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Cavasson

Senior Living, Apartment Complex Among Next Planned In North Scottsdale Cavasson Project

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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 …

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Mesa industrial project

1.5 Million-Square-Foot Industrial Project Proposed for 100 Acres in Mesa

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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 …

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Fall 2019 Arizona Case Law Affecting Commercial Real Estate and Lending

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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

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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

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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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Levrose Commercial Real Estate closes $3.35m multi-tenant office/flex investment in Scottsdale Airpark

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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 …

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LevRose Commercial Real Estate Closes $1.8 Million Multi-Tenant Office Investment in Scottsdale

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Scottsdale, Arizona – LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage closed the sale of a multi-tenant office building in Scottsdale, Arizona for $1,800,000. Located at 8723 E. Via de Commercio, the sale was facilitated by Keri Davies and Jason Reddington of LevRose Commercial Real Estate. The property was sold to Everrich, …

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New Large-Format Starbucks Trades in Phoenix

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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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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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