News

NAIOP: These real estate trends are speeding up in wake of COVID-19 in Arizona, nationwide

The disruption in normal business caused by the novel coronavirus is accelerating certain real estate trends nationwide and in Arizona. The nation’s shift to online purchasing and working from home has kept the need for industrial buildings and data centers high. Arizona has become an attractive place to develop both industrial and data centers due …

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Federal Coronavirus Relief Efforts Near $5.6 Trillion. Here’s How It Adds Up

The outlay from the federal government and Federal Reserve to counter the U.S. economic shock from the coronavirus pandemic is approaching $5.6 trillion in loan and cash assistance to hundreds of millions of American citizens and businesses. Moreover, the amounts are likely to swell as efforts to contain the spread of the virus continue for …

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Why This Broker is Telling Owner-User Buyers to Close

The pandemic has sent a shock through the real estate markets, and many buyers have canceled or delayed current deals to wait out the new market. Jon Rosenberg of Levrose Commercial Real Estate, however, is encouraging owner-user buyers specifically not to hesitate and to close current deals. Owner-users have different needs and requirements than investment buyers, and securing …

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As Arizona Courses Thrive, Investors Give Golf Properties A Closer Look

While well over 90% of the United States observes mandatory lockdown requirements to prevent the spread of the coronavirus, observers locally have been startled to see people golfing across the state of Arizona.   How is that possible?   “Social distancing is a part of the sport of golf, so it is easy to adhere to,” Arizona …

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As April rents loom, Phoenix real estate leaders grapple with potential losses

As April 1 approaches and some Valley businesses have gone two weeks without normal business operations, property managers and landlords in the region are grappling with the possibility that many tenants will not be able to make rent. “Let’s start planning on April rent being a challenge for everyone,” said David Verwer, director of real …

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Scottsdale broker: Real estate transactions down, not stopped in wake of coronavirus

Real estate transactions such as leases and building sales have slowed but not halted in the wake of sweeping business closures due to the novel coronavirus, according to a commercial real estate expert. Jon Rosenberg, designated broker and managing partner of Scottsdale-based LevRose Commercial Real Estate, said he has seen clients put lease discussions on …

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SkySong 6 Design Plans Presented to City for Review, With Construction on New Building Scheduled to Start in May 2020

Scottsdale, Arizona — The developers of SkySong, The ASU Scottsdale Innovation Center have filed for design approval with the City of Scottsdale for SkySong 6, which will be the largest building in the project. SkySong 6 will be the next building to be constructed at SkySong, with construction now scheduled to begin in May 2020. …

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Heading Into 2020, Here Is What Foreign Investors Are Targeting In CRE

China’s retraction from the United States commercial real estate market has left a mark — but there are new substitutes waiting in the wings, coming from all corners of the globe. “Within the last 24 hours I’ve met with a Chilean group, as well as a German group last night for a closing dinner,” Nuveen …

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Multi-billion-dollar Akimel 7 planned at Loops 101 and 202

Cameron Colvin, chairman of CamCo Commercial Inc., today announced that The Solanna Group LLC and CamCo Commercial have formed a joint venture entitled “Akimel 7 Productions,” to include a land lease arrangement to develop a multi-billion-dollar next generation sports and new media entertainment destination called Akimel 7 at Loops 101 and 202 in Scottsdale on …

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Fall 2019 Arizona Case Law Affecting Commercial Real Estate and Lending

Arizona Case Law – Deed Restrictions Swain v. Bixby Village Golf Course (AZ Court of Appeals 9-19-2019) This dispute has been covered in the local newspapers for the past several years. Chicago Title Agency was the original owner of the Ahwatukee Lakes Golf Course (and at some point also acquired the Ahwatukee Country Club Golf …

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Commercial Real Estate

Year in review: Commercial real estate deals boom in Valley during 2019

Here’s a quick look at the major highlights of the year in commercial real estate in the Valley, with the top story from each month: January A bankruptcy court ruling opened up nearly 5 square miles of land near Desert Ridge Marketplace. California-based Crown Realty and Development acquired 96.5 acres of the land and master developer rights …

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Plans revealed for $157M Valley office project on tribal land

Palmer Development, the company behind several major projects on the Salt River Pima-Maricopa Indian Community near Scottsdale, has plans for another $157 million office complex on the reservation. The new development, called the Sydney, will be built at the southeast corner of Pima Road and Loop 101, directly south of another planned Palmer Development project, …

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Papago Plaza breaks ground on massive redevelopment

Sigma Contracting, Inc. today broke ground at iconic Papago Plaza in Scottsdale for up to 88,000 square feet in new retail and office buildings and a 120,000-square-foot parking garage. Sigma’s portion of the project is valued at $11 million to $16 million and will consist of the complete demolition of the original Papago Plaza, 1408 N. Scottsdale Road, …

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Glendale to Grow as New Jobs Hub Forms off Loop 303

Drive along the outer edges of Luke Air Force Base now and you’ll mostly be looking out over farmland. In five years, or even sooner, Glendale officials say that won’t be the case. The corridor along Loop 303 near Northern Parkway is being envisioned as the Valley’s next industrial park, with giant manufacturing plants and …

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Bringing the $200MM Bang to AZ

Bang Energy just acquired a new manufacturing and distribution facility in Phoenix, Arizona, for $52,323,000 million. This state-of-the-art facility will include newly engineered canning and manufacturing lines to produce Bang Energy at blistering speeds of 3,600 cans per minute! Production will also include other iconic beverage brands pioneered by Jack Owoc, Bang Energy CEO and …

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New Large-Format Starbucks Trades in Phoenix

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.   Originally Posted …

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LevRose Commercial Real Estate Welcomes Nate Goldfarb as Senior Vice President

  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 …

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Co-working Is Disrupting Office Spaces

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, …

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TCN Worldwide Appoints Jon Rosenberg to Board of Directors

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 …

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Meet your neighbor: Baumgardner serves as coach, volunteers in community

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 …

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LevRose Commercial Real Estate Expands Advisor Team

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 …

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Zak Kottler Headshot

Meet your neighbor: Kottler loves unpredictability of commercial real estate

Name: Zak Kottler 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 …

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Hayden Professional Park Sells for $8.75 Million

Scottsdale, Ariz.– LevRose Commercial Real Estate, a leading Scottsdale-based commercial real estate brokerage and management firm, recently closed the sale of Hayden Professional Park in Scottsdale for $8.75 million ($133 PSF). The 65,731-square-foot office space located at 3200 N Hayden Road was purchased by Petwin Properties from Blue Diamond Properties. LevRose Commercial Real Estate represented …

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Scottsdale marketing agency moving to new HQ, doubling footprint

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 …

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Scottsdale Office Building Sells for $1.89M

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 Kottler and 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 …

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Addiction Recovery Service Purchases Phoenix Office Building

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 …

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Prominent Scottsdale Office Building Sells for $2.55M

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 Kottler of Levrose Commercial Real Estate facilitated the sale. The City of Scottsdale There’s no better place for a business than Scottsdale. Named “the …

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Westpac Holdings Buys High Tech Scottsdale Office Building

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 Kottler of Levrose Commercial Real Estate facilitated the sale. The City of Scottsdale There’s no better place for a business than …

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