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 »
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 …
Investor buys 12 acres in Goodyear that could hold future commercial development Read More »
The sectors in Austin Seattle, Phoenix and Miami may be running at different temperatures, but the fundamentals suggest they’re not overheating. Strong demand is likely to fill millions of square feet of industrial space now under construction, according to “Industrial Trends in Austin, Seattle, Phoenix and Miami,” a new report by CommercialEdge, a research and marketing …
Why Industrial Remains Healthy for These Four Markets Read More »
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 …
Hospital groups partner to build freestanding pediatric hospital in Glendale Read More »
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. …
8 Metro Phoenix data center developments to watch Read More »
America is aging. According to the U.S. Census Bureau’s National Population Projections, in the next few decades, 1 in every 5 residents will be older than age 65, a number that’s projected to outpace those younger than 18 for the first time in history. “There are 10,000 people turning 65 every day in our …
Here are the trends shaping senior living development Read More »
Pictured Above: 7881 E Gray Rd, Scottsdale, Arizona | Represented by Kottler Cosgrove Team LevRose Commercial Real Estate/TCN Worldwide has released the top notable transactions for May of 2021: Zak Kottler, Joe Cosgrove, Hunter Chasse, and Aaron Cook of LevRose/TCN Worldwide represented both sides of the transaction for 7881 E Gray Rd in Scottsdale, …
Newly Released: Top Notable Transactions for May of 2021 Read More »
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, …
With a population of just over 5 million people, Phoenix is the 10th largest metropolitan area in the country. (Getty Images) 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 data from the U.S. Census Bureau. Multifamily landlords …
Phoenix Tops US in Net Migration For Third Straight Year Read More »
Millennials are moving to the Valley of the Sun in droves. Phoenix ranks No. 3 among top cities where millennials are moving, according to a new study by SmartAsset. The report is SmartAsset’s fifth annual study analyzing Census Bureau data on migration patterns of people between the ages of 25 and 39. As millennials move out …
Phoenix among top US cities where millennials are moving Read More »
Despite a slow year for office real estate, the biggest investment sale and largest lease since the pandemic began took place in the fourth quarter of 2020. Office investment in the fourth quarter hit $570 million, nearly reaching the total amount of investment sales that took place in the first three quarters combined, which …
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 …
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 …
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 …
Latest Sam Fox Restaurant Opening Breaks Record, Even Amid Pandemic Read More »
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 …
Lagoon water park, entertainment venue headed to West Valley Read More »
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 …
Central Arizona Supply Unveils Plans to Renovate Historic Potato Barn in Gilbert Read More »
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, …
Mesa to be home to largest privately-owned multisport facility in the country Read More »
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 …
HonorHealth Opens Sonoran Crossing Medical Center Read More »
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 …
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, …
Here’s Why Arizona’s Economy Will Bounce Back Faster than Nation Read More »
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: …
Amazon Confirms 11 New Metro Phoenix Sites Opening This Year Read More »
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 …
Hotel Breaks Ground at The Pavilions at Talking Stick Read More »
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 …
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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