There are many pros & cons of buying a commercial real estate building. With many factors to consider when making the decision whether to buy a commercial building or not. Below is a brief outline of some pros and cons when it comes to buying a CRE building. The Top Five Reasons to Buy a …
Pros & Cons of Buying A Commercial Real Estate Building Read More »
One of the more commonly asked questions we hear is “should I lease or should I buy?” There are many factors when it comes to making the lease vs. buy commercial real estate decision. Below is a brief outline of several pros and cons when it comes to leasing and buying. The top five reasons …
What is Commercial Real Estate? Commercial Real Estate is an industry that specifically focuses on business-related workspaces, as opposed to living spaces. These spaces are primarily used as a workplace or to create revenue flow for the owner of the property. Thus, it is also seen as a popular investment choice because it carries the …
The Metro Phoenix commercial real estate market remained vibrant in 2021 for LevRose CRE professionals, whose top 5 sales deals alone fetched more than $69 million. “We were not only excited to see a diverse mix of our top sales and leases (office, retail, industrial and land), but we were thrilled to have so many different teams …
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 »
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 »
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 »
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 »
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 »
Construction Tops Out at First Major Office Project in Scottsdale Airpark Since 2015 General contractor Willmeng Construction and developer Trammell Crow Co. have topped out vertical construction of the three-story Axis Raintree, the first office project to be built without a signed tenant in Scottsdale, Arizona, since 2015. The contractor said that crews placed the …
Axis Raintree Office Project Reaches Milestone in Scottsdale, Arizona Read More »
Despite the slowdown that came from the novel coronavirus pandemic, the Valley remains well positioned for future office investment, experts from CBRE said. Barry Gabel, executive vice president of CBRE in Phoenix, said some of the deals he and his team were working with clients on were put on hold during the pandemic, but some …
Office Investors Still Interested in Phoenix Despite COVID-19, Industry Experts Say Read More »
A chasm is widening between owners and occupants of office real estate around the country. Though the coronavirus pandemic has thrust thousands of companies into remote work, office landlords are counting on most of them eagerly returning to their now-deserted offices. Given how well many companies report the forced experiment has gone, data shows that …
No matter what industry you are in, you’re most likely feeling the effects of the coronavirus pandemic. Real estate is no different. The uncertainty is making a lot of buyers think twice before signing on the dotted line for their new office, retail location, warehouse, etc. However, local commercial real estate firm LevRose is advising its …
Should Real Estate Buyers Move Forward During COVID-19? Read More »
Fundamental Income, a Phoenix-based investment firm focused on single-tenant, net-leased real estate, launched new platform, called Fundamental Income Properties, to buy and lease back single-tenant buildings. The firm already has received a $500 million initial equity commitment from Toronto-based Brookfield Asset Management Inc. to invest directly into properties. Alexi Panagiotakopoulos, co-founder and CIO of Fundamental …
Phoenix Real Estate Firm Secures $500 Million to Invest in Properties Read More »
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 …
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 …
Why This Broker is Telling Owner-User Buyers to Close Read More »
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 …
Scottsdale broker: Real estate transactions down, not stopped in wake of coronavirus Read More »
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. …
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 …
Heading Into 2020, Here Is What Foreign Investors Are Targeting In CRE Read More »
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 …
Multi-billion-dollar Akimel 7 planned at Loops 101 and 202 Read More »
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 …
Fall 2019 Arizona Case Law Affecting Commercial Real Estate and Lending Read More »
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 …
Year in review: Commercial real estate deals boom in Valley during 2019 Read More »
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, …
Plans revealed for $157M Valley office project on tribal land Read More »
LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage closed the sale of a multi-tenant office/flex building in Scottsdale, Arizona for $3,350,000. Located at 15207 N. 75th St., the sale was facilitated by Jason Reddington and Keri Davies of LevRose Commercial Real Estate. The property was sold to Airpark Office 75, LLC. Reddington …
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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