Scottsdale-based Firm Closes Deal on Prime Old Town Scottsdale Space

Scottsdale, Ariz. — LevRose Commercial Real Estate, a leading Scottsdale based commercial real estate brokerage firm closed the sale of a commercial project with a residential component in the heart of Old Town Scottsdale for $4 million ($650 PSF).

Located at 4201 N. Marshall Way, the sale was facilitated by Mark Cassell and Trenton McCullough of LevRose Commercial Real Estate. The transaction began with the international buyer, Y.G.Y Domingo, LLC/Y.G.Y Pavarotti, LLC, initially interested in the 4,350 square-foot commercial unit. As the deal progressed, the 1,800 square-foot residential unit became a factor in the transaction, as the commercial and residential spaces were separate but contiguous.

“It’s quite rare for a buyer to purchase both commercial and residential real estate together,” said Jon Rosenberg, managing partner and co-founder of LevRose Commercial Real Estate. “We couldn’t be more thrilled with how the whole deal worked out. Both the buyer and seller walked away happy thanks to the hard work of our dedicated team.”

With an expertise in office, retail and industrial tenant and landlord representation and sales transactions, LevRose Commercial Real Estate has been serving the Valley since 1992. Locally owned LevRose is affiliated with TCN Worldwide, a consortium of independent commercial real estate firms providing complete real estate solutions locally, nationally and internationally.

By Gabriela Rico | Arizona Daily Star

The booming housing market in the Tucson area has now reached the farthest west end of possible development.

Developers are planning thousands of new homes next to Ryan Airfield, near Ajo Way and Valencia Road — the farthest west that can be built out in Pima County before bumping up to state trust land.

On the south side of the intersection is a 1,200-acre site owned by two developers with plans for residential, multifamily, retail and office space.

Homebuilders are already active northeast of that intersection, and KB Home has lots under construction just east of Ryan Airfield.

“We expect continued growth in this submarket as buyers are being drawn to the area’s affordability, with prices in the $170,000s and its commuter-friendly location and proximity to amenities,” said Amy McReynolds, president of KB Home Tucson division.

The new and planned homes are drawing more retail to the city’s southwest.

New retailers have been moving into the shopping center west of Interstate 19 on Irvington Road and a regional grocer will be setting up shop on Irvington, just east of I-19.

At Ajo Way and Kinney Road, development continues on a retail center that already includes tenants such as Dairy Queen, Cricket Wireless, Domino’s Pizza and Subway, said broker Jeff Kost with Glenwood Commercial Real Estate.

The Circle K at the intersection recently closed in preparation to be razed for a bigger store with a gas-pump canopy, he said.

O’Reilly Auto Parts is developing a store nearby, and several homebuilders are interested in land around the intersection, which is underserved by restaurants and other retail, Kost said.

“In our opinion,” he said, “a grocer would do very well at this intersection.”

Read more here.

PHOENIX, ARIZONA – Libby Ekre, Principal of MEB Management Services, one of Arizona’s prominent women-owned firms, was among the winners of the 2019 Globe St. Women of Influence in commercial real estate.

Since 1983, Globe St. and Real Estate Forum have recognized women who significantly influence the real estate profession and drive the industry forward. Entries are evaluated based on a number of factors including professional reputation, career highlights, innovation, creative thinking and dedication to advancing the role of women in real estate.

Ekre, CPM was named a in the Property/Facility Manager of the Year category. She is among eight Institute of Real Estate Management (IREM) members who were honored.

“I am truly honored to be recognized, along with my fellow IREM executives, as one of Globe Street’s Women of Influence of 2019,” Ekre said. “At MEB, our purpose is to enrich the lives of our clients, residents and team members by creating value. Our team exemplifies these values and owns this mission every day. This recognition is due in large part to this dedication and I’m grateful to be a part.”

Ekre is a Principal of MEB, an Arizona-based AMO firm which manages multi-family and commercial properties as well as residential homes. Ekre oversees MEB’s quality assurance, training and human resources departments. She is the Executive CPM for the firm and holds an Arizona real estate license.

Ekre has served in a variety of leadership positions in the industry including Regional Vice President for IREM and board member of the Turn Around Management Association. She is a two-term President for the IREM Greater Phoenix Chapter. She is a 2019 Executive Committee Member for IREM. Ekre is a regular volunteer for the House of Refuge in Phoenix.

The were recognized in the July/August issue of Real Estate Forum. They were also honored at the inaugural Globe St. ELITE Women of Influence conference July 10 in Broomfield, Colorado.