WHY THE PHOENIX OFFICE MARKET PAUSED IN Q3

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“A clever man commits no minor blunders.”

 

 

Oct 19, 2016 Dees Stribling, Bisnow, National

The Phoenix office market took something of a pause in absorption and rent growth during the third quarter—but is it a short pause or the beginning of something else?

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“The third quarter represents a bit of slowing in the Phoenix office market,” Colliers International in Greater Phoenix research director Pete O’Neil tells us. “Net absorption slowed a bit, and the pace of rent gains was more modest than in recent quarters, with job growth coming in lower than originally forecast. But the shift is certainly nothing dramatic or alarming.” In its most recent report on the Phoenix office market, Colliers International finds employment growth slowed to an annualized pace of 2.2% by the end of Q3, down from 3.5% a year ago. Even so, companies are still expanding, and, while absorption did slow a little, it was still a sizable 930k SF for the quarter.
Developers delivered about 470k SF of new office space to the market during the third quarter, according to Colliers. More than 1.8M SF is under construction, with about 1M SF of that being spec space. Average rent was up 5% year-over-year. Pete remains optimistic about next year. “We still think there is sufficient momentum in the market to close 2016 on a solid note,” he says. “We’re still forecasting additional improvement in fundamentals in 2017, even though the third quarter was a bit of a slowdown.”

 

Read more at: https://www.bisnow.com/phoenix/news/office/why-the-phoenix-office-market-paused-in-3q-66573?utm_source=CopyShare&utm_medium=Browser

 

 

FROM ME:

Are you ready to sell your Commercial Building in Phoenix  –  Maricopa County , please call me.

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I am actively looking to build relationships with Real Estate Investors and Owner Users  for  multi-family, office, retail, industrial and land in Phoenix- Scottsdale-Tucson-Arizona.

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Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

http://walter-unger.com/why-phoenix-2/

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Phoenix Commercial Real Estate and Investment Real Estate: investors and Owner / Users need to really know the market today before making a move in Commercial Properties or Investment Properties in Phoenix / Tucson / 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 in Phoenix / Tucson / Arizona.  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 international.  Click here to find out what is a CCIM:  https://en.wikipedia.org/wiki/CCIM

 

 

Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience  

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Click here to find out what is a CCIM:

https://en.wikipedia.org/wiki/CCIM

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Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974

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Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status

http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2

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

2016 Official Arizona Visitors Guide

Visit Arizona

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

http://walter-unger.com/why-phoenix-2/

 

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Timeline of Phoenix, Arizona history

 

http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

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Phoenix, Arizona

 

http://en.wikipedia.org/wiki/Phoenix,_Arizona

 

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Facts of Arizona – year 1848 to 2013

http://walter-unger.com/?p=9507

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.

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walterunger@ccim.net

1-520-975-5207

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  1. Interactive Map Of All 10+ Unit Apartment Listings in Metro Phoenix

http://www.easymapmaker.com/map/28cb3b8b3206c377a6f282d980dc7974

 

  1. Interactive  Metro Phoenix Map of New Apartment Construction by Completion Status

http://www.easymapmaker.com/map/955edc17e00b08ce270fb7afb1523cc2

 

 

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). 

Click here for Map of Apartments for Sale (10+units)

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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. 

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Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207

 

www.Walter-Unger.com

 

Walter Unger CCIM

Senior Associate Broker 

Kasten Long Commercial Group

2821 E. Camelback Rd. Suite 600

Phoenix , AZ 85016

Direct:    520-975-5207   

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