Phoenix ranks #2  for lease renewal rent growth with 6.3% renewal rent growth.  Only slightly behind #1 Las Vegas with 6.4 % renewal rent growth.

 

 

 

“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 “   

Please check maps if your Land or Commercial Property is in the Opportunity Zone, IF SO CONTACT ME / THIS IS FOR SELLER’S AND BUYER’S.

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.

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.    

 

REAL ESTATE | 15 May | AZRE

Apartment resident retention is at an all-time high, and renters in some markets are paying a premium to stay put.

In 1st quarter 2019, 53.1% of U.S. apartment renters with expiring leases chose to renew rather than move out. Nationally, the average rent increase in the renewed lease was 4.6%. But several individual markets are seeing increases above 5%.

At the top of the list are No. 1 Las Vegas — with 6.4% renewal rent growth — and No. 2 Phoenix — only slightly behind with 6.3% renewal rent growth. The fact that these two markets are seeing the highest renewal rent growth isn’t necessarily surprisingly, as they also lead for new-lease rent growth.

Las Vegas recorded the nation’s strongest showing in 1st quarter, with renewal rent growth at 6.4%, the biggest increase this market has seen in at least a decade. Renewal conversions also reached a high point in early 2019 at 54.5%, despite such strong rent growth for those staying in their lease. While new-lease rent growth in Las Vegas is also elevated at 8% annually in 1st quarter 2019, prices have grown only 27% in total this cycle, which ranks among the lowest upturns across the largest 50 markets since 2010 and keeps effective rental rates relatively affordable on a national scale.

Renewal rent growth in Phoenix is strong at 6.3%, well ahead of the five-year average. While gains have been strong recently, peak renewal rent growth for this market hit in 2006 at nearly 10%. Renewal conversions have also been steadily increasing and peaked at 50% in 1st quarter 2019. This market was also a new-lease rent growth leader during the current cycle. The 8.1% annual increase in 1st quarter took total rent change over the past nine years to more than 40%. The progress Phoenix has made recently is especially impressive given the heavy volumes of supply received in the current cycle.

At #3 for renewal rent growth is perhaps a surprise  – Virginia Beach. For this market, this is a sizable figure – one that the market has seen for two quarters in a row now. Before that, renewal rent growth was much lower, lingering between 3% and 4% for most of the past decade. Renewal conversions here are also strong at 55.6%, but the climb to that point was more gradual. Success in renewal rates and pricing is significant for Virginia Beach, a slow-growth market with a federal government-based economy and strong competition from single-family homes. New-lease rent growth here only amounted to 2.3% in the past year.

Renewal rent growth near 6% in Raleigh/Durham is about in line with what this market has seen for much of the past seven years. Renewal rates here have seen a slow and steady incline, landing at 51%. While not surprising, given the strong economic footing supporting this market, a national leadership role for Raleigh/Durham is expressly noteworthy, given how much apartment construction activity this area has seen during the current economic cycle.

Charlotte and San Francisco both recorded renewal rent growth of 5.4% in early 2019. Both were among the nation’s top construction markets over the course of the cycle, and both have experienced strong population and employment growth in recent years. Renewal conversion rates in Charlotte are a bit softer than the other markets on this list, at just 49.7%, but renewal rent growth has remained steadily at or above the 5% mark for much of the past three years.

In San Francisco, renewal rent growth has jumped recently, with the recent 5.4% increase up 108 basis points from a year ago. That’s the largest year-over-year increase nationally. At the same time, renewal conversion rates have also been climbing, landing at 55.8% in early 2019.

SEE IT ALL:   https://azbigmedia.com/where-does-phoenix-rank-for-lease-renewal-rent-growth/

 

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

Please check maps if your Land or Commercial Property is in the Opportunity Zone, IF SO CONTACT ME / THIS IS FOR SELLER’S AND BUYER’S.

WEEKLY LAND SALES

WEEKLY LAND CLOSING UPDATE / May 10, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / May 3, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

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 LAND CLOSING UPDATE / THROUGH February 22, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH February 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLSING UPDATE / THROUGH JANUARY 25, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 18, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 11, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY LAND CLOSING UPDATE / THROUGH JANUARY 4, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL SALES              

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH May 10, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH May 3, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH April 26, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH April 12, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH April 5, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 29, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 22, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH March 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 22, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 15, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 8, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH February 1, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH JANUARY 25, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

WEEKLY INDUSTRIAL CLOSING UPDATE / THROUGH JANUARY 18, 2019 / Phoenix Arizona Metro, Maricopa County, Pinal County.

 

WEEKLY APARTMENT SALES

WEEKLY APARTMENT CLOSING UPDATE THROUGH May 10, 2019, Phoenix Arizona Metro.

WEEKLY APARTMENT CLOSING UPDATE THROUGH May 3, 2019, Phoenix Arizona Metro.

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

walterunger@ccim.net

CLICK HERE TO VIEW ALL MY LISTINGS

www.Walter-Unger.com

www.KLCommercialGroup.com

What is a CCIM.

 

 

 “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.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

 

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”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION

ARIZONA FACTS – YEAR 1848 TO 2013

VIEW ALL OF WALTERS LISTINGS

What is a CCIM.

CLICK HERE TO VIEW MY WEBSITE

  • 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

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

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

walterunger@ccim.net

CLICK HERE TO VIEW ALL MY LISTINGS

www.Walter-Unger.com

www.KLCommercialGroup.com

What is a CCIM.

 

“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 “   

Please check maps if your Land or Commercial Property is in the Opportunity Zone, IF SO CONTACT ME / THIS IS FOR SELLER’S AND BUYER’S.

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.

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.

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 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

www.Walter-Unger.com

 

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me.

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