Levrose In The News

Residential Investor Ready for More After $72 Million Return to Phoenix; Plus 4 More Valley Deals

Sherman Residential has reentered the Phoenix market after 20 years with the $72.05 million purchase of Axis Camelback, a 237-unit Class A multifamily property. Since acquiring the complex, the company has completed exterior renovations and plans to invest $1 million over five years in upgrades, including enhancements to the clubhouse, lounge, and sky deck. Rents …

Residential Investor Ready for More After $72 Million Return to Phoenix; Plus 4 More Valley Deals Read More »

The Esplanade’s $45 Million Renovation Unveiled in Camelback Corridor

The Esplanade office campus in Phoenix has undergone a $45 million renovation, adding 30,000 square feet of amenities, including a conference center, fitness facility, and upscale dining options. The project, led by Monarch Alternative Capital and Tourmaline Capital Partners, also introduced a two-story amenity building featuring a lounge, private health and wellness hub, and a …

The Esplanade’s $45 Million Renovation Unveiled in Camelback Corridor Read More »

Mixed-Use Medical Office Project Proposed in Deer Valley Submarket

Scottsdale-based Cypress Development Partners is planning The Interchange, a mixed-use campus in north Phoenix to meet the demand for medical office space. The 233,500-square-foot development will be built in two phases on 23 acres and include medical office, flexible office, retail, and a hotel. The first phase will feature two medical office buildings, two retail …

Mixed-Use Medical Office Project Proposed in Deer Valley Submarket Read More »

Nextwave Tempe Breaks Ground on Former Big Surf Site

Overton Moore Properties (OMP) and Invesco Real Estate have begun construction on Nextwave Tempe, a 689,000-square-foot Class A industrial development on 35.5 acres at the former Big Surf Waterpark site in northeast Tempe. The project, consisting of three state-of-the-art buildings, is strategically located near the Loop 101 and Loop 202 freeways, four miles from Phoenix …

Nextwave Tempe Breaks Ground on Former Big Surf Site Read More »

CapRock Breaks Ground on Phase 2 of West 202 Logistics

CapRock Partners has broken ground on Phase 2 of CapRock West 202 Logistics, a 825,000-square-foot speculative industrial development in Southwest Phoenix. Scheduled for completion in November 2025, Phase 2 will feature three state-of-the-art Class A warehouses with modern amenities, strategically located for efficient access to transportation corridors and the Phoenix metropolitan area. The development reflects …

CapRock Breaks Ground on Phase 2 of West 202 Logistics Read More »

2025 Projects to Watch

Several major developments are transforming the Phoenix metropolitan area. One of the largest is the $7 billion Halo Vista project in north Phoenix, which spans 2,300 acres and is designed to create a “city within a city” around the Taiwan Semiconductor Manufacturing Co. (TSMC) campus. This development will feature districts dedicated to manufacturing, technology, research, …

2025 Projects to Watch Read More »

First Retail Tenants Announced for Asante in Surprise

Scottsdale-based SimonCRE is set to begin construction on the first phase of the Asante Trails retail development in Surprise, investing $50 million for 50,000 square feet of shops. Part of a larger 90-acre mixed-use project, the development will anchor the Asante master-planned community, featuring a new HonorHealth hospital, residential areas, and additional retail space. Confirmed …

First Retail Tenants Announced for Asante in Surprise Read More »

NexMetro Secures $300M for Build-to-Rent Portfolio; Plus 9 More Valley Deals to Know

NexMetro Communities secured $300 million in financing for its build-to-rent portfolio in Phoenix and Denver, with plans for $1 billion in projects across Arizona and other markets. Key developments include a $70.25 million build-to-rent project in Phoenix and the completion of Centris Industrial at Mesa, featuring over 400,000 square feet of industrial space. A $27 …

NexMetro Secures $300M for Build-to-Rent Portfolio; Plus 9 More Valley Deals to Know Read More »

Mega Projects Will Dominate 2025

Scottsdale’s landscape is poised for significant transformation in 2025, with numerous major construction projects underway or planned. Optima McDowell Mountain Village, a 1,300-unit apartment complex with eco-friendly features, is set to open its first units by fall. One Scottsdale continues to expand its mixed-use development, with residential and commercial additions, including the City of Hope …

Mega Projects Will Dominate 2025 Read More »

Third-Party Logistics Firm Signs Big Lease in Loop 303 Corridor

South Carolina-based Logisticus Group LLC has leased 483,300 square feet at the Park303 industrial project in Glendale, Arizona, marking one of the largest industrial deals of 2024. The deal was finalized in just two days after the firm’s initial target warehouse became unavailable, showcasing quick negotiations with the building’s owner, Lincoln Property Co. Logisticus will …

Third-Party Logistics Firm Signs Big Lease in Loop 303 Corridor Read More »

New Details Emerge on Redevelopment of Former Phoenix Financial Center

New York-based developer Left Lane plans to transform the iconic Phoenix Financial Center, also known as the Punchcard Building, into Recess Phoenix, a mixed-use urban resort. The redevelopment will feature 209 hotel rooms, 143 multifamily units, and amenities such as a pool, spa, fitness center, and a 7,400-square-foot wellness hub. The 7-acre site will also …

New Details Emerge on Redevelopment of Former Phoenix Financial Center Read More »

Surf Park’s Replacement Underway; More Valley Deals

The former Big Surf Wave Park in Tempe is being transformed into Nextwave Tempe, a three-building industrial development spanning 689,000 square feet. The project, led by Overton More Properties and Invesco Real Estate, is set for completion by the end of 2025. Located at 1500 N. McClintock Drive, it offers strategic access to Loops 101 …

Surf Park’s Replacement Underway; More Valley Deals Read More »

Portion of Prasada Shopping Center Trades Hands

A 7-acre portion of the Prasada North shopping center in Surprise has sold for $32 million in an off-market deal. The site includes 34,000 square feet of retail space with tenants like Shake Shack, Starbucks, and Portillo’s Hot Dogs. The sale allows the current developer to “crystallize value” and “de-risk” the asset while ensuring long-term …

Portion of Prasada Shopping Center Trades Hands Read More »

Six-Acre Scottsdale Site Set for Redevelopment

George Oliver Cos., a Phoenix-based developer, has acquired a 165,220-square-foot building at 7272 E. Indian School Road in Old Town Scottsdale for $42.25 million as part of a $76 million joint venture with Denver-based Ascentris. The acquisition adds to their portfolio of six contiguous acres, including properties at 4141 and 4167 N. Scottsdale Road. George …

Six-Acre Scottsdale Site Set for Redevelopment Read More »

Specialty Grocery Store Planned for Goodyear’s New Downtown

Red Development is advancing the next phase of Goodyear’s downtown core, GSQ, with plans for a specialty grocery store and two restaurants at Bullard Avenue and McDowell Road. Trader Joe’s, a long-requested retailer, is mentioned in construction documents as a potential tenant, though no official confirmation has been made. GSQ is set to feature 200,000 …

Specialty Grocery Store Planned for Goodyear’s New Downtown Read More »

Development Agreement for $7 Billion Project Clears First Hurdle

The city of Phoenix has proposed a 25-year development agreement for the $7 billion Halo Vista project near the Taiwan Semiconductor Manufacturing Co. (TSMC) complex. Developed by Mack Real Estate Group and McCourt Partners, the 2,300-acre project will include infrastructure, an auto mall, retail, office, and industrial spaces, with construction on the first phase beginning …

Development Agreement for $7 Billion Project Clears First Hurdle Read More »

Mesa City Council Gives Go-Ahead to Fiesta Mall Redevelopment

Mesa’s Fiesta Mall is set to be redeveloped into a mixed-use development, dubbed Fiesta Redefined, after receiving Mesa City Council approval. The 80-acre site will feature up to 4,000 housing units, 1.85 million square feet of retail and commercial space, and over 500,000 square feet of open, pedestrian-friendly spaces. Verde Investments, led by Carvana’s largest …

Mesa City Council Gives Go-Ahead to Fiesta Mall Redevelopment Read More »

Construction Starts on First Tempo by Hilton Hotel in Phoenix

Construction has begun on the first Tempo by Hilton hotel in the Phoenix metro area, located in Mesa at Power Road and Loop 202. The dual-branded Tempo by Hilton and Homewood Suites by Hilton at Gallery Park will feature 174 rooms, with Tempo offering 97 upscale lifestyle rooms and Homewood Suites providing 77 extended-stay suites. …

Construction Starts on First Tempo by Hilton Hotel in Phoenix Read More »

Scottsdale Firm Proposes 270-Acre Business Park in Goodyear

Undeveloped parcels in Goodyear’s West Valley are being acquired for industrial development, including a 270-acre site planned as I-10 Citrus Gateway. The site, located near Interstate 10, is undergoing rezoning and general plan amendment processes, with city votes scheduled for December. Nearby developments include Innovation Centre, a proposed 224-acre master-planned business park featuring industrial, office, …

Scottsdale Firm Proposes 270-Acre Business Park in Goodyear Read More »

Nebraska Restaurant Company Inks Leases For Gilbert Eateries

Flagship Restaurant Group, known for concepts like Blue Sushi Sake Grill and Châm Pang Lanes, is expanding in the Phoenix area with plans to open three restaurants in downtown Gilbert. The restaurants will occupy 14,000 square feet in the upcoming Heritage Park development, a $300 million mixed-use project featuring retail, restaurants, apartments, and a public …

Nebraska Restaurant Company Inks Leases For Gilbert Eateries Read More »

Here’s Where Ryan Cos. Is Set To Develop 2 Million Square Feet

Industrial developers have increasingly targeted Phoenix’s Loop 303 and Phoenix-Mesa Gateway Airport areas, but oversupply on the outskirts has led some firms to focus on central submarkets with lower vacancy rates. Current projects in the Phoenix metro’s central corridor total 2 million square feet, where vacancies fall below 5%. These include Innovate48, a warehouse replacing …

Here’s Where Ryan Cos. Is Set To Develop 2 Million Square Feet Read More »

Developer Plans Apartments at Exploding Buckeye Commercial Hub; Plus 6 More Valley Deals to Know

Highstreet Ventures Inc., a Canada-based developer, acquired an 18-acre site in Buckeye, Arizona, for $9.3 million to build a 510-unit apartment complex featuring studios, one-bedroom, and two-bedroom units with a clubhouse and pool. The site is within Buckeye’s Verrado area and part of a 2,100-acre hub called The Landing, which the city plans to develop …

Developer Plans Apartments at Exploding Buckeye Commercial Hub; Plus 6 More Valley Deals to Know Read More »

The Goldwater Condo and Retail Project Coming to Old Town Scottsdale

The Goldwater Residences is a luxury condo development in Old Town Scottsdale, offering 40 upscale two- to three-bedroom units with large patios and stunning views of Camelback Mountain, Four Peaks, and the Papago Buttes. Located at Goldwater Boulevard and 70th Street, the project includes 7,500 square feet of ground-floor commercial space designed to enhance connectivity …

The Goldwater Condo and Retail Project Coming to Old Town Scottsdale Read More »

First Phase of $7 billion Halo Vista to Feature Auto Mall, Retail and Industrial

The $7 billion Halo Vista development in Phoenix has gained global attention, with inquiries coming as far as France. Scheduled to break ground in 2025, the 2,300-acre project will feature an auto mall, retail, office, and industrial spaces in its first phase, eventually expanding to nearly 30 million square feet and creating 70,000 jobs. Key …

First Phase of $7 billion Halo Vista to Feature Auto Mall, Retail and Industrial Read More »

Phoenix Has One Of The Highest Office Job Growth Rates Year-Over-Year

Phoenix has seen a significant 1.3% year-on-year surge in office jobs from September 2023 to 2024 alongside other Sun Belt regions, ranking fourth in the national increase, topped by Houston, Dallas, and Miami. While growth in large Sun Belt markets was uneven, Phoenix saw an upswing, particularly in professional and business services sectors. The information …

Phoenix Has One Of The Highest Office Job Growth Rates Year-Over-Year Read More »

Sun State Builders Breaks Ground on Crossroads at Surprise

Sun State Builders (SSB) has begun construction on Crossroads at Surprise, a 114,495-square-foot industrial facility for The Widewaters Group Inc., located on a 7.3-acre site at 134th Avenue and Bell Road in Surprise. The $11 million project is set to be completed by September 2025. Designed by Ware Malcomb, the facility will feature a 130-foot …

Sun State Builders Breaks Ground on Crossroads at Surprise Read More »

$13 Million Restaurant, Bar Proposed in West Valley Entertainment District

Tavern Park, a $13 million dining and entertainment venue, is set to open next summer in Peoria’s P83 entertainment district. Spanning 13,000 square feet, it will feature a sports bar, rooftop lounge, nightclub, and an indoor park, with capacity for about 550 guests. Created by the team behind Phoenix’s Lookout Tavern, the venue will be …

$13 Million Restaurant, Bar Proposed in West Valley Entertainment District Read More »

Phoenix Office Vacancy Rate Improves in Q3, Report Says

Phoenix ranked No. 9 among the top 10 large U.S. office markets, with a slight decrease in vacancy from 18.3% to 18% from Q2 to Q3. This positive shift, shared only by Los Angeles and Chicago, reflects increasing demand as companies encourage workers to return to office spaces. The Phoenix office market has shown strong …

Phoenix Office Vacancy Rate Improves in Q3, Report Says Read More »

Developer Breaks Ground on Three Valley Self-Storage Projects

Abernathey Holdings, based in Mesa, Arizona, has expanded its self-storage presence in the Phoenix metro area with three new projects following the success of its first facility in Gilbert in 2022. In partnership with billionaire Gary Tharaldson, these new Public Storage-branded developments include a 122,757-square-foot facility in Laveen, an 111,087-square-foot facility in Goodyear, and a …

Developer Breaks Ground on Three Valley Self-Storage Projects Read More »

Buck & Rider Parent Company to Launch New Eatery Brand in Scottsdale

Hi Noon Hospitality, known for Buck & Rider and Ingo’s Tasty Food, has leased a location in Old Town Scottsdale for a new seafood-focused restaurant, set to open in fall 2025. The restaurant, located near Scottsdale Civic Center park, will feature a coastal southern European seafood concept with an inviting atmosphere and scenic park views. …

Buck & Rider Parent Company to Launch New Eatery Brand in Scottsdale Read More »

Referrals

Let’s work together! Partnering with LevRose is easy. Simply fill out this form, including as much information as you can provide about your client and their needs.

Careers

Fill out this form to learn more about opportunities to join our team.