“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 “ AND “The major fortunes in America have been made in land.”- John D. Rockefeller. 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 firstname.lastname@example.org. …. VIEW ALL OF WALTERS LISTINGS
THEKASTEN LONG COMMERCIAL GROUP, An independent, locally-owned, commercial brokerage – since 1998. Experienced professional specialists with a strong “Client First” dedication. SERVICES: Apartments and land brokerage, office, retail & industrial brokerage and leasing.
The KASTEN LONG COMMERCIAL GROUP (KLCG) has focused on apartment brokerage and research in metro Phoenix since 1998. Our agents have brokered more than 1,000 communities with gross sales more than 1 billion dollars. The market research includes: weekly updates on apartment sales, in-depth quarterly apartment newsletters, tracking vacancy/rental rates/concessions by each submarket, and compiling updated data on all current, planned and prospective new apartments. Our agent’s knowledge, negotiating/escrow expertise and “client first” dedication equates to the best service possible for all apartment owners and buyers.
KLCG-AMA 1 st Exclusive Apt. Owner Mtg. As part of our partnership with the Arizona Multihousing Association (AMA), we will hold our first meeting exclusively for owners of small to mid-size apartments on Wednesday evening, June 6. This casual meeting will have a wealth of information on almost every aspect of apartment ownership including operations, management, and investment strategy. Many of the individuals that we recommend as a resource for apartment owners have agreed to attend – see https://klcg-ama.com/for their contact information and details about the meeting. To register: KLCG-AMA.com/reg. https://klcg-ama.com/event/town-hall-style-meeting-for-owners-of-small-to-mid-size-apartments/
New Apt. Construction Strong for 2018 As of 5.3.2018 there were 16,168 units under construction in 59 projects, 13,984 units planned and 13,741 units prospective. There have been 2,350 units in 12 projects completed this year with a total for 2018 projected to be 9,525 in 44 projects. The forecast for 2019, however, is only 7,847 units in 24 projects. Site availability, tougher financing requirements plus increasing land and labor costs are keeping new construction at a sustainable level. Specific details available upon request
Rents Increasing – Vacancy Minimal Over the past three years, rental rates for “A”, “B” and “C” class properties have increased 20%, 29%, and 30% respectively for apt’s with 50 or more units. Even the “B” and “C” communities with no modifications have experienced strong rent growth. This is simply due to no new supply and increased demand from our strong population growth. The newly constructed apartment rents are still increasing, but modestly due to local competition. Occupancy rates for “A” and “B” properties have hovered between 94.5% to 95.5% over the past three years with both currently at 95%. “C” class properties have jumped from 92.5% three years ago to a current high of 95.5%. The overall occupancy for metro Phoenix is 95.0% (5.0% vacancy).
On a weekly basis via e-mail we provide:
- Details of Recent Apartment sales
- Metro Phoenix Commercial News
- All apartments currently being
marketed for sale – principals only
New – Interactive Map Available
If interested and you’re not already on our
email distribution list, just let us know.
Click here for Q1 2018 KLCG Apt. Owner’s Newsletter
The Metro Phoenix Apartment Market (Q1 2018)
In the 1st quarter of 2018, there were 66 regular apt. sales with 10 or more units. Since 2012, the number of 1 st quarter apartment sales ranged between 53 and 87, the most being in 2016. Last year there were 65 Q1 sales with a total gross sales volume of $417.4 million ($73,996/unit), the highest to-date. The total gross sales volume in Q1 2018 with 66 sold apartment complexes was $1,047.7 million ($134,074/unit) – 2.5 times the previous high total gross sales volume. I understand that the numbers may not be exactly apples to apples – but the huge increase still makes a strong point for caution! Apartment Market Pulse
“Over the last two months, my associates and I have noticed a push-back from buyers paying the offering price. In January we were talking about buyers having to pay a premium just to get into our market. There was very little inventory and over half of the transactions were “off-market”. In the past couple months, however, with commercial interest rates moving up, albeit just slightly so far, we have noticed buyers capping the amount they will pay, especially on those properties priced above market with broker’s very optimistic proforma rents and operating expenses. Even with a continued strong buyer demand, this has resulted in property values leveling and an increase in properties “for sale”. Sellers need to be in tune with this change and either be prepared to see what the future brings, hoping the market continues to rise, or be realistic in pricing now, in case we have reached the top of the apt. market cycle. We may have just slowed to catch our breath as the tremendous increase in rents over the past several years needs to be digested and accepted.” – Linda Fritz-Salazar, Associate Broker, Senior Partner, Kasten Long Commercial Group
Economists – “Blue Sky ahead”
Earlier this year I had the opportunity to attend presentations by two highly-respected economists. Both painted a very “Blue Sky” picture for the future of the US economy. This reminded me of similar reports in 2006, then came 2007!!! In January, Dr. Barry Asmus spoke at the IREM-CCIM annual forecast and was very optimistic about the new US tax laws. He considered these even better than President Reagan’s tax reform. Christopher Thornberg, PhD spoke on behalf of Alliance Bank in March. He thought that 2017 had the perfect economics to promote the US economy for the future – citing a solid steady pace of growth. Despite an increase in volatility in early 2018, he expects a robust year-end for US growth. For Arizona, the economy looks even stronger mostly due to the strong population growth (1.6%), far above the US (0.7%). Metro Phoenix accounts for almost 70% of the State’s employment and overall economy. Let me know if you would like a copy of Dr. Thornberg’s report.
SAVE THE DATE – Friday, Sept. 14, 2018
We have partnered with American Title Service Agency for our next EVENT. This will be held at SkySong, ASU’s Innovation center, and will focus on the current and planned activities in and around southern Scottsdale that will impact both commercial and residential property values. Confirmed speakers to-date will include Danielle Casey, Dir. of Economic Development – City of Scottsdale, plus speakers from SRP-MIC (Talking Stick) describing their family-oriented new resorts and huge commercial development mostly along Pima Road, and speakers from SkySong describing what SkySong does, the impact for the community and the recent partnership with ASU and GPEC to “Globalize” the SkySong concept. Additional speakers to be announced soon. CE credits possible.
Kasten Long Commercial Group: Scott Trevey, CCIM (480 205 0862), Linda Fritz-Salazar, Assoc. Broker (602 989 9487), Jim Kasten, CCIM (602 677 0655), Jan Long, CCIM (602 434 9882), Arvle Knight, CCIM (602 885 8000), Walter Unger, CCIM (520 975 5207), John Locke (480 432 7179), Jon Coffen (602 653 3600), Chris Norton (480 559 9775), David Flower (303 520 8545) and Adriene Makula, Office Manager (602 445 4112).
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 email@example.com. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
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 firstname.lastname@example.org
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 email@example.com
- 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%).
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.
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 firstname.lastname@example.org 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
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