“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
By RED News Service – June 26, 2018
Phoenix, Arizona – A private investor in Scottsdale has purchased the Comfort Suites Old Town Scottsdale at 3275 N. Drinkwater Blvd. for $7.25 million ($120,833 per key).
The investor, who specializes in hospitality properties, plans to update the operations of the hotel and take advantage of quality market conditions in the Old Town Scottsdale hotel industry.
The Comfort Suites Old Town Scottsdale is situated on 1.32 acres of land an includes 32,436-square-feet of space. The 60-room suites hotel was constructed in 1995.
The Scottsdale investor purchased the property from Colony North Star REIT, with offices in Los Angeles and New York. James Meng and Jon Grantham of Colliers International in Greater Phoenix negotiated the purchase on behalf of the buyer. Colony North Star represented itself in the transaction.
“This is a great example of the Colliers International Hotel team working with institutional ownership to provide an otherwise unobtainable opportunity to the private capital pool,” says Meng.
According to Meng, Phoenix is experiencing pressure from both fronts for pricing of assets. We have an expanding 10-year bond rate on one side and cap rates compressing from out of state buyers seeking higher spreads than what they would receive in west coast gateway cities.
“Utilizing our institutional connections and experience in operations, we were able to connect the bridge by providing Colony North Star a great price and the private investor the opportunity to capitalize on a newly renovated hotel in one of Phoenix’ hottest submarkets,” says Grantham.
Colony North Star currently has assets under management of $43 billion and manages capital on behalf of stockholders, as well as institutional and retail investors in private funds, non-traded and traded real estate investment trusts and registered investment companies. In addition, the company owns North Star Securities, LLC, a captive broker-dealer platform which raises capital in the retail market. The firm maintains principal offices in Los Angeles and New York, with more than 500 employees in offices located across 18 cities in 10 countries. SEE IT ALL: https://realestatedaily-news.com/comfort-suites-in-old-town-scottsdale-sells-for-7-25-million/
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
KASTEN LONG Commercial Group and AMA Events, Resources & Education For Apartment Owners
GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER 1st QTR 2018 / KASTEN LONG COMMERCIAL GROUP.
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
FROM ME:
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME walterunger@ccim.net
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net
WEEKLY LAND CLOSING UPDATE / THROUGH June 15, 2018 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / THROUGH May 25, 2018 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY APARTMENT CLOSING UPDATE THROUGH June 15, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH June 1, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 25, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 18, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 11, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH May 4, 2018, Phoenix Arizona Metro.
8 Reasons You Should Invest in Land
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER 1st QTR 2018 / KASTEN LONG COMMERCIAL GROUP.
DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION
ARIZONA FACTS – YEAR 1848 TO 2013
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
Click here to View My Listings and Profile
Click here to find out what is a CCIM:
Click here to view my website:
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Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
1-520-975-5207
Check out my professional profile and connect with me on LinkedIn.
Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Direct: 520-975-5207
Fax: 602-865-7461
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