Phoenix industrial market continues surge in Q1

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 / Prefer cell: 520-975-5207
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In Business and in Life you don’t get what you deserve, you get what you Negotiate.

LOOKING FOR SELLERS AND BUYERS Land – Industrial – Retail – Office- Multifamily

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REAL ESTATE | 13 Apr | AZRE

The Phoenix industrial market continued to surge in the first quarter, according to a report from Kidder Mathews.

Market highlights:

• Average sale prices climbed to a new record high of $139/SF

• Construction soared to an all-time high with approx. 16M SF currently underway

• Rental rates hit a post-recession record high at $0.65 PSF NNN


READ ALSOAmazon lifts Phoenix industrial market to best year ever in 2020


MARKET DRIVERS

• The COVID-19 pandemic has accelerated e-commerce trends that have fueled demand for warehouse and distribution space in the Phoenix market. Amazon has been aggressively expanding in Phoenix the past year, signing 11 leases last year alone that range from smaller last-mile fulfillment centers to large-scale distribution facilities.

• After a record-breaking level of supply last year of approximately 18M SF, the construction pipeline is still booming with over 16M SF of space underway at the end of the first quarter. Much of the new supply is in the Southwest Valley, as the region’s proximity to California and relative affordability has fueled demand for manufacturing and distribution space. Recent infrastructure improvements, such as the expansions of Loop 202 and Loop 303, have helped with the traffic flow into the area and contributed to increased population growth in the communities.

• Average asking rental rates soared to a record high of $0.65/SF on a triple-net basis. Rent growth in Phoenix has recently outpaced the national average but despite the steady increase, the market maintains its position as an affordable market when compared to the nearby major regions in California.

• Investors remain bullish on the Phoenix industrial market and continue to seek out quality assets. Local buyers are competing against many out-of-state and institutional investors, who are behind some of the largest deals in Phoenix. Buyer competition has put an upward pressure on pricing as sales prices averaged an all-time high of $139/SF in the first quarter. 

ECONOMIC OVERVIEW

• Phoenix bounced back quicker than many other metro areas and has maintained its place among the best-performing markets for job growth. The rise in remote work will attract more people to look to Phoenix as an affordable option to California and will ultimately stimulate economic growth.

• According to the Arizona Labor of Statistics Office of Economic Opportunity, Phoenix metro’s unemployment rate in January increased 1 basis point month-over-month to 6.7%. This is compared to the state’s rate of 7%. Phoenix lost about 240,000 jobs in the start of the pandemic, but the sharp job losses were temporary with about 60% of those job losses recovered.

NEAR TERM OUTLOOK

• The Phoenix Industrial market’s record level performance in 2020 carried into the first quarter of 2021 and will continue into the remainder of the year. Demand will stay strong for not only last-mile and e-commerce users, but also for data centers and manufacturing.

• The market is experiencing a surge in development and new projects will continue to break ground and come online. Developers are highly attracted to the Phoenix industrial market because of relatively few development barriers, strong demand, and a thriving local economy which will continue into the near future.

SEE IT ALL:   https://azbigmedia.com/real-estate/phoenix-industrial-market-continues-surge-in-q1/

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

In Business and in Life you don’t get what you deserve, you get what you Negotiate.

LOOKING FOR SELLERS AND BUYERS Land – Industrial – Retail – Office – Multifamily

contact me if you want the me to get you the value of your property.

CCIM DEAL MAKERS    FALL 2020   THE BIGGEST DEAL   WALTER UNGER, CCIM, WITH WEST USA COMMERCIAL DIVISION IN PHOENIX REPRESENTED GCG HOLDINGS LLC IN ITS $29.43 MILLION SALE OF GOLD CANYON GOLF RESORT AND SPA IN GOLD CANYON, ARIZ., TO GOLD CANYON MJ LLC.

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

CCIM DEAL MAKERS    FALL 2020   THE BIGGEST DEAL  / WALTER UNGER, CCIM, WITH WEST USA COMMERCIAL DIVISION IN PHOENIX REPRESENTED GCG HOLDINGS LLC IN ITS $29.43 MILLION SALE OF GOLD CANYON GOLF RESORT TO GOLD CANYON MJ LLC.

Click here to find out what is a   CCIM:

 CLICK HERE TO VIEW ALL MY LISTINGS. 

PRESS RELEASE: Gold Canyon resort sells for $29.4M. Walter Unger CCIM from West USA Commercial Division Brokered the Transaction.

http://walter-unger.com/gold-canyon-resort-sells-for-29-4m/

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

What is a CCIM.

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

walterunger@ccim.net

History of Arizona from  900 BC – 2017 -Timeline.

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

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”

CLICK HERE TO VIEW MY WEBSITE

  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

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

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

walterunger@ccim.net

What is a CCIM.

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 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.    

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  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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