News

In February of this year, the National Retail Federation predicted annual U.S. retail sales growth between 4%-6% for 2023, with non-store and online sales expected to grow between 10%-12%. This is lower than the 7% growth seen in 2022, but higher than the pre-pandemic average of 3.6%. There was also a surge of CEO departures …

Trade Group Predicts Retail Sales Growth, CEO Departures Surge, Pending Home Sales Rise Read More »

The FDIC is leaning on the private sector to help unwind Signature Bank’s vast commercial real estate loan portfolio of roughly $60 billion. Newmark has been tapped to lead the sale process, with the loans being structured into pools. The majority of the loans are five-year, fixed rate, and are high-performing but may be sold …

Newmark to Shepherd Sale of $60B in Signature Loans Read More »

This year, around $270B of commercial real estate loans are set to expire, of which $80B are for office buildings. This has caused concern due to the low office occupancy rates, increasing the risk of foreclosure. Multiple high-profile defaults have already occurred, such as Brookfield Asset Management defaulting on $750M of debt in Los Angeles …

CRE Is About To Be A ‘Real Mess’ And A $270B Problem For The Banks Read More »

A 25-story apartment tower is proposed for the northeast corner of Mill Avenue and University Drive in Tempe. The project is comprised of 453 apartment units and 3,800 square feet of commercial space on the ground floor. Additionally, a 7-story apartment project is underway in Tempe which will bring 200 new rental units, including 180 …

25-story apartment tower proposed for busy corner of Tempe; other real estate deals to know Read More »

Cedar Grove Group is planning to transform an office building in Phoenix, Arizona into 145 new apartments. The developer is requesting to rezone the property from industrial park to multifamily, and the city planning commission is scheduled to vote on the rezone April 13 with a recommendation for approval from the North mountain Village planning …

Developer plans to rework office building near Metrocenter in Phoenix into multifamily Read More »

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 …

All the space in The Grove’s office building is spoken for and tenants are settling in — take a peek inside Read More »

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 …

LevRose second quarter activity totals $87.5M, 780,000 square feet of commercial property in Scottsdale Read More »

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 …

LevRose Makes Inc. 5000 List for the 6th Time! Read More »

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 »