Old Town Remains King

All eyes remain on Old Town as a prime employment and redevelopment area in Scottsdale, even as other parts of the city, including the Scottsdale Airpark and the McDowell Road Corridor, emerge as heavy-hitters for attracting new development. Stockdale Capital Partners, led by Managing Principal Shawn Yari, has spent years buying up property in Old Town, […]

Single-tenant retail draws increased investor interest in Phoenix

Despite a drop in overall commercial real estate investment volume in the Valley from the first quarter of 2020 to the first quarter of 2021, investment in net-leased assets increased 2.6% in the time period. Net-lease properties are generally leased to one tenant, with the tenant paying taxes, insurance and maintenance on the property, which […]

Here’s why Scottsdale and Tempe are experiencing a development boom

  While the COVID-19 pandemic may have curbed progress for a lot of businesses in the East Valley, construction showed no signs of slowing down. Massive multifamily housing communities, expansive business campuses, eye-catching mixed-use towers and luxury hotels are transforming the region’s skyline, and nowhere is that more evident than in Phoenix’s suburban neighborhoods of […]

Greater Expectations: New Economic Opportunity in Arizona – Appraising our prospects as we emerge from the pandemic

  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 […]

2.7 million-square-foot office and industrial park proposed near Phoenix Goodyear Airport

A massive office and warehouse park, called Airpark Logistic Center, planned near the Phoenix Goodyear Airport could begin rising this fall. The project will include five buildings along Yuma Road and Bullard Avenue in Goodyear totaling 2.7 million square feet on 170 acres, according to plans submitted to the city of Goodyear. The buildings, which […]

Economic development officials hope Suns’ success helps lure more companies to Phoenix

The success and likability of Chris Paul, Devin Booker and the rest of the Phoenix Suns could help lure companies to open offices in the region — if not move their entire headquarters to Phoenix. Well, that is what economic development officials are hoping as millions of people tune in to watch the Suns play in the NBA […]

Construction begins on Phoenix redevelopment that includes Sam Fox hotel

Construction is underway on the Grove, a 15-acre development that includes Sam Fox’s first hotel, Global Ambassador, along with the Phoenix Suns and Phoenix Mercury practice facility and will yield another 180,000 square feet of Class AA office space. Demolition on the site, located at 44th Street and Camelback, has been completed, along with initial site work. […]

Investor buys 12 acres in Goodyear that could hold future commercial development

An Arizona investor, who also recently opened the first dermatology practice in Buckeye, bought 12 acres of land in Goodyear that could be a good site for commercial development. “What’s attractive about this site is that the land around it is in escrow with homebuilders,” Anita Verma-Lallian, principal of Arizona Land Consulting, who worked with the buyer, […]

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 […]

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 […]

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 […]