“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 “
Also Call me if you need an estimated value of your Property. Direct : 602-759-1209, Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
The KASTEN LONG COMMERCIAL GROUP (KLCG) has focused on apartment brokerage and market research in metro Phoenix since 1998. Our agents have brokered more than 1,000 communities. The market research includes: weekly updates on apartment sales, in-depth quarterly apartment newsletters, tracking vacancy/rental rates/concessions by each submarket, and tracking all new apartment construction.
As you know, we also offer brokerage service for all commercial real estate disciplines. We are expanding and seeking agents with the knowledge and experience to provide the absolute best service in the Valley with the highest “Client First” dedication.
Click here for: GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER – 1st QTR 2019.
How to Find Apartment Opportunities
This was the focus of our last Town Hall Meeting. If you are doing your own legwork to find an owner willing to sell, it’s essential to have good databases. We had representatives from each at the meeting. CoStar offers info on all commercial property types plus info on each sale comp. For apartments they go down to smaller unit sizes–often less than 20 units. CoStar and their other company, LoopNet, list properties “for sale.” Trepp offers info on larger properties (including financials) with a searchable database of when government loans are in trouble or expiring. Yardi Matrix covers bigger buildings (50 units or more). Their website is very user-friendly with in-depth market and property info. Vizzda provides data on all commercial property sales and reports the basic public info the day after a sale is recorded (often with ownership contact info). Access to all these databases is fee-based and costs money. American Title (ATSA) not only provides great title service but also provides investors free searches using county information to help locate smaller sized apartment opportunities. If you are doing your own searching, some of these databases/companies would be essential-OR call us. We have these databases and the insight on how to maximize their value!
As reported by the Kasten Long Commercial Group’s Q1 2019 Metro Phoenix Apartment Owner’s Newsletter
Sales Volume Strong and the Economy – WOW
Sales volume was strong in the 1st quarter of 2019. There were 70 individual apartment transactions with 10 or more units, plus 25 additional that were part of portfolio sales. Of the 70 individual sales, only 5 paid “all cash.” “Flips” (properties held less than 3 years) accounted for 33% of the transactions and 19% had at least one side with a 1031 leg.
In 2018, Maricopa County (essentially metro Phoenix) was the fastest growing county in the US. We also had the highest apartment rent growth for a metropolitan area in the US – just over 8%. While the reported increase in population for 2018 was about 81,000, this number may be substantially higher due to persons entering our area and not being counted because they did not establish a mailing address. The media is reporting at least 100,000 persons crossed into AZ from Mexico last year. Since metro Phoenix represents +85% of the state’s economy, it seems logical that a good portion of these persons are now living here–and not being counted.
Across the entire US, the apartment industry is strong–well sort of. Metro Phoenix is similar to many states in that occupancy is strong and rents are increasing. With the increase comes a shortage of affordable housing. Here’s a headline that should get your attention: “A Rent Control Comeback Is Breathing Down The Neck Of The Apartment Industry” (BizNow, April 23, 2019). While laws in the west coast states are imposing rental limits and restrictions on landlords, Arizona has not faced these–yet.
As reported by the Kasten Long Commercial Group’s Q1 2019 Metro Phoenix Apartment Owner’s Newsletter
2019 New Apt. Construction Still Strong
In Q1 2019, there were 10 projects completed with a total of 2,521 units. Six of these were in Phoenix, three in the West Valley and one in Chandler. Also during Q1, four projects were started with a total of 887 units (2 in Phoenix, one in Mesa and one in Glendale). As of 4.13.19 there were 75 projects Under Construction with 13,894 units, 90 Planned with 21,672 units and 92 Prospective with 21,545 units. Almost half of the projects under construction are in Phoenix (22 with 5,049 units) and Tempe (10 with 2,551 units). The total number of units in the pipeline is 57,111. That’s 4,190 units more than at the beginning of this year (52,921). Although there are increased costs for materials and labor plus a labor shortage, with the continued strong occupancy and climbing rental rates, developers’ bottom lines still warrant more apartment projects.
As reported by the Kasten Long Commercial Group’s Q1 2019 Metro Phoenix Apartment Owner’s Newsletter
Highest Rent Growth in the US in 2018
In 2018, Metro Phoenix surpassed Sacramento for the highest rent growth in the US-reaching just over 8%. For all class apartments, occupancy remains strong, ranging from 94.6% to 95.3%. The continued strong population growth and lack of supply continues to drive rents higher. The average rental rate in Q1 increased 1.8% for Class “A,” 1.2% for Class “B” and 1.2% for Class “C” apartments. That’s still strong for just three months!
As reported by the Kasten Long Commercial Group’s Q1 2019 Metro Phoenix Apartment Owner’s Newsletter
Click here for: GREATER PHOENIX APARTMENT OWNER’S NEWSLETTER – 1st QTR 2019.
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 – Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net CLICK HERE TO VIEW ALL MY LISTINGS
WEEKLY LAND SALES
WEEKLY LAND CLOSING UPDATE / APRIL 26, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / APRIL 19, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / APRIL 12, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / APRIL 5, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / MARCH 29, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / MARCH 22, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / MARCH 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / MARCH 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY LAND CLOSING UPDATE / MARCH 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.
WEEKLY INDUSTRIAL SALES
WEEKLY APARTMENT SALES
WEEKLY APARTMENT CLOSING UPDATE THROUGH April 26, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH April 12, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH April 5, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH March 29, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH March 15, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH March 8, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH March 1, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH February 8, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH February 1, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH January 25, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH January 18, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH January 11, 2019, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH January 4, 2019, Phoenix Arizona Metro.
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
CELL: 520-975-5207
Direct: 602-759-1209
Office: 602-445-4112
Fax: 602-865-7461
CLICK HERE TO VIEW ALL MY LISTINGS
“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 INDUSTRIAL / OFFICE OR RETAIL BUILDING OR YOUR LAND in Phoenix, Maricopa County and Pinal County, Arizona, please call me. Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net. … CLICK HERE TO VIEW ALL MY LISTINGS.
Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
History of Arizona from 900 BC – 2017 -Timeline.
8 Reasons You Should Invest in Land
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
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:
Click her to join my mailing list :
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.
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Direct: 602-759-1209
CELL: 520-975-5207
Office: 602-445-4112
Fax: 602-865-7461
CLICK HERE TO VIEW ALL MY LISTINGS
“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 “
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Direct : 602-759-1209, Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
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
Reasons to Consider me for Commercial Referrals
Delivering the New Standard of Excellence in Commercial Real Estate
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The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.