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 …
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, …
Retail in Phoenix is outperforming the national market. A new report shows the retail vacancy rate in Phoenix has dipped below 10%, and with the rising demand has come increased rental rates. Overall, rates have climbed 3.2% over last year, but in the most popular submarkets, which include Downtown Phoenix, Scottsdale and Northwest Phoenix, rents …
The cycle is mature—so mature that many are predicting a recession in the next 12 months. The mature cycle has meant peak pricing in many top markets, and as a result, investors have fled to secondary markets to chase yield, and Phoenix has been a favorite. In prior cycles, Phoenix has been a final play …
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 …
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 …
Submarine Sandwich Chain Enters into Lease of 1,418 Square-Foot Restaurant Space on Scottsdale Road SCOTTSDALE, ARIZ. – LevRose Commercial Real Estate, a leading Arizona-based commercial real estate brokerage firm, announced recently that Jersey Mike’s leased a 1,418 square-foot space in Old Town Scottsdale at 4020 N. Scottsdale Road. LevRose Commercial Real Estate’s Danielle Davis represented the …
LevRose Commercial Real Estate Leases Space to Jersey Mike’s in Old Town Scottsdale Read More »
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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