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. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value. Phone: 480-948-5554 Prefer cell: 520-975-5207 or email me walterunger@ccim.net.
CLICK HERE TO VIEW ALL MY 60 MIL WORTH OF LISTINGS.
History of Arizona from 900 BC – 2017 -Timeline.
REAL ESTATE | 10/6/2020 | STEVE BURKS
The long, hot summer of 2020 just added to the misery index in Arizona. The state has managed to still move forward with many new developments, and the pace of building has remained steady. There are signs all around the Phoenix market that this COVID-19 induced economic downturn will be a short-lived one when compared with what occurred in Arizona just over 10 years ago.
Leading that recovery will likely be the industrial and office markets. As companies return to normal operations in the post-COVID era, there are indications that more space will be needed for office workers, not less, which could create opportunities for office developers. Industrial developers never really stopped launching new projects, even in the midst of a historic pandemic, and there are still companies actively looking to move and build new operations centers in Arizona.
AZRE Magazine posed questions to a roundtable of NAIOP Arizona members, looking for their thoughts on the market, how it will look coming out of the pandemic and where the real estate opportunities are for those ready to take the lead in our economic recovery.
DF: Derek Flottum, Vice President of Development, Irgens
JWe: Jim Wentworth, Principal, Wentworth Property Company
JWo: Jeremy Womack, Senior Managing Director, Capital Markets, JLL
KM: Kate Morris, Senior Vice President, Healthcare Services, Transwestern
DP: Darren Pitts, Executive Vice President, Velocity Retail Group, LLC
CR: Candace Rosauro, Director of Business Development, Layton Construction
AZRE: What do you think the economic recovery will look like, and how long will it take? What sectors do you expect to recover first, and which will lag?
DP: We expect the remainder of 2020 to have continued overall uncertainty. We are still in the thick of COVID-19, civil unrest, and an election year — which all mix together to create a level of uncertainty for many corporate decision-makers. In 2021, we are anticipating more stability. This will be fueled by the hope that a vaccine for the virus gets closer to the finish line. As far as our commercial sectors are concerned, industrial and multi-family sectors, which have experienced very little slow down during the COVID shut-down will remain the strongest coming into 2021. Single-family residential is also maintaining a strong performance in Arizona as the lack of resale inventory is driving new home sales even higher. Through April, new housing permits were up 24 percent on a year-over-year basis. Office will be looking for innovation to help pave the way as office occupiers find their business models shifting with many employees working remote part time and full time. For retailers, we will continue to see more consolidations of concepts, as well as opportunities which focus on drive-thru models to expand.
JWo: The U.S. economic recovery will remain disjointed in nature with starts and stops until a meaningful COVID-19 vaccine and therapeutics are developed and distributed widely.
Unfortunately, there will continue to be market winners and losers along the way. Medical, healthcare, food and beverage, re-shored manufacturing, e-commerce, third-party logistics and other “essential” industries will sustain or flourish while non-business travel, crowd-centric public activities and related events will remain challenged.
KM: Once a vaccine is in place, we expect pent up demand for health services and surgeries to keep providers busy until the backlog is caught up, estimated at 9–12 months.
CR: I think the recovery speed will be in phases, but will also depend on how long the shutdown lasts. From a construction standpoint, recovery will lag similar to what happened after the Great Recession. The market segments we expect to recover more quickly include data centers, due to the increase of employees working from home, as well as distribution centers such as “last-mile” facilities. The sectors that will lag are those that are dependent on tourism, such as hospitality, retail, and entertainment.
JWe: I think industrial, self-storage and medical will be more recession resistant this downturn. Office and retail will lag by a year or more due to the amount of vacancy and timeline for normal behavior to recover. Unfortunately, a vaccine will dictate the timeline for recovery and when people will feel comfortable getting back to normal.
I think the recovery will take time with starts and stops as we have seen with the COVID response. Despite our current trends related to the virus, I believe over the long run the United States will remain the most attractive international location to invest capital. Nationally, I think there will be geographic winners and losers. Markets that are conducive to lower density, affordable living and quality of life will experience an expansion following the inflow of workforce capital, while some of the more traditional dense urban markets will experience a contraction.
The US economy is largely built on consumers. And it is consumers who have the most immediate impact on the retail and hospitality markets. These sectors have carried a lot of the burden over the past six months and will take time to recover. I think other sectors that provide goods and services to those markets will lag but still experience the effect of that slowdown. If consumers are not pushing dollars though the economy because of job loss, fear of job loss, or inflation, it could have a precipitous effect on the timing and flow of our recovery.
AZRE: How would you compare our Metro Phoenix commercial real estate market to other major markets throughout the nation, and specifically the Western U.S.?
FROM ME: Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. 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 your needs. I am marketing my listings on Costar, Loop-net, CCIM, CREXi, Catylist, and various other web sites. 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. Click here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
CLICK HERE TO VIEW ALL MY 60 MIL WORTH OF LISTINGS.
https://www.crexi.com/properties?searchBrokerId=17513
http://walter-unger.com/gold-canyon-resort-sells-for-29-4m/
Walter Unger CCIM
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
History of Arizona from 900 BC – 2017 -Timeline.
History of Arizona from 900 BC – 2017 -Timeline.
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”
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
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
Associate Broker
West USA Commercial Division
7077 E MARILYN RD.
Suite 200, Building 4.
Scottsdale AZ, 85254
Phone: 480-948-5554
Cell: 520-975-5207
FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME
CLICK HERE TO VIEW ALL MY 60 MIL WORTH OF LISTINGS.
https://www.crexi.com/properties?searchBrokerId=17513
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.
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.
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
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