Levrose In The News

Advanced Semiconductor Materials (ASM) received approval from Scottsdale City Council for a development agreement to build its new North American headquarters. The agreement includes a reimbursement of up to $6.35 million for public infrastructure, contingent on ASM meeting specific performance requirements, including creating 500 jobs with an average wage of $110,000 within six years. ASM’s …

Scottsdale Approves Development Agreement for ASM’s New Flagship Facility Read More »

The demand for data storage in Phoenix is rising, driven by cloud services and AI, with developers flocking to the area due to available land, power, and lower costs. In the first half of 2024, 337 megawatts of capacity were absorbed, though this was lower than late 2023 due to limited inventory. Currently, only 20 …

Phoenix No. 2 In Nation For Planned Data Center Growth Read More »

Imagine Learning has opened its new flagship office in Tempe, Arizona, occupying the entire 17th floor of the 100 Mill tower, a 31,000-square-foot space. The company relocated from Scottsdale and now has around 350 Arizona-based employees, with flexible office designs and booking tools for workspace reservations. The move to Tempe was driven by proximity to …

Imagine Learning Opens HQ With Full-Floor Office Lease In Tempe Read More »

Pure Pickleball & Padel is expanding its plans for a signature pickleball and padel venue near Scottsdale, increasing its size from 108,000 to 186,000 square feet. The facility, set to be located on Salt River Pima-Maricopa Indian Community land, will feature 48 pickleball courts, two padel courts, and a 5,000-person championship court. It will include …

Pure Pickleball & Padel Beefs Up Plans For Flagship Location Near Scottsdale Read More »

Edged Energy is developing a 12-acre, 210,000-square-foot data center campus in Mesa, Arizona, expected to be completed by late 2025. The facility, located near Phoenix-Mesa Gateway Airport, will provide 36 megawatts of power to support high-density artificial intelligence and digital data processing, using water-free cooling technology to address local water scarcity. Mesa has emerged as …

Edged Energy Starts Construction on Southeast Mesa Data Center Campus Read More »

Home Depot is moving ahead with plans for new stores in Surprise and Buckeye, two growing cities in western metro Phoenix. In June, it received a building permit for a 109,651-square-foot store with an attached garden center in Surprise, where it bought 18 acres for $8.4 million. This store will be near a Fry’s-anchored shopping …

Home Depot Closer to Opening New West Valley Stores Read More »

Metro Phoenix’s data center capacity grew by 150.8 megawatts (MW) in the first half of 2024, increasing its total inventory to 510.0 MW, a 44% year-over-year rise. This pushed Phoenix ahead of Silicon Valley, making it the fourth largest data center market in North America. With 334.3 MW under construction, Phoenix’s growth shows no signs …

Phoenix Moves Ahead of Silicon Valley in Data Center Supply Read More »

Covenant Capital Group acquired the 472-unit Pearl Biltmore apartment complex in Phoenix for $152 million, making it one of the region’s largest multifamily property sales of the past year. The purchase price averages about $322,000 per unit, significantly above the area’s average of $267,000 per unit. The property, located in the upscale Biltmore neighborhood, is …

Phoenix Apartment Deal Among Region’s Largest of Past Year Amid Recovering Demand Read More »

Magna International is partnering with Waymo, a subsidiary of Alphabet Inc., at its new manufacturing facility in Mesa, Arizona. The facility will integrate Waymo’s fully autonomous driving technology into electric Jaguar SUVs as part of Waymo’s expansion. Magna is developing a 230,000-square-foot space in Mesa’s Power Industrial Park for this purpose. Waymo has been expanding …

Magna’s Massive Mesa Factory to Assemble Waymo Vehicles Read More »

Developers are eyeing vacant sites around Glendale’s sports and entertainment district and the Loop 101 for new projects. A mixed-use development has been proposed by SimonMed’s CEO, John Simon, for 20 acres south of St. Joseph’s Westgate Medical Center, including 239 multifamily units and 13,000 square feet of commercial space. The Glendale planning commission has …

West Valley Mixed-Use Project Proposed Along Loop 101 Read More »

The Phoenix apartment market is experiencing a construction boom, particularly in downtown Phoenix, driven by growth in higher education, the bioscience industry, and a vibrant live/work/play environment that attracts young professionals and students. Developers have responded to this demand by adding thousands of luxury rental units, doubling the existing inventory in the area. However, this …

Multifamily Developers Transform Downtown Phoenix Skyline Read More »

Several major retailers, including Nordstrom Rack, Old Navy, and DSW, are set to open new stores at the Prasada North shopping complex in Surprise, Arizona, part of the West Valley’s growing retail landscape. Nordstrom Rack’s 26,000-square-foot store will be the first of its kind in the far West Valley, further enhancing the area’s retail offerings. …

Nordstrom Rack, Sierra Trading Post and More Inked for New West Valley Shopping Complex Read More »

The Phoenix region is experiencing significant business expansions and economic development, highlighted by Taiwan Semiconductor Manufacturing Co.’s increased investment from $40 billion to $65 billion, the largest in Arizona’s history. Other notable developments include Amkor Technology’s $2 billion semiconductor plant and LG Energy’s first battery manufacturing facility in the Valley. The Greater Phoenix Economic Council …

GPEC Helps Dozens of Businesses Set Up Shop in Arizona in Past Year Read More »

Green Bay Packaging Inc., a Wisconsin-based corrugated packaging manufacturer, plans to develop a new facility on 80 acres in Casa Grande, Arizona. The site, acquired for $16.5 million, is located near the Kohler Co. manufacturing plant and other significant industrial developments. The company, which operates a sales and distribution center in Tempe, sees Casa Grande’s …

Packaging Manufacturer Confirms Plans to Build Industrial Facility in Arizona Read More »

The East Valley has become a hub for advanced manufacturing, driven by the completion of Loop 202 and State Road 24, which have attracted clusters of big-name companies, particularly along the Price Road corridor and near Phoenix-Mesa Gateway Airport. A skilled workforce supports this growth, and further investment in new transportation corridors is expected to …

East Valley Cities, Developers See Strong Interest from Advanced Manufacturers Read More »

Phoenix leads the nation in industrial construction with nearly 40 million square feet underway by the end of June, driven by large projects like Lucid Group’s EV factory expansion and Ross Stores’ distribution center. Manufacturing projects and previously delayed developments are key contributors to this high supply. Phoenix has five of the top 20 largest …

Phoenix Still Tops the Nation in Industrial Construction Read More »

The City of Tempe is seeking a developer to redevelop a prime parcel of land in downtown Tempe into a high-rise, mixed-use project at the site of the former Tempe Performing Arts Center. Located in the historic Mill Avenue district and near Arizona State University, the property is well-connected to public transit and popular destinations …

City of Tempe Seeks Developer for Mixed-Use Project in Mill Avenue District Read More »

The Prasada shopping complex in Surprise, Arizona, faced challenges during its development due to the COVID-19 pandemic, which initially delayed retailer interest. However, as Arizona reopened, demand surged, leading to the successful leasing of the entire 700,000-square-foot Village at Prasada. The complex, now a $600 million investment, has become a major retail hub, with over …

Prasada Shopping Complex in Surprise a Hit with Retailers, More Growth Expected Read More »

Developers have topped out Sol Modern, a 29-story residential tower in downtown Phoenix, expected to be completed by spring 2025. The project will include 747 residential units, 30,000 square feet of retail space, and multiple amenity decks. Harvard Investments has begun construction on FirstStreet Skyline, a build-to-rent community in Buckeye, featuring 222 units and various …

Downtown Phoenix Tower Hits Milestone; Plus 6 More Valley Deals to Know Read More »

A proposed mixed-use project could bring significant development to the northeast corner of Power and Elliot roads in Mesa. The project, on nearly 20 acres owned by the Saia family, aims to rezone 7.8 acres for luxury multi-residence housing and develop the remaining land into a shopping center. The center will feature two major tenants, …

Mixed-Use Center Proposed in Burgeoning Mesa Corridor Read More »

Construction has begun on Northside at SanTan Village, a development spanning 20 acres between Williams Field and Ray roads in Gilbert. The project, led by Okland Capital and San Tan Development Group, will include new restaurants, retail spaces, and a 134-key Marriott Springhill Suites. The first phase features six buildings totaling 37,245 square feet of …

Developers Break Ground on First Phase of Prime Gilbert Retail Project Read More »

The Greater Phoenix industrial market delivered 10 million square feet of new space in the second quarter, part of the record construction initiated in 2023. Strong net absorption of 5.3 million square feet helped keep the vacancy rate at 9.0 percent. So far in 2024, the market has added 19.7 million square feet, with 12.1 …

Phoenix Industrial Market Adds 10 Million Square Feet in Q2 Read More »

Arizona’s aerospace industry is a vital sector, with the state ranking among the top two for aviation maintenance economic activity. Pinal County, in particular, has seen significant aviation-related development from companies like Win Aviation and Ascent Aviation Services. Factors contributing to the industry’s growth include Arizona’s low humidity, business-friendly environment, and tax incentives. Win Aviation …

Pinal County Sees Surge in Aviation-Related Development Read More »

Phoenix-based Arizona Land Consulting plans a 72-acre mixed-use project in Buckeye, part of the Copper Falls master plan. The development will include up to 900 multifamily units and 16 acres for commercial and retail uses, following a city-approved general plan amendment. Located at Miller and Broadway roads, the project will unfold in phases over the …

Arizona Land Consulting Unveils Fresh Buckeye Plans for Mixed-Use Project Read More »

Development of industrial space in metro Phoenix is slowing down as the vacancy rate increased to over 10% in the second quarter, with 9 million square feet delivered. As a result, construction has decreased, although about 25 million square feet were underway in Q2. Despite the rise in vacancies, leasing activity remains healthy with 3.3 …

Build-to-Suit Projects Lead Phoenix Industrial Growth Amid Development Slowdown Read More »

The Metro Phoenix retail sector has rebounded significantly since the pandemic, with more than 1 million square feet of new space added in the last year and 2.7 million square feet under construction. The Q1 2024 vacancy rate rose slightly to 5.2% due to new construction, but remains historically low. Despite the first negative net …

Retail Remains Red-Hot in the Post-Pandemic Recovery Read More »

Data centers are expanding rapidly across the U.S. due to the increasing digital interconnectedness of the world and the rise of AI, leading to a significant rise in data demands. This growth is met with both enthusiasm for its economic benefits and concern over environmental and infrastructure impacts. Large data centers consume substantial power and …

Data-Center Debate: Booming CRE Sector Grapples with Big Question Read More »

Several new hotels are planned for the West Valley. In Tolleson, a LivAway Suites extended stay hotel will be built near I-10 and 91st Avenue, featuring 126 rooms across four stories. Goodyear will see a new Home2 Suites by Hilton with 112 rooms near McDowell and Litchfield roads. Peoria has plans for two new hotels: …

Nearly 500 Hotel Rooms Proposed Across Multiple West Valley Projects Read More »

A high-profile development team, including reality TV star Tareq El Moussa, is planning a $32 million RV, boat, and self-storage facility under the Storelocal Storage brand in metro Phoenix. The 185,889-square-foot facility, located at the northwest corner of Loop 303 and Cactus Road in Surprise, is a joint venture between Goldwater Pinckard LLC and Cedar …

West Valley RV, Boat and Self-Storage Project Planned by High-Profile Team Read More »

Mack Real Estate Group has begun construction on the first phase of a 124-acre industrial park in Scottsdale, named Mack Innovation Park. This development will feature 1.2 million square feet of industrial and flex office space across 11 buildings near Pima and Bell roads. The initial phase, funded with $63 million in financing, includes two …

Massive Scottsdale Industrial Park Underway Read More »