Atlanta-based EV Hotel Group is seeking a $150,000 grant to help with the redevelopment and preservation of the former City Center Motel in downtown Phoenix. The project is estimated to cost nearly $27 million, and the grant would cover $500,000 worth of preservation work. The city will receive a 30-year conservation easement on the property …
Developer seeks grant for restoration of historic Phoenix motel Read More »
The recent marquee failures of two regional banks have put the lifeblood of the commercial real estate industry under threat. Around 80% of commercial real estate lending is provided by banks with assets less than $250B, meaning that these smaller banks are a huge source of CRE investments. The Federal Reserve, FDIC, and Treasury Department …
Bank Contagion Fears Shake The Foundation Of Commercial Real Estate At Its Core Read More »
Crow Holdings has completed three deals in the Inland Empire for 13.3 contiguous acres of residential land, spending a total of $51.7 million. The parcels include four single-family homes and the most expensive parcel was nearly $43.9 million. Demand for industrial space remains high in the area with recent deals for the former Auto Club …
Crow Holdings Pays Nearly $4M Per Acre for Land in the Inland Empire Read More »
The Grove is one of the most anticipated office and mixed-use developments in Phoenix. AZCREW hosted a project tour this week, giving a peek inside the 180,000 square feet of office space that is spoken for by tenants and in the coming months more will be in use. Companies such as JLL, Sendoso, Clayco, Clear …
Chicago-based LG Group has purchased a 2-acre block in downtown Phoenix for $22 million and begun construction on a 29-story residential tower. The tower will total 1.4 million square feet with 747 units and nearly 30,000 square feet of retail space. Amenities will include an outdoor lounge, kitchen, cabanas, spa, fitness turf area, half-court basketball, …
Developer unveils new renderings for proposed Phoenix residential tower Read More »
Banks can be trusted if they regularly calculate the value of their high-quality liquid assets, and report this to regulators. The recent bank closures, Silicon Valley Bank and Signature Bank initially raised questions of whether companies would have access to their funds. Secretary of the Treasury Janet Yellen, Federal Reserve Board Chair Jerome Powell, and …
CRE Owners Worried About SVB, Signature Get Immediate Relief But New Concerns Too Read More »
The collapse of Silicon Valley Bank (SVB) has left a great amount of speculation as to what’s next. SVB has been leasing the Hayden Ferry Lakeside I on Tempe since 2012, and they have announced that it was operating at more than 150,000 SSQ FT. There were plans of expanding to the remaining 60,000 sq …
How Silicon Valley Bank’s collapse could impact its Tempe office space Read More »
Walton Global acquired the smoke tree resort nine months ago and is now ready to move forward with redevelopment plans to completely reimagine the Paradise valley hotel into a new upscale 82-room boutique hotel. The new grounds will be built on top of an underground parking structure and feature an all-day bistro, with a fine-dining …
Former Smoke Tree Resort in Paradise Valley to be redeveloped into boutique hotel Read More »
The Phoenix region has experienced an unprecedented apartment building boom, with over 16,500 units added and more than 35,000 in progress. This wave of new supply has outweighed recent rental demand, causing vacancy to rise and rent growth to turn negative. The majority of new construction is for luxury apartments, particularly in Downtown Phoenix and …
Four Areas Lead the Way in Phoenix Region’s Apartment Building Boom Read More »
The US Sun Belt stretches from Phoenix, Arizona, to Florida, and up to Tennessee and the Carolinas. The Sun Belt States experienced the largest surge in population beginning in 2020, however, it is being to subside and even slightly decline by 0.1% in some areas over the past year. During the surge of population growth …
The Supply and Demand Paradigm Continues To Shift in the Sun Belt Read More »
LevRose is recognized as a firm who achieved the highest lease transaction volume in 2022. Every year costar identifies a select number of firms who closed the highest overall transaction volumes in commercial property leases within their perspective markets based on transaction data in CoStar’s commercial real estate database of all deals completed in 2022. …
LevRose is named a Top Dealmaker in Phoenix by CoStar Power Brokers Read More »
LevRose brokers facilitated deals in the second quarter of 2022 totaling $87.5 million and 780, 833 square feet in retail and office space, according to a news release. LevRose Commercial Real Estate is a market leader in the Phoenix metro area, helping clients with leasing, buying, selling and managing commercial properties. Commercial Property management is handled …
We are excited to announce that LevRose CRE has been recognized by INC. 5000! LevRose has made the list of the Inc. 5000 list of fastest-growing private companies for the 6th time! Our company would not be able to achieve all that we have, without the dedication of our team and the support from our …
Partner Keri Davies is acknowledged as one of the Most Influential Women of 2022 by AZ Big Media BACKGROUND: Keri Davies became a Partner at LevRose Commercial Real Estate in 2020 and has been part of the team for over eight years. Davies has completed 700-plus lease and sales transactions at Levrose, primarily office building …
Keri Davies Acknowledged as Most Influential Women 2022 Read More »
A residential health care facility and a 400-unit apartment complex are among the next planned developments at Cavasson, the master-planned development in north Scottsdale. Vi at Cavasson will include a four-story main building several other buildings with villas and amenities, according to documents submitted to the city of Scottsdale. The plans call for the facility …
Senior Living, Apartment Complex Among Next Planned In North Scottsdale Cavasson Project Read More »
A proposed redevelopment of much of downtown Scottsdale’s Entertainment District will go before the city’s Planning Commission on Tuesday, Oct. 27. The Scottsdale Collection would replace a handful of bars, clubs and office space with 580,000 square feet of commercial space, hundreds of apartments and hotel rooms and buildings as tall as 150 feet. The …
Planning Panel to Consider Entertainment District Plan Read More »
ARTICLE BY KTAR.COM PHOENIX – One of the biggest suppliers of natural and organic foods in North America said it will open a distribution center in Goodyear with nearly 300 jobs available before the end of October. KeHe Distributors, a wholesaler to more than 30,000 stores and other retailers in the United States and beyond, …
Grocery distributor taps Goodyear for warehouse center opening soon Read More »
PHOENIX- The COVID-19 pandemic sent a majority of the workforce home and out of the office, but that doesn’t mean commercial real estate in Arizona took a hit. “The perceptions of a negative market are pretty over-exaggerated at this point,” Jon Rosenberg, co-founder of LevRose Commercial Real Estate, told KTAR News 92.3 FM. He adds that …
Commercial Real Estate Grows in Arizona Despite Hits From COVID-19 Pandemic Read More »
The city of Glendale is seeking to annex another 36 acres of land next to the Loop 303 for a proposed industrial, commercial and residential development. The site plans call for a mixed-use project on the southeast corner of Northern Avenue and Cotton Lane and could include three buildings totaling about 345,000 square feet …
Glendale Seeks To Annex 36 Acres For Mixed-Use Project With Commercial, Residential Read More »
The facility is envisioned as a sustainable showcase, using 100 percent renewable energy. Facebook plans to expand its data center footprint to the state of Arizona with the opening of an $800 million project in the Phoenix area. The Facebook Mesa Data Center is expected to span approximately 960,000 square feet in Mesa and …
A proposed industrial project in Mesa would cover more than 100 acres and cost up to $150 million, if the project is approved by Mesa City Council. The AirPark 202 project would consist of six buildings, totaling 1.5 million square feet of new “high-quality” industrial space. It is being proposed on the southeast corner of Warner …
1.5 Million-Square-Foot Industrial Project Proposed for 100 Acres in Mesa Read More »
Returning to office this fall — at least part of the time — for many employees will also mean a return to commuting. Productivity has been a central topic in the ongoing remote work versus in-office debate. Proponents of a remote-first workplace say not having to drive or take a train for 30 minutes, …
How Return-to-Commuting Could Affect Return-to-Office — and Larger Office Market Read More »
The Valley’s National Hockey League franchise has been in search of a long-term arena solution for more than half a decade. That fix may finally be in focus. The city of Tempe wants a professional sports team to develop 46 acres of city-owned land that is currently a solid waste compost yard into a …
Arizona Coyotes’ vision: Create a ‘Deer District’ around proposed Tempe arena Read More »
Economic recovery is well underway. Employment in Phoenix metro is 75% recovered, with some industries surpassing pre-pandemic highs. Optimistic expectations from the Greater Phoenix Economic Council place full employment recovery in the third quarter of 2021. Employment is picking up faster than expected, with labor shortages being the largest hurdle to reaching pre-pandemic employment. …
Economic diversification drives Phoenix metro economy Read More »
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, …
Single-tenant retail draws increased investor interest in Phoenix Read More »
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 …
Here’s why Scottsdale and Tempe are experiencing a development boom Read More »
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 …
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, …
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 …
Economic development officials hope Suns’ success helps lure more companies to Phoenix Read More »
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 …
Construction begins on Phoenix redevelopment that includes Sam Fox hotel Read More »
A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
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