“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 / COMMERCIAL AND INVESTMENT REAL ESTATE SPECIALIST / LOOKING FOR OWNERS & BUYERS. 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.
By Jessica Morin CoStar Analytics March 12, 2020 | 02:30 A.M.
Industrial construction has reached an all-time high in Phoenix, and more than half of the space is in two submarkets alone — Glendale and Goodyear. About 17.3 million square feet is under construction marketwide, ranking Phoenix sixth among U.S. markets for space underway. An estimated 15 million square feet is expected to deliver by year-end.
Several large-scale industrial projects and build-to-suits have bolstered Glendale’s construction total. About 6.2 million square feet is under development, the most of any Phoenix submarket, representing nearly 57% of Glendale’s existing stock. The rapidly growing population, proximity to California and relative affordability fuels robust tenant demand in the area and has motivated developers. About 44% of the space underway in Glendale is speculative, which is a smaller share compared to the overall market, where 70% of space is available for lease.
In Glendale, three of the four largest industrial buildings under development are build-to-suits for food-and-beverage users. The largest is Mark Anthony Brewing’s 916,000-square-foot brewery and distribution center near Loop 303 and Olive Avenue. The project has an aggressive construction timeline of seven months, which the company cited as a primary reason for selecting Glendale. Slightly north, construction is underway on a 700,000-square-foot manufacturing facility for Red Bull, Ball Corporation and Rauch Fruit Juices. Developers broke ground on the site in December, and the project is slated for completion in the first quarter of 2021. Another 644,000-square-foot distribution center is underway for a candy manufacturer, Ferrero USA Inc. Additionally, Coca-Cola is doubling its existing sales and distribution center, adding 156,000 square feet and Fairlife, a dairy distributor, is building a 280,000-square-foot production facility in the submarket.
More than half of the space underway in the Phoenix metropolitan area is concentrated in Glendale and Goodyear.
In addition to manufacturing, the area has become increasingly attractive to data center operators, in part due to Phoenix’s stable climate, low risk of natural disasters and reliable energy suppliers. Microsoft has three projects underway in the Glendale and Goodyear submarkets, totaling just under 1 million square feet.
Significant construction will put some upward pressure on tight vacancies metrowide, especially as demand weakens amid slower global growth and rising disruptions to the supply chain. Vacancies have risen about 40 basis points in the first few months of the year to about 7.3%. According to CoStar analytics, the rate is expected to rise to 8.4% by year-end, which is still considered healthy for Phoenix and below the market’s
SEE IT ALL: https://product.costar.com/home/news/1647505272?market=29
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, PLEASE CALL ME – cell: 520-975-5207 or email me walterunger@ccim.net
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS
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
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS
“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, , cell: 520-975-5207 or email me walterunger@ccim.net.
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%).
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
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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
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
I AM YOUR LAND / INDUSTRIAL AND INVESTMENT SPECIALIST / LOOKING FOR OWNERS
“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.
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
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