes Nate Goldfarb as Senior Vice President

  Scottsdale-based CRE Firm Hires CBRE Veteran to Specialize in Landlord and Tenant Representation for Office Properties in the Greater Phoenix Area Scottsdale, Ariz. – LevRose Commercial Real Estate, one of the Valley’s leading commercial real estate firms, recently added CBRE veteran Nate Goldfarb as a Senior Vice President to its growing team. Goldfarb will specialize […]

Co-working Is Disrupting Office Spaces

by Keri Davies Working from non-traditional spaces was once the realm of artists, writers and road warriors. People joked about those with computers taking up seats at coffee shops, cafes and restaurants, not seeing the larger trend coming into play. Today, it’s becoming a much different story. It is forecasted that by the year 2020, […]