E-Zine for the Week Ending May 1, 2018

Back By Popular Demand - A Meeting just for Owners of Small to Mid-size Apartments Some of the Topics – What’s on YOUR mind? How the Apt. Market is Changing Tips to Maximizing Cash Flow and Value Proven techniques to Improve Operations New Laws You Need to Know How to motivate your management company Expect a Fun and Informative Town-Hall style meeting – Please bring questions and we’ll appreciate your input Food and drinks provided by Duck and Decanter Date: June 6, 2018 Location: Copenhagen 1701 E Camelback Rd. Phoenix, AZ 85018 Time: 6pm - 7:30pm

Register Here!

Mothers Day - Reminder! Remember that Karin has been a faithful sponsor of our KLCG-AMA events by providing exceptional floral arrangements. Click Here for More Info

Is Phoenix becoming Wall Street West? More financial services and financial technology workers were hired in the Valley than anywhere else in the U.S. in 2017. The U.S. Bureau of Labor Statistics says more than 127,000 Phoenix metro workers were hired by financial and insurance services. That’s more than Dallas, the leading metro for employment in the sector, and more than Wall Street. In fact, Phoenix area hiring is on a pace by 2020 to claim more financial service workers in the Valley than on Wall Street. “These are well-paying jobs,” said Christine Mackay, director of Phoenix Community and Economic Development. “The average wage for financial service and financial technology workers is over $61,000 annually.”

Why spec projects are back in the pipeline across Phoenix More than 1.5 million square feet of speculative office space is underway across Phoenix — nearly double that from a year ago, according to a new report by Colliers International Group Inc. (Nasdaq: CIGI) The pipeline is filling with more than 2.8 million square feet of spec and build-to-suit office space under construction, with 2.2 million scheduled to be completed during 2018, according to Colliers’ first-quarter report. This comes as vacancy dropped to 15.5 percent across the Phoenix metro area, representing a drop of 30 basis points during the first quarter. This level is now the lowest rate in nearly a decade. Pete O’Neil , research director for Colliers International in Phoenix, said vacancy rates have reached a point where developers now feel more comfortable building spec office space.

EXCLUSIVE: Why ASU’s Michael Crow and GCU’s Brian Mueller are forging a new relationship Now that  Grand Canyon University  is spinning off as a nonprofit from its publicly traded parent Grand Canyon Education Inc., its popularity is shooting toward the heavens. Even Arizona State University President  Michael Crow  has changed his mind about the rapidly growing private Christian college. “We think it’s great GCU is moving in this new not-for-profit trajectory,” Crow said, adding that the  Higher Learning Commission’s approval to return GCU to its original nonprofit status  is exciting.

16,731 Units Under Construction In addition to the 16,731 units currently under construction, there are 11,100 planned and 12,727 units noted as Prospective. That's a total of 40,560 units.  Email Jim for detailed list of new construction or use the map link above

Map of Apartments Available We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.  CLICK HERE for a detailed list of Apartments Available or use the map link above.

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Q4 Apartment Market Newsletter

Kasten Long Commercial Group Jim Kasten, CCIM - Designated Broker 602 445 4113 Office 602 677 0655 Cell www.KLCommercialGroup.com