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 increased an average of 12%. Population growth is the primary driver behind the activity.
“As the saying goes, retail follows rooftops. In regards to population, Maricopa County has been the fastest growing county in the nation for the past three years running. Additionally, the Phoenix MSA, which includes both Maricopa and Pinal counties, is expected to break into the top 10 largest metros of the US with the coming 2020 Census,” Thomas M. Brophy, research director of Arizona at Colliers International, tells GlobeSt.com. “Additionally, Greater Phoenix has consistently been in the top five US metros for job growth over the last several years and has been one of the leading metros in the nation for wage growth, particularly small business wage growth, all of which are very attractive to retail businesses.”
Mixed-use development has helped to drive the retail activity as well as the increases in rents. Most of these projects have restaurant and entertainment tenants. “A couple of the more recognizable projects of this restaurant-based retail real estate revival was started in 2013 with Sam Fox’s The Yard project off 7th Street to the repositioning of Uptown Plaza at Camelback & Central which brought in iconic brands such as Shake Shake and Lou Malnatti’s to the mixed-use revival of Park Central Mall in Midtown with the addition of Creighton University Medical School,” says Brophy.
Traditional retail in Phoenix is also adapting to the changes in the market, helping to drive the strength of the retail market. “Whereas people decry the death of the big-box power centers which were developed, in part, to offset the high CAM (common area maintenance) costs associated with indoor malls, both of which are now, themselves, facing their own adapt or become extinct moments,” says Brophy. “As such you are beginning to see both old/new investors, with different ideas, coming into the retail space to see how to change with the times; whether that’s including co-working space if you’re Scottsdale Fashion Square to Fiesta Mall’s current attempt at redevelopment/transformation into a residential/job epicenter to the big box store-to-gym facility are all concepts which are playing out across the Valley.”
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 before a downturn hit, but this time, things may be different.
“One of my real estate investor buddies once said to me, ‘Phoenix, where California money goes to die at the end of every real estate cycle.’ There is no doubt that historically Phoenix has been a boom and bust market,” Alex Zikakis, president and founder of Capstone Advisors, tells GlobeSt.com. “Many late stage investors got hurt in Phoenix during the last downturn. However, with the historically low cap rates in the far western U.S. markets, capital has now moved back to Phoenix in search of yield.”
The high and sustained competition has come with a price—or at least a higher price. ”The activity has made the buying opportunities more competitive and cap rates have dropped substantially over the last 4 to 5 years,” says Zikakis. “I believe we have done a very good job of acquiring high-quality assets in strong locations at attractive pricing in this market.”
Capstone doesn’t expect the momentum to slow down in the Phoenix market. It has been actively growing its investment portfolio and plans to remain an active buyer in the market through the next year. “We will continue to be an active buyer in the Phoenix market. As we build our footprint, we will focus on acquiring more value-added opportunities where we can drive value through property repositioning and re-leasing,” says Zikakis.
While it is an active buyer, it doesn’t have specific goals other than to gain marketshare. “We want to make sure we have enough assets in the market to drive synergy with our leasing and property operations teams and to provide flexibility to our tenants with good quality assets in a variety of locations,” says Zikakis. “We are focused on having strong relationships with the brokerage community so we can be at the top of the call list for new opportunities.”
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.
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 in building sales, and both landlord and tenant representation for office properties in the greater Phoenix area.
With more than 14 years in the industry, Goldfarb spent the majority of his career at CBRE focusing in landlord leasing services. Prior to CBRE, he began his career as a retail broker in 2004 at DeRito Partners, Inc. Now at LevRose, Goldfarb will continue his focus on office properties throughout the Valley.
“I really want to further my relationships and business throughout the Valley,” Goldfarb said. “LevRose has the resources, relationships and reputation to help me attain my goals as a leading commercial real estate professional. I’m thrilled to have the opportunity to work with such an established and respected firm.”
Originally from Illinois, Goldfarb moved to the Valley of the Sun after earning his degree in business and communications at the University of Arizona.
“Bringing Nate onto our team unlocks many more possibilities for us and our clients,” said Jon Rosenberg, designated broker managing partner and co-founder of LevRose. “His knowledge and experience will help us continue to grow while also providing new and innovative services for our clients.”
Goldfarb is a current member and former board member of NAIOP and has been a licensed broker for eight years.
“We’re excited to have Nate on our team and am already seeing him show his leadership as he is taking some of our younger brokers under his wing,” said Mike Baumgardner, sales director and team coach at LevRose.
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, up to half the U.S. workforce could be freelancers in some capacity. Yes, this still acknowledges many working from home, neighborhood coffee shops, etc. As of 2019, there are around 6,300 flexible workspaces in the U.S., a number that’s estimated to reach more than 13,000 by 2022. It’s no wonder co-working spaces seem to be popping up everywhere. While most real estate agents and industry professionals have been aware of the trend for a while, rapid growth means it’s important to be prepared for increased market disruption.
As the job market continues to shift toward younger generations, small businesses, individual entrepreneurship and gig work, many are seeking a different sort of work experience. Of course, everyone wants all the cool amenities and benefits of a large office space, but without the massive overhead. When faced with a choice between a traditional five-year office lease and a shared space, more tenants are considering the flexibility of setting up shop in shared or co-working spaces where the cost per square foot will typically be substantially higher. The benefits many see include the ability to scale up or down without the worry of incurring the costly penalties associated with breaking a long-term lease. Of course, the flip side is that short-term leases may create unsustainable rent increases that can end up being cost prohibitive for many firms and creating multiple relocations. Regardless, landlords with more traditional office properties should expect to be more flexible during negotiations. In order to stay competitive, the normal five-year leasing options may need to be compressed in some cases.
Real estate insiders recognize this trend is here to stay and may only grow stronger. While this is not a new concept, many of those once skeptical or nervous about co-working spaces are now openly embracing it. Larger, established players such as Regus and WeWork are being challenged by individual, locally grown brands and niche spaces geared toward specific industries in many markets. Many real estate companies are breaking free of tradition and partnering with existing co-working brands or building their own. Overall, flexible space will continue to be innovative and collaborative, thus continuing to be another option for tenants and landlords alike.
Keri Davies is vice president of Scottsdale-based LevRose Commercial Real Estate and a licensed real estate agent in Arizona, with 25 years of strategic sales and marketing experience. Davies has worked with more than 400 business leaders and corporate clientele in rightsizing and expanding their commercial office and retail portfolio both domestically and internationally.
H. Ross Ford, President and CEO of TCN Worldwide, has announced the appointment of Jon Rosenberg, Designated Broker, Managing Partner and Co-Founder of Levrose Real Estate/TCN Worldwide in Scottsdale, to the TCN Worldwide Board of Directors. Mr. Rosenberg will be taking over for David Wallach of Barclay Street Real Estate/TCN Worldwide in Calgary, who was appointed to the board in 2015, and will finish out the remainder of Wallach’s term through 2021.
“We are very pleased to announce Jon Rosenberg has accepted a seat on the TCN Board of Directors,” stated H. Ross Ford. “Jon is a recognized leader in the commercial real estate industry and Levrose Real Estate has been a member of TCN Worldwide since 2013. Jon has served as a regional vice president for the west region since 2016 and while we will miss him in that role we are excited to welcome him to our Board of Directors and look forward to his continued contribution to our organization.”
Mr. Ford added, “David Wallach has been an outstanding board member and he will be missed in that capacity. With an innovative leadership style and a strong entrepreneurial spirit, Mr. Wallach has contributed to TCN’s ongoing expansion and success as an organization with infectious enthusiasm since first joining the organization in 2011. He has acted in an advisory role to the Board, served as a regional vice president, and was then elected to the Board of Directors in 2015 where he has served since. We will miss his contributions as a board member but look forward to his ongoing participation in the organization as a longstanding TCN member.”
Jonathan Rosenberg is the Co-Founder and Managing Partner for LevRose Commercial Real Estate/TCN Worldwide, which serves the greater Phoenix metro area. His almost 30 years of experience includes asset management, receiverships, commercial leasing and sales, consulting and training. In 1992, he co-founded LevRose to handle commercial brokerage and property management in the Greater Phoenix market. Under his leadership, LevRose has been consistently named one of the Business Journal’s “Top 25 Commercial Brokerage Firms” as well as one of the “Top 10 Small Commercial Brokerage Firms” by Ranking Arizona Magazine.
Surprise, Ariz. – LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage closed the sale of a multi-tenant retail center in Surprise, Arizona for $2.6 million.
Located at 12100 N. Dysart Road, the sale was facilitated by Mark Cassell and Trenton McCullough of LevRose Commercial Real Estate. The property was sold to the Houston based buyer KM SKYWAY COMMONS, LLC. Cassell and McCullough represented the Denver based group, Surprise Retail, LLC c/o Northstar Commercial Partners in the transaction.
“We were extremely excited and honored to work with both groups on this transaction,” said Cassell. “Timing was perfect for both parties which allowed for a successful deal. Skyway has a great story and the Surprise market has a lot of growth to make it a key player in the Metro Phoenix Market. Skyway Commons will prove to be a fantastic investment due to the ‘service-based’ nature of strip. Investors are increasingly looking for shopping centers with a tenant roster like this that allows for upside through additional lease up.”
With an expertise in office and retail, tenant/landlord representation and sales transactions, LevRose Commercial Real Estate has been serving the Valley since 1992. Locally owned LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally.
Name: Mike Baumgardner
Where I live: Arcadia Arizona, but I work in Old Town Scottsdale at LevRose Commercial Real Estate
When and why I moved here: I moved in July of 2005 Because I fell in love with the area being from Michigan, I needed grass and larger lots. It felt like a more local feel with families that grew up in Arizona.
What I like most about living here: I think as you get older, life gets busy, and you really come to appreciate how simple things are in Phoenix by how easy it is to get around. Traveling around the city to visit people and just doing your day to day life becomes easier. Of course, I can’t NOT mention how the great weather (remember I’m from Michigan) allows us to do so many things outside 12 months out of the year.
Activities we enjoy: I love doing all activities with my family from hiking to playing soccer in the yard, coaching them in both soccer and softball.
Clubs/organizations I’m involved in: I’m involved in the Real Estate Investment Advisory Council (REIAC), Acadia Little League Board and Entrepreneurs Organization
My favorite charity or volunteer activity and why it deserves support from others? There so many good organizations out there. The one that hits home with me and my family is Children’s Cancer Network (CCN). They were there when we needed a little extra support when our daughter was battling cancer. We got to know the founders of the organization and it is such a great charity to watch grow. They help so many people in need of assistance in a dark time of their lives. Both my daughters look forward to CCN events.
My No. 1 suggestion to new residents looking for ways to get involved in their community: I think it’s kind of how I was always raised and that is to ask people in the community that has these positions. See where they need help. I think you’ll find that there’s always a need for more volunteers or more people to sit on boards or committees.
What one thing would you like to see changed in Scottsdale? There isn’t a lot I would like to change in Scottsdale, however, being that I work in Old Town in the entertainment district, I think I would like to see that area made to be more walkable and have more of a community feel. The amount of traffic with pedestrians and having cars drive down those roads seems to be an incredibly dangerous proposition and scary to those that are out and about.
My family: I have been married to my beautiful wife Gretchen for over 12 years who is a Phoenix native and comes from a wonderful family. We have two beautiful daughters Olivia who’s 11 and Ella who is 9. Ella is going to be in the fourth-grade next year at Hopi and Olivia is going to be in 6 grade at Ingleside. We are raising very strong, smart and independent young ladies. They are learning to Figure out real-life scenarios and manage time with all the activities that are in our lives.
What I do: I manage a commercial real estate brokerage called LevRose Commercial Real Estate in Old Town Scottsdale. It has been around for 27 years. I am there to help grow the organization and continue the legacy that we’ve created by our owners. My job is to mentor and support all of our agents in their professional and personal growth
People who are an inspiration to me: Growing up, it was always my Grampa. He commanded respect from everyone without having to ask for it. He always had great stories and a fun personality that you wanted to be around. As I got more into my career I always looked to clients to ask questions too and now I am working for a client of 13 years and a Mentor/Owner of LevRose Jon Rosenberg.
My advice to today’s youth: My advice to youth today is to stay involved in as many things you can do socially and academically. Find a fun server job in college that will teach you real-life skills and about people. Ask lots of questions to people around you and ask some of these people if you could lean on them for career or personal advice. People really do want to help and mentor, they just don’t get asked much!
Scottsdale-based CRE Firm Hires Austin Knebel to Manage Property Deals Throughout the Valley
SCOTTSDALE, ARIZ. – LevRose Commercial Real Estate, one of the Valley’s leading commercial real estate firms, recently added Austin Knebel as an advisor to its growing team. Knebel will specialize in selling and leasing properties throughout Scottsdale, Tempe and downtown Phoenix.
Knebel gained strong management and problem-solving skills through numerous leadership positions throughout his career. Prior to LevRose, Knebel was a senior manager of strategic initiatives at Katerra Inc., a fast-paced construction company where he helped the company scale from a small start-up to a billion dollar business. Before Katerra, Knebel was also a senior strategy associate at Univar in Chicago and an investment banker at UBS in London and South East Asia where he worked while obtaining his MBA.
“Adding Austin to our growing team is a great asset to us and our clients,” said Jon Rosenberg, designated broker managing partner and co-founder of LevRose. “Through his experience, Austin’s able to utilize his logistics and operational experiences to develop a strategy that will meet his clients’ current needs, as well as any potential needs that may arise in the future.”
Originally from Iowa, Knebel moved to the Valley of the Sun to receive his Bachelor of Science degree in management and finance at Arizona State University.
“I’m excited to have the opportunity to work with such an established company that has had both a major and positive impact on the Valley’s real estate market,” Knebel said. “I’m eager to incorporate my experience and skills into this new position in order to provide our clients with the best solutions.”
Occupation: Commercial Real Estate Broker and Partner, LevRose Commercial Real Estate
Why you chose to work in your field: I initially chose commercial real estate because my older brother started in that industry after he graduated college. Based on his experience and success with it, it was extremely intriguing to me and led me to pursue it further. The overall ability to essentially work for yourself and create your own schedule was definitely a part of the end decision as well, I wouldn’t change a thing.
What I like most about what I do: The excitement of waking up and not knowing what every day will hold. New deals and relationships can arise immediately and change the path of everything that you were previously working on.
Where did you come from: Cleveland, Ohio.
Why did you decide to move to Arizona? During my time in college in Florida I came out to visit Arizona multiple times to watch Ohio State play in the Fiesta Bowl. With every visit I was drawn more and more to Arizona. After college I ended up choosing Arizona over Florida.
If I had picked a different occupation it might have been: As a kid I was passionate about animals and always saw myself being a veterinarian.
How has poker played a part of your life? I started playing with my family when I was 14 and poker has always served as a fun yet educational hobby for me to enjoy. Being able to read people translates well into my industry when navigating deals for my clients and I’ve developed great relationships with fellow poker players who are also in real estate.
What is a challenging aspect of your job? The ups and downs with deals in general. You have to realize that not every deal will go through but if you learn from the ones that didn’t then the future ratio will definitely be in your favor.
People who inspired me (and how): My dad inspired me as a kid based on his work and family balance. He was constantly working and had to travel a good amount when we were growing up but that never stopped him from making the time for myself and my siblings. He was a strong mentor for me as well when I was making the final decision to choose commercial real estate, he owned properties himself and had good intel/experience.
One thing I want my clients to know about me: When I’m engaged with a client, they get me 24/7 and can always access me. Customer service is key with what I do.
My advice to today’s youth: Take the time to really evaluate what you enjoy doing and what your strengths are. It’s better to have a slower decision process upfront and make the proper choice with what will be your potential lifelong career.
AZ Big Media – August 17, 2018 – Arizona is home to many innovative companies that are driving the state’s economy. A total of 120 Arizona companies made the Inc. 5000 list of the fastest-growing private firms in America for 2018. From DEPCOM Power (No. 5), which offers turnkey development support services and engineering solutions for utility-scale solar, to PlanetOne Communications (No. 4,955), a Scottsdale-based telecommunications company, Arizona companies are changing the business landscape for the state and for the world.
“We pride ourselves on the ability to build trust with our clients by being uniquely transparent and delivering profitable results,” said Chris Loeffler, Caliber founder and CEO of Caliber – The Wealth Development Company, which ranks No. 1586 on this year’s list. The real estate investment firm has enjoyed a three-year revenue growth of more than 324 percent. “It’s this trust, and our incredible team, that has given us the ability to continue on a path of rapid growth and we are honored to once again be recognized on the Inc. 5000 list.”
HVAC industry entrepreneur Ken Goodrich acquired Goettl Air Conditioning in 2013 and has transformed the company into an industry leader and rapidly expanded its operations to include Tucson, Phoenix, Las Vegas and Southern California. Now, he has Goettl Air Conditioning ranked 1,786 on the 2018 Inc. 5000.
“Our team has worked hard to make Goettl Air Conditioning the company it is today,” said Goodrich, Goettl Air Conditioning’s CEO. “We are proud of our accomplishments and look forward to continuing to build the most innovative HVAC firm in the nation. At Goettl Air Conditioning, we do things the right way, not the easy way.”
Riot Hospitality Group, the premier hospitality management company responsible for some of the most successful restaurants and nightlife concepts in Arizona, ranked 3,826th. The honor marks the first time the local restaurant group has made the publication’s prestigious ranking of the nation’s fastest-growing private companies.
“We are honored to make the Inc. 5000 list for the first time,” says Ryan Hibbert, CEO of Riot Hospitality Group. “Our hardworking team and unique concepts are the foundation for our growth and this recognition is a testament to what we have accomplished and what is to come. We remain focused on growing the Riot Hospitality Group team and plan for strategic nationwide restaurant expansion over the next few years.
Here are a few other Arizona companies that made the Inc. 5000 list for 2018, with their ranking, percentage growth and their hometown:
JULY 28, 2017 – PHOENIX BUSINESS JOURNAL – A Scottsdale marketing agency is more than doubling its footprint with a new headquarters.
The James Agency, a public relations and marketing firm, announced plans to move into a new development at 64th Street and Thomas Road this fall, called The Quad.
The agency’s new space is roughly 9,000 square feet, more than twice the size of its current 3,903-square-foot space at 8100 E. Indian School Road, Suite 201.
The James Agency has recently expanded its team by 25 percent, and operational expenses will increase by 300 percent.
“In today’s fast-paced digital world, it’s necessary to be early adopters and have the ability to respond to market trends in real time,” said Veronique James, founder and CEO of The James Agency. “As an industry leader, TJA has increased our focus on digital by significantly adding to our interactive department and restructuring our client services format to include both traditional and digital account management teams.”
The two-story space at 6240 E. Thomas Road, Suite 200 will have interior design features curated by Private Label International and custom furniture solutions planned by WORKSpaces.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a Scottsdale office building at 5900 N. Granite Reef. Bonafina, LLC purchased the 12,964 square foot two-story Scottsdale office building from 5900 Granite Reef, LLC for $1,890,000. Zak Kottlerand Geoff Turbow of Levrose Commercial Real Estate facilitated the sale.
There’s no better place for a business than Scottsdale. Named “the most livable city,” It is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Scottsdale also offers outstanding opportunity in one of the most prestigious communities in the United States. The business community that exists here is remarkable. In fact, many corporate leaders who have visited here have also discovered a business community and a lifestyle that is ideal for a successful company.
Scottsdale’s economy is very diverse and incredibly entrepreneurial. Small and mid-size businesses have found great success and are on the cutting-edge of the latest technologies and products that shape our world and address the needs of today’s consumers.
A Better Today Recovery Services, LLC has purchased a 21,672 square foot office building at 4801 E. McDowell Road in Phoenix, AZ. The two-story Phoenix office building sold for $1,450,000. Geoff Turbow and Zak Kottlerof Levrose Commercial Real Estate/TCN Worldwide facilitated the sale.
The City of Phoenix
Phoenix is the sixth largest city in the U.S. and is booming with entrepreneurial growth and success. The cost of living and doing business in the City of Phoenix is lower than any other major metropolitan area in the United States. The area contains excellent commercial real estate opportunities thanks to Phoenix’s vast attractions and quirks.
Downtown
Downtown Phoenix is the city’s urban core. Roosevelt Row is a growing arts district that attracts tourists and residents for Phoenix’s First Fridays, which allows people to view the art galleries in downtown for free. The Phoenix Suns and Arizona Diamondbacks both play nearby, attracting thousands of people for their games. Small businesses to large corporate hotels take advantage of the influx of people who come in for conferences and on vacation. Industrial real estate is in demand downtown.
Arcadia
This small, upscale neighborhood in the City of Phoenix is the perfect place to grow or start a business. In the area, the Arizona Biltmore with its array of shops and high-scale restaurants attract customers. The neighborhood also sees many small strip malls that house local businesses and mom and pop shops.
North Phoenix
North Phoenix borders the city of Scottsdale and shares similar amenities. Many strip malls have been built to accommodate people as the city of Phoenix grows. This area is home to several malls, medical facilities, etc. Also bordered by the growing city of Paradise Valley, North Phoenix is perfectly situated for any business.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a Scottsdale office building at 5685 North Scottsdale Road. Jasper Property, LLC purchased the 10,949 square foot Scottsdale office building from Building E, LLC for $2,550,000. Zak Kottlerof Levrose Commercial Real Estate facilitated the sale.
The City of Scottsdale
There’s no better place for a business than Scottsdale. Named “the most livable city,” the City of Scottsdale is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Scottsdale also offers outstanding opportunity in one of the most prestigious communities in the United States. The business community that exists here is remarkable. In fact, many corporate leaders who have visited here have also discovered a business community and a lifestyle that is ideal for a successful company.
Scottsdale’s economy is very diverse and incredibly entrepreneurial. Small and mid-size businesses have found great success and are on the cutting-edge of the latest technologies and products that shape our world and address the needs of today’s consumers.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a Scottsdale office building at 15757 N. 78th Street. Westpac Holdings, LLC purchased the 23,701 square foot high tech Scottsdale office building from 15757 N. 78th Street, LLC for $4,356,450. Zak Kottlerof Levrose Commercial Real Estate facilitated the sale.
The City of Scottsdale
There’s no better place for a business than Scottsdale. Named “the most livable city,” the City of Scottsdale is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Scottsdale also offers outstanding opportunity in one of the most prestigious communities in the United States. The business community that exists here is remarkable. In fact, many corporate leaders who have visited here have also discovered a business community and a lifestyle that is ideal for a successful company.
Scottsdale’s economy is very diverse and incredibly entrepreneurial. Small and mid-size businesses have found great success and are on the cutting-edge of the latest technologies and products that shape our world and address the needs of today’s consumers.
JUNE 28, 2017 – AZBIGMEDIA- Brokers from LevRose Commercial Real Estate closed the sale of Thunderbird Village in Peoria for $12.5 million.
Located at 7518 W. Thunderbird Road, the 82,099 square-foot building includes a 90 percent leased retail center.
California-based company, Deerwood Retail Opportunities AZ, LLC, purchased the property from CAZCO Asset Management Inc. The brokers for the buyer were Trent McCullough, Mark Cassell and Greg Vanlerberghe of LevRose Commercial Real Estate and the brokers for the seller were Ryan Schubert and Michael Hackett of Cushman Wakefield.
“Trent, Mark and Greg found their client an outstanding property to purchase,” said Jon Rosenberg, managing partner and co-founder of LevRose. “It’s not always easy to find a property with the quality of tenants and occupancy that this investment currently has in place.”
Locally owned and serving the Valley since 1992, LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally. – read more at azbigmedia.com
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a Peoria daycare facility at 20565 N. Fletcher Way in Peoria, AZ. Pathfinder 308, LLC purchased the fully occupied Peoria daycare facility from KC Propco, LLC for $1,360,000. Matt Leonard of Levrose Commercial Real Estate represented the seller in the sale.
THE CITY OF PEORIA
This city that borders Phoenix was listed in Money Magazine’s “Top 100 places to live.” The City of Peoria has been growing as more people relocate to the Phoenix valley. Peoria offers many amenities including Spring Training games with the San Diego Padres and Seattle Mariners.
As the ninth largest city in Arizona, urban development is continually stressed. Peoria is trying to meet the demands of its growing population with the creation of a new freeway for industrial and mixed development use.
Peoria offers an abundance of activities for residents and visitors. Many hiking options exist along with Lake Pleasant, which is a popular oasis destination for outdoor adventures and relaxation.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a Scottsdale office building at 7520 E. 2nd Street. 7520 E. 2nd Street, LLC purchased the single-story Scottsdale office from Black Properties, LLC for $1,050,000. Kelly O’Deaof Levrose Commercial Real Estate facilitated the sale.
The City of Scottsdale
There’s no better place for a business than Scottsdale. Named “the most livable city,” the City of Scottsdale is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Scottsdale also offers outstanding opportunity in one of the most prestigious communities in the United States. The business community that exists here is remarkable. In fact, many corporate leaders who have visited here have also discovered a business community and a lifestyle that is ideal for a successful company.
Scottsdale’s economy is very diverse and incredibly entrepreneurial. Small and mid-size businesses have found great success and are on the cutting-edge of the latest technologies and products that shape our world and address the needs of today’s consumers.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a 6,980 square foot Scottsdale office building at 8110 East Cactus Road. Gateway Church Scottsdale, a local church purchased the office building for $985,000. The sale was facilitated by Zak Kottler.
There’s no better place for a business than Scottsdale. Named “the most livable city,” the City of Scottsdale is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town Scottsdale, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Scottsdale offers outstanding opportunity in one of the most prestigious communities in the United States. The business community that exists here is remarkable. In fact, many corporate leaders who have visited here have also discovered a business community and a lifestyle that is ideal for a successful company.
Scottsdale’s economy is very diverse and incredibly entrepreneurial. Small and mid-size businesses have found great success and are on the cutting-edge of the latest technologies and products that shape our world and address the needs of today’s consumers.
6 Turns, LLC purchased a Scottsdale medical office condo at 3271 N. Civic Center Plaza in Scottsdale, AZ. The 16,919 square foot medical office building in Old Town Scottsdale sold for $2,650,000. The seller was 3271 Civic Center, LLC. Kelly O’Dea of Levrose/TCN Worldwidefacilitated the sale.
The City of Scottsdale
There’s no better place for a business than Scottsdale. Named “the most livable city,” the City of Scottsdale is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town Scottsdale, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalkfor people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
The Levrose Retail Team has completed the sale of the 82,099 square foot Bashas’ anchored shopping center on the northwest corner of 75th Avenue and Thunderbird Road in Peoria. Deerwood Retail Opportunities AZ, LLC purchased the shopping center for $12,500,000. The Levrose Commercial Real Estate Retail Team, lead by Trent McCullough, Greg Vanlerberghe and Mark Cassell brokered the transaction.
The City of Peoria
This city that borders Phoenix was listed in Money Magazine’s “Top 100 places to live.” The City of Peoria has been growing as more people relocate to the Phoenix valley. Peoria offers many amenities including Spring Training games with the San Diego Padres and Seattle Mariners.
As the ninth largest city in Arizona, urban development is continually stressed. Peoria is trying to meet the demands of its growing population with the creation of a new freeway for industrial and mixed development use.
Peoria offers an abundance of activities for residents and visitors. Many hiking options exist along with Lake Pleasant, which is a popular oasis destination for outdoor adventures and relaxation.
The City of Peoria has steadily grown from a farming community into what is now the 9th largest city in the state of Arizona. Peoria is home to Lake Pleasant Regional Park, a large water recreation area housing campgrounds and offering a variety of fishing and boating activities. Another major recreational facility is the Peoria Sports Complex, which serves as the spring training site for both the Seattle Mariners and San Diego Padres. Built in 1994, the complex was the first Major League Baseball facility to be shared by two teams for spring training games and year-round player development. The City of Peoria is also home to the Challenger Space Center, a facility over 20,000 square feet in size, which offers simulated space missions and other educational experiences for school students, families, and interested individuals. Additional attractions that bring an abundance of people and revenue to Peoria include Canyon Raceway, Turf Soaring School, Peoria Historical Society Museum and Polar Ice Rink.
For more information about Peoria office space or Peoria retail space, please contact one of our friendly and knowledgeable real estate specialists.
One of the largest Arizona real estate and business schools in the nation as well as one of the oldest in Arizona, the Arizona School of Real Estate & Business, is moving from its iconic Scottsdale location to a 14,000-square-foot office space within Riverwalk at Talking Stick.
LevRose Commercial Real Estate, a leading Arizona-based commercial real estate brokerage and management company, recently announced the deal for the school’s new office space.
LevRose’s Keri Davies and Jon Rosenbergrepresented the tenant, Arizona School of Real Estate & Business, during the lease negotiations. Kurt Rosene of Novo Development represented the Riverwalk at Talking Stick’s landlord – The Alter Group.
“Although part of what made the Arizona School of Real Estate & Business iconic was its Scottsdale location, this move to a progressive new location marks a new era in its history,” said Jon Rosenberg, co-founder and managing partner of LevRose Commercial Real Estate. “The Arizona School of Real Estate & Business will enjoy upgraded and efficient space with highway visibility and ample parking.”
Riverwalk at Talking Stick is located at 7350 N. Dobson Road in Scottsdale, and is adjacent to Top Golf and just east of the Talking Stick Resort Casino.
The Arizona School of Real Estate & Business was founded in 1969. Since 1985, the Arizona School of Real Estate & Business has built up a large portion the real estate community in the Valley and evolved from a basic real estate school to becoming one of the first real estate institutions in Arizona to expand its education for the housing industry as a whole and related business sectors.
Fitting the school’s plans for future growth, the Riverwalk location will not only be a new, state-of-the-art facility for the school, but will also provide them with the much needed benefit of Loop-101 access, freeway signage, additional parking and common facilities, including a café, pharmacy and computer lab areas, to provide further benefits for the students as needed during breaks and in between classes. – read more at azbigmedia.com
Z6, LLC has purchased a 26,191 square foot Chandler industrial building at 261 N. Roosevelt Avenue for $1,975,000. Zak Kottlerof Levrose/TCN Worldwide facilitated the sale. The seller was Coxreels Holdings, LLC.
Chandler receives more than 330 sunny day a year and offers an exceptional assortment of art and entertainment venues such as The Arizona Railway Museum, The Chandler Center for the Arts, The Chandler Museum and The Commemorative Air Force Museum
Chandler, deemed as an All-America City where entrepreneurial spirit and hometown traditions blend together, offers quality services, a diverse culture and an exciting history. Chandler is a beautiful, modern city in the heart of the Phoenix metropolitan area.
THE CHANDLER MARKET
The City of Chandler has Southern flare that attracts both residents and businesses. Originally founded as an agriculture town, Chandler was home to ranches and cowboys. Cotton, corn and alfalfa were the main commodities back in the day.
Chandler hasn’t lost all of its ranching charm but has certainly developed and expanded in the past two decades. It is the fourth largest city in Arizona with a 2010 population of 236,123, growing 33.7 percent from July 2000 to April 2010. Chandler Fashion Square was added to meet shopping demands. The city has focused on arts development and opened the Chandler Center for the Artsdowntown, which can seat more than 1,000 people. The Arizona Railway Museum is also a popular destination.
The city is one of the fastest growing areas in Arizona thanks to the many companies that have opened facilities there including Intel and Verizon Wireless. Retail and office space is abundant in the growing city.
A Sharp Investment, LLC has purchased a 2,400 square foot office building at 2729 N. 7th Street in Phoenix, AZ. The 7th Street office building sold for $408,000. Matt Leonard of Levrose Commercial Real Estate/TCN Worldwide facilitated the sale.
The City of Phoenix
Phoenix is the sixth largest city in the U.S. and is booming with entrepreneurial growth and success. The cost of living and doing business in the City of Phoenix is lower than any other major metropolitan area in the United States. The area contains excellent commercial real estate opportunities thanks to Phoenix’s vast attractions and quirks.
Downtown
Downtown Phoenix is the city’s urban core. Roosevelt Row is a growing arts district that attracts tourists and residents for Phoenix’s First Fridays, which allows people to view the art galleries in downtown for free. The Phoenix Suns and Arizona Diamondbacks both play nearby, attracting thousands of people for their games. Small businesses to large corporate hotels take advantage of the influx of people who come in for conferences and on vacation. Industrial real estate is in demand downtown.
Arcadia
This small, upscale neighborhood in the City of Phoenix is the perfect place to grow or start a business. In the area, the Arizona Biltmore with its array of shops and high-scale restaurants attract customers. The neighborhood also sees many small strip malls that house local businesses and mom and pop shops.
North Phoenix
North Phoenix borders the city of Scottsdale and shares similar amenities. Many strip malls have been built to accommodate people as the city of Phoenix grows. This area is home to several malls, medical facilities, etc. Also bordered by the growing city of Paradise Valley, North Phoenix is perfectly situated for any business.
A behavioral health services group has leased 20,653 square feet of Phoenix office space at West 101 Business Center at 1840 N. 95th Avenue in Phoenix, AZ. The lease was facilitated by Michael Waxmanof Levrose Commercial Real Estate.
THE PHOENIX MARKET
Phoenix is the sixth largest city in the U.S. and is booming with entrepreneurial growth and success. The cost of living and doing business in Phoenix is lower than any other major metropolitan area in the United States. The area contains excellent commercial real estate opportunities thanks to Phoenix’s vast attractions and quirks.
Downtown
Downtown Phoenix is the city’s urban core. Roosevelt Row is a growing arts district that attracts tourists and residents for Phoenix’s First Fridays, which allows people to view the art galleries in downtown for free. The Phoenix Suns and Arizona Diamondbacks both play nearby, attracting thousands of people for their games. Small businesses to large corporate hotels take advantage of the influx of people who come in for conferences and on vacation. Industrial real estate is in demand downtown.
Arcadia
This small, upscale neighborhood in Phoenix is the perfect place to grow or start a business. In the area, the Arizona Biltmore with its array of shops and high-scale restaurants attract customers. The neighborhood also sees many small strip malls that house local businesses and mom and pop shops.
North Phoenix
North Phoenix borders the city of Scottsdale and shares similar amenities. Many strip malls have been built to accommodate people as the city of Phoenix grows. This area is home to several malls, medical facilities, etc. Also bordered by the growing city of Paradise Valley, North Phoenix is perfectly situated for any business.
Zachar Properties, LLC has purchased a 8,500 square foot office building at 514 E. Rose Lane in Phoenix, AZ. The two-story office building in the City of Phoenix sold for $840,000. Zak Kottler of Levrose Commercial Real Estate/TCN Worldwidefacilitated the sale.
The City of Phoenix
Phoenix is the sixth largest city in the U.S. and is booming with entrepreneurial growth and success. The cost of living and doing business in the City of Phoenix is lower than any other major metropolitan area in the United States. The area contains excellent commercial real estate opportunities thanks to Phoenix’s vast attractions and quirks.
Downtown
Downtown Phoenix is the city’s urban core. Roosevelt Row is a growing arts district that attracts tourists and residents for Phoenix’s First Fridays, which allows people to view the art galleries in downtown for free. The Phoenix Suns and Arizona Diamondbacks both play nearby, attracting thousands of people for their games. Small businesses to large corporate hotels take advantage of the influx of people who come in for conferences and on vacation. Industrial real estate is in demand downtown.
Arcadia
This small, upscale neighborhood in the City of Phoenix is the perfect place to grow or start a business. In the area, the Arizona Biltmore with its array of shops and high-scale restaurants attract customers. The neighborhood also sees many small strip malls that house local businesses and mom and pop shops.
North Phoenix
North Phoenix borders the city of Scottsdale and shares similar amenities. Many strip malls have been built to accommodate people as the city of Phoenix grows. This area is home to several malls, medical facilities, etc. Also bordered by the growing city of Paradise Valley, North Phoenix is perfectly situated for any business.
Craftsman Court, LLC has purchased ±2,085 square foot office freestanding retail building at 4200 N. Craftsman Court in Scottsdale, AZ for $640,000. The seller was BTT Properties, LLC. Geoff Turbow of Levrose Commercial Real Estate/TCN Worldwide facilitated the sale.
There’s no better place for a business than Scottsdale. Named “the most livable city,” It is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town Scottsdale, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of four Scottsdale office buildings. 70th Street Business Center, LLC bought the single-story office buildings 2922-2928 N. 70th Street in Scottsdale, AZ for $950,000. The seller was TM Properties, LLC. Geoff Turbow of Levrose Commercial Real Estate facilitated the sale.
There’s no better place for a business than Scottsdale. Named “the most livable city,” It is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
Scottsdale also offers outstanding opportunity in one of the most prestigious communities in the United States. The business community that exists here is remarkable. In fact, many corporate leaders who have visited here have also discovered a business community and a lifestyle that is ideal for a successful company.
Scottsdale’s economy is very diverse and incredibly entrepreneurial. Small and mid-size businesses have found great success and are on the cutting-edge of the latest technologies and products that shape our world and address the needs of today’s consumers.
Levrose Commercial Real Estate/TCN Worldwide has completed the sale of a 2,720 square foot Scottsdale office space in McDowell Mountain Business Park at 9376 E. Bahia Drive. The single-story Scottsdale office condo for $462,400. The sale was facilitated by Zak Kottler. The buyer is Robinson Properties, LLC.
The City of Scottsdale
There’s no better place for a business than Scottsdale. Named “the most livable city,” It is Arizona’s the sixth largest city with a 2010 population of 217,385, growing 7.2 percent from July 2000 to April 2010. Scottsdale is home to Scottsdale Fashion Square, a high-end retail mall that houses upscale stores and restaurants. But shopping isn’t the only fun adventure Scottsdale has to offer.
Old Town Scottsdale, the downtown of Scottsdale, is the best place to relax after a long day. Trendy restaurants and bars make Old Town a lively location to go to lunch with co-workers or have a cocktail after work.
Scottsdale is also growing its own arts scene. Several museums call the city home including the Scottsdale Museum for Contemporary Art. On Thursdays, the city hosts an ArtWalk for people to visit the Scottsdale Arts District and view the many galleries.
Other attractions include casinos and resorts like the Talking Stick Casino. If you want your business to be located in a city with a lot to offer from entertainment to relaxation, Scottsdale is the perfect place for retail and office space.
