Phoenix Commercial News

E-Zine for the Week Ending April 26, 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

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

New Multifamily Housing Construction Starts Falls 7-Percent in March According to Dodge Data Report

NEW YORK, NY – New construction starts in March increased 11% from the previous month to a seasonally adjusted annual rate of $785.2 billion, according to Dodge Data & Analytics. The substantial gain followed modest declines in January (down 2%) and February (down 3%), and brings the pace of total construction starts to the highest level over the past six months. The nonbuilding construction sector, comprised of public works and electric utilities/gas plants, soared 73% in March, boosted by the start of several very large projects.

Downtown Phoenix’s 2nd Tallest Residential Tower Underway

Parallel Capital Partners sold a one-acre parcel within Arizona Center to North American Development Group. The company intends to build there a $100 million, 30-story tower. Rendering of Arizona Center’s courtyard North American Development Group has acquired a one-acre parcel within the 16-acre Arizona Center, a mixed-use project that Parallel Capital Partners owns. The site will house downtown Phoenix’s second tallest residential building, Palm Court Tower. Designed by Will Bruder Architects and Forum Studio, the luxury project will cost approximately $100 million.

This homebuilder makes winning $79M bid for 269-acre parcel in northeast Phoenix

Homebuilder D.R. Horton (NYSE: DHI) scooped up 269 acres of state trust land in northeast Phoenix this week, bidding $79 million for the parcel in a recent public auction, the Arizona State Land Department announced Wednesday.

The land is near Desert Ridge Marketplace in northeast Phoenix, east of 56th Street and north of Deer Valley Parkway. The land’s total appraised value was $54 million, according to the land department. The sale included 269 acres, as well as 36 acres of right of way for public road and underground utilities. The homebuilder will contribute another $19 million for flood control improvements in the Rawhide Wash near the land.

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.

KLCG Property Listings

Q4 Apartment Market Newsletter

Kasten Long Commercial Group

Jim Kasten, CCIM - Designated Broker

602 445 4113 Office 602 677 0655 Cell