Why Industrial Remains Healthy for These Four Markets

The sectors in Austin Seattle, Phoenix and Miami may be running at different temperatures, but the fundamentals suggest they’re not overheating. By Bendix Anderson | May 19, 2021 at 04:45 AM | Full Article on Globe St. Here Strong demand is likely to fill millions of square feet of industrial space now under construction, according to “Industrial Trends in Austin, […]

Hospital groups partner to build freestanding pediatric hospital in Glendale

  Phoenix Children’s is going big in the West Valley. On the heels of investing $33.5 million to build a freestanding emergency department in Avondale, the pediatric hospital system is investing another $134.7 million to build a 3-story hospital in Glendale. The 180,000-square-foot hospital and 45,000-square-foot multispecialty clinic will be built on the north side of […]

8 Metro Phoenix data center developments to watch

Metro Phoenix data center development continues to surge, particularly in Goodyear, which is quickly becoming a technology hot spot. And the growth doesn’t appear to be slowing. Last year, Amazon bought 91 acres of land in Goodyear for $19.85 million, with talk of building a data center to help with its exploding Arizona presence. But […]

Here are the trends shaping senior living development

America is aging. According to the U.S. Census Bureau’s National Population Projections, in the next few decades, 1 in every 5 residents will be older than age 65, a number that’s projected to outpace those younger than 18 for the first time in history. “There are 10,000 people turning 65 every day in our country,” […]

Newly Released: Top Notable Transactions for May of 2021

Pictured Above: 7881 E Gray Rd, Scottsdale, Arizona | Represented by Kottler Cosgrove Team   LevRose Commercial Real Estate/TCN Worldwide has released the top notable transactions for May of 2021: Zak Kottler, Joe Cosgrove, Hunter Chasse, and Aaron Cook of LevRose/TCN Worldwide represented both sides of the transaction for 7881 E Gray Rd in Scottsdale, […]

LevRose Commercial Real Estate/TCN Worldwide Welcomes Branden Mondragon to Brokerage Team

  LevRose Commercial Real Estate is proud to announce and welcome Branden Mondragon as the firm’s newest Advisor to join the brokerage team. After obtaining a BSBA in Finance from the Hasan School of Business and playing baseball at CSU-Pueblo, Branden began his real estate career working with investors in Colorado. After moving to Arizona, […]

Phoenix Tops US in Net Migration For Third Straight Year

With a population of just over 5 million people, Phoenix is the 10th largest metropolitan area in the country. (Getty Images) By Jessica MorinCoStar Analytics May 6, 2021 | 12:46 P.M.Phoenix has maintained its ranking as the top metropolitan area in the nation for net migration for a third consecutive year, according to the latest […]

Phoenix among top US cities where millennials are moving Millennials are moving to the Valley of the Sun in droves. Phoenix ranks No. 3 among top cities where millennials are moving, according to a new study by SmartAsset. The report is SmartAsset’s fifth annual study analyzing Census Bureau data on migration patterns of people between the ages […]

In a cool year for Valley office market, sales and leases heated up in the fourth quarter

Despite a slow year for office real estate, the biggest investment sale and largest lease since the pandemic began took place in the fourth quarter of 2020. Office investment in the fourth quarter hit $570 million, nearly reaching the total amount of investment sales that took place in the first three quarters combined, which reached […]

JFQ Lending Executes 125,000 SF Corporate HQ relocation Cementing the largest Arizona Office Lease of 2020

 Scottsdale, Arizona (January 14, 2021) – JFQ Lending, a Scottsdale-based Mortgage Company, executed a long-term deal in Q4 2020 for their new 125,000-square-foot Corporate Headquarters located at 7720 N. Dobson Rd., Scottsdale, AZ 85256. Zak Kottler and Joe Cosgrove of LevRose Commercial Real Estate represented JFQ Lending in what was the largest new office lease […]

LevRose Commercial Real Estate Expands Service Offerings to Include Multi-Family Investment Sales

 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 […]

Latest Sam Fox Restaurant Opening Breaks Record, Even Amid Pandemic

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 while […]

Lagoon water park, entertainment venue headed to West Valley

A beach party in Arizona might not be such a wacky idea in a couple of years, because Glendale will soon be home to an 11-acre beach lagoon, planned to include scuba diving, windsurfing and water jet packs as part of a 48-acre entertainment destination. “From day one we felt this would be the type […]

Central Arizona Supply Unveils Plans to Renovate Historic Potato Barn in Gilbert

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 transform […]

Mesa to be home to largest privately-owned multisport facility in the country

Construction is set to begin on a humongous sports facility in the Southeast Valley. Legacy Cares Inc., an Arizona based nonprofit organization, closed last week with boutique investment bank Ziegler on $250.77 million financing to build the family sports and entertainment complex in southeast Mesa. The development, which will be called Legacy Sports Park, covers […]

HonorHealth Opens Sonoran Crossing Medical Center

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 River, […]

Phoenix MOB May Be Redeveloped into Hotel

Developer, The Terrance A Plas Company, recently submitted plans to the City of Phoenix to redevelop an existing medical plaza located at the NWC of McDowell Road and 12th Street, into a new 71.7KSF hotel.  The hotel, to be called The McDowell Hotel according to the project documents, will sit on approximately 1.58 acres adjacent to the Coronado Neighborhood.  “One of the major goals of The McDowell […]

Here’s Why Arizona’s Economy Will Bounce Back Faster than Nation

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, George […]

Amazon Confirms 11 New Metro Phoenix Sites Opening This Year

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: […]

Hotel Breaks Ground at The Pavilions at Talking Stick

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 […]

Amazon Delivery Station Planned in West Valley

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 […]

Construction work underway at Papago Plaza redevelopment in Scottsdale

Construction work has begun at Papago Plaza, a redevelopment project near McDowell and Scottsdale roads in south Scottsdale. Final grading is being done onsite for installation of electrical and water lines. Pivot Development, which is developing the hotel, restaurant and retail space at Papago Plaza, began razing the former shopping center in late 2019. Some iconic […]

Five Below to build $75 million distribution center in Buckeye

Discount retailer Five Below will build a $75 million distribution center in Buckeye, the city announced Tuesday afternoon. The Philadelphia, Pennsylvania-based company plans to begin construction on the 850,000-square-foot distribution center, located at Miller and Durango roads, in 2020, with construction expected to be completed in 2021. The center is expected to create 150 jobs […]

Old Town Scottsdale’s newest hotel expected to open in September

For the first time in more than 10 years, a new-build hotel is set to open in Old Town Scottsdale. The Canopy by Hilton Scottsdale Old Town is expected to open its doors in late September. The seven-story hotel, on the northeast corner of First Street and Marshall Way, will have 177 rooms and suites […]

Amazon buys 92 acres in West Valley

Amazon.com Inc. bought 91.5 acres of land in Goodyear for $19.85 million, according to real estate database Vizzda. According to Vizzda, Seattle-based Amazon bought the land from California-based Rados Properties. Allen Lowe of Lee & Associates represented Rados Properties in the sale, and Jim Wilson of Cushman & Wakefield represented Amazon in the sale, which […]

Some Types of Office Tenants are Returning Faster Than Others

Some industries face constraints in how much of their work can be done from home. An abrupt shift to remote working caused by the pandemic demonstrated that the bulk of office workers can work productively from home (at least during the initial three-month experiment). This has prompted some corporate leaders to postpone the return to […]

Developer aims for mixed-use project after buying north Scottsdale infill site

A Scottsdale commercial real estate developer bought a 1.9-acre infill site in north Scottsdale for $6.65 million and plans to redevelop it into a mixed-use project. A joint venture led by Jim Riggs along with Keith Mishkin and Angelo Giudice bought the property from Scottsdale-based Amiel Properties. Brokers from JLL Capital Markets, led by Brian […]

South Tempe Town Lake developments pick up momentum

Development is ramping up on the south bank of Tempe Town Lake east of Arizona State University, as a mixed-use project called Pier 202 begins early construction work and a nearby build-to-suit office development is marketed to potential office users. The Pier 202 development includes 587 apartment units, 22 retail suites and a restaurant on […]

Axis Raintree Office Project Reaches Milestone in Scottsdale, Arizona

Construction Tops Out at First Major Office Project in Scottsdale Airpark Since 2015 General contractor Willmeng Construction and developer Trammell Crow Co. have topped out vertical construction of the three-story Axis Raintree, the first office project to be built without a signed tenant in Scottsdale, Arizona, since 2015. The contractor said that crews placed the […]