“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 “ I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS Call me if you want to sell your property and need an estimated value. Direct : 602-759-1209, Prefer cell: 520-975-5207 or email me walterunger@ccim.net. A CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS .
Highlights
- New Construction Pipeline: 252 projects – 62,458 units
- Rent Growth and Occupancy Down – but Just a Little
- US Multifamily Market Flattening – Metro Phoenix Remains Strong
- Recession? Next Presidential Election in 12 months
- Impact of Tenant-friendly Laws in Nearby states
Q3 – GREATER PHOENIX APARTMENT NEWS LETTER
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.
New Apt. Const. Strong – More Needed In Q3, there were 10 projects completed with a total of 1,895. As of Oct. 17, 2019, there have been 34 projects completed in metro Phoenix this year with a total of 7,462 units, the majority of the projects being in Phoenix. There are 10 additional projects with 2,235 units scheduled to be completed by year-end. The projection for 2019 is therefore 44 projects to be completed with 9,697 units. There are currently 252 projects in the pipeline with a total of 62,458 units. Under Construction: 58 projects, 15,006 units; Planned: 98 projects, 22,460 units; Prospective: 96 projects, 24,992 units. Of the 58 Under Construction, there are 24 projects in Phoenix (5,470 units) and 10 in Tempe (3,131 units). As noted last quarter, although there are increased costs for materials and labor plus a labor shortage, with the continued strong occupancy, climbing rental rates, strong economy and increasing population, more new apartments can easily be absorbed.
Rent Growth and Occupancy Down a Little After leading the US in rent growth in 2018, Metro Phoenix, rent growth is still strong but slowed a bit in Q3. The trailing four quarters reports the following rental rates increases: discretionary – 4.6%; upper mid-range – 5.2%; lower mid-range – 6.6%, upper workforce – 6.2%; lower workforce – 6.9%. The average for all property types being 6.0%. That’s still very impressive. In comparison to Q2 however, there was a 0.2% drop in rental rates. Vacancy also showed a slight increase to 4.8% compared to 4.5% in Q2. Class “A” reported a vacancy rate of: 5.3%, Mid-range: 4.9% and workforce holding strong at 4.3%. Note the obvious correlation between lower rent growth and higher vacancy in the property types. Both the slight drop in rent growth and increase in vacancy rates is not too significant – but noticeable. For the workforce apartments, many are being repositioned to mid-range, so the supply is decreasing.
Q3 – GREATER PHOENIX APARTMENT NEWS LETTER
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, 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 international 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 en.wikipedia.org/wiki/CCIM I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS PLEASE CALL ME – Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net
WEEKLY LAND SALES
“The major fortunes in America have been made in land.” John D. Rockefeller
AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS
WEEKLY INDUSTRIAL SALES:
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS
WEEKLY APARTMENT SALES
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS CLICK HERE TO VIEW ALL MY $ 60 MIL OF LISTINGS
CLICK HERE FOR APARTMENTS FOR SALE:
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.