“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
REAL ESTATE | 17 Oct | AZRE
Greater Phoenix posted a very strong third quarter in the retail real estate sector, with highest net absorption in several years and vacancy dropping to its lowest level in nearly a decade. Access the full report by Colliers International in Greater Phoenix by clicking Here.
Net absorption during third quarter 2017 totaled more than 680,000 square feet, marking the strongest quarter in four years. This brings the year-to-date net absorption figure to more than 1.6 million square feet and Colliers anticipates the year will finish on pace with more than two million square feet of retail net absorption in Greater Phoenix. After holding steady during the first half, vacancy dipped this past three months to 8.9 percent. This is the lowest vacancy rate in eight years. Home furnishing stores have stimulated net absorption in the market. American Freight has committed to its first four stores in Arizona this year. The growth of home furnishing retailers is a good signal of a stronger housing industry and growing population.
Asking rental rates dropped slightly in third quarter, but are generally higher than previous quarters in recent history. Asking rental rates are up 3.2 percent to $14.53 per square foot for the past 12 months. Scottsdale continues to post some of the strongest rental rates. North Scottsdale rates have risen more than six percent this year and are approaching $20 per square foot.
Sales of shopping centers slowed by 40 percent during the third quarter. While sales activity cooled, the median price rose more than 20 percent last quarter to $146 per square foot. The bulk of properties sold during third quarter were $10 million and less. Median price for retail centers sold in all of 2017 is $118 per square foot, which mirrors the level in 2016. Cap rates have averaged 7.5 percent this year, up 50 basis points from the 2016 average.
As 2018 approaches, retail experts will keep a close eye on struggling retailers that might close underperforming stores after the busy holiday season. Toys R Us, which has already announced its bankruptcy, has 10 sizable locations in Greater Phoenix totaling more than 250,000 square feet.
The outlook remains good for Greater Phoenix and its retail market. The city is one of the nation’s leading areas for employment and population growth, which fuels retail activity. Fourth quarter tends to be the strongest in the retail real estate sector, so the city should finish 2017 in great shape.
SEE IT ALL: https://azbigmedia.com/phoenix-retail-vacancy-lowest-8-years/
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
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
Timeline of Arizona from 900 BC – 2017
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
Apartments: Construction, Planned, Prospective
Interactive Map :: 10+ Unit Apartments For Sale Greater Phoenix AZ
WEEKLY APARTMENT CLOSING UPDATE THROUGH October 13, 2017 / Phoenix Arizona Metro cc
WEEKLY APARTMENT CLOSING UPDATE THROUGH September 29, 2017 / Phoenix Arizona Metro. cc
WEEKLY APARTMENT CLOSING UPDATE THROUGH September 22, 2017 / Phoenix Arizona Metro.cc
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
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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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