“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.
Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
By Brandon Brown – Reporter, Phoenix Business Journal
Mall owner Macerich releases sales data in quarterly earnings report
Heading into the holiday shopping season, many of Phoenix’s top malls are doing better than they were a year ago, thanks to fewer retail bankruptcies.
In its recently released third quarter financials report, The Macerich Co. (NYSE: MAC) published how its top malls and shopping centers did during the three-month period ending in September.
Macerich owns and operates a number of malls and shopping centers in Arizona, including Scottsdale Fashion Square and Arrowhead Towne Center. The company releases sales per square foot and occupancy rate data for its 40 top-performing properties. Eight of those properties are in the Valley.
All of those properties, except for Superstition Springs Center off Power Road and U.S. 60 in Mesa, increased their sales per square foot during the third quarter and through the first nine months of the year, compared to same periods in 2017.
Biltmore Fashion Park was the local Macerich property with the highest sales per square foot for the quarter, with $1,113. That is an increase of nearly 24 percent from the same quarter last year.
Occupancy rates at all of these properties are over 90 percent, which is similar to where they were at last year.
One of the reasons sales per square foot are up this year for Macerich malls is there have been fewer store closures due to bankruptcy.
During the first three quarters of the year, across the country Macerich had 16 stores close due to bankruptcy. That compares to the 92 closures the company had at its malls during that same period last year.
“Bankruptcies and early terminations in 2017 tempered our growth in the first half of 2018, as we work through leasing up that space,” Tom O’Hern, Macerich’s chief financial officer, told investors and analysts on a conference call. “Most of that space has been re-leased by Sept. 30, as is evidenced by our 95 percent occupancy rate.”
Those numbers don’t take into account the effect of Sears Holdings Corp. (OTCMKTS: SHLDQ) closing at three of the Arizona centers because that happened in the fourth quarter. But Macerich executives seem pretty optimisticabout the effect of the Sears’ closures.
“The Sears bankruptcy was long expected and represents a great opportunity for us to improve our high quality portfolio both in terms of tenant quality, sales productivity, traffic and densification,” O’Hern said.
For the quarter, the Santa Monica-based shopping center real estate investment trust posted revenue of $242.2 million, which is down 0.1 percent from the same quarter last year. Its net income grew more than 320 percent year over year to $74 million, or 52 cents per share.
Macerich does not release sales data for one of its local properties, Paradise Valley Mall. The company lists the Phoenix mall as an asset under redevelopment “including demolition and reconfiguration of the [center] and tenant spaces.” No dates or details have been given for its redevelopment plans. SEE IT ALL: https://www.bizjournals.com/phoenix/news/2018/11/05/sales-jump-at-many-phoenix-malls-going-into.html?ana=e_du_prem&s=article_du&ed=2018-11-05&u=lQ2E7queaIzizvtydl7vaENwvei&t=1541462013&j=84847641
“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.
Office / Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
This map has many lawyers. It was created by the ACA. Just in case you don’t know of it already.
History of Arizona from 900 BC – 2017 -Timeline.
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 – Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net
“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.
Office: 602-445-4113, Direct : 602-759-1209 , cell: 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
WEEKLY LAND CLOSING UPDATE / THROUGH NOVEMEBER 2, 2018 / Phoenix Arizona Metro, Maricopa County, Pinal County.
APARTMENT CLOSINGS
WEEKLY APARTMENT CLOSING UPDATE THROUGH October 26, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH October 19, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH October 12, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH October 5, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH September 28, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH September 21, 2018, Phoenix Arizona Metro.
WEEKLY APARTMENT CLOSING UPDATE THROUGH September 14, 2018, Phoenix Arizona Metro.
This map has many lawyers. It was created by the ACA. Just in case you don’t know of it already.
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Office: 602-445-4112
Direct: 602-759-1209
Cell: 520-975-5207
Fax: 602-865-7461
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%).
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
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
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Office: 602-445-4112
Direct: 602-759-1209
Cell: 520-975-5207
Fax: 602-865-7461
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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