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Where is Phoenix Commercial Real Estate Headed: Retail Follows Rooftops Right?

September 27, 2010

The old adage, retail follows rooftops, or commercial follows residential usually holds true. In early 2007 when we saw homes starting to free fall in Phoenix, I put up my Commercial Properties for Sale, sold them quickly for top dollar. Knock on wood, best thing I ever did. I thought we would have a 10-15% [...]

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Recession Has Ended – In Phoenix AZ Too?

September 23, 2010

According to the National Bureau of Economic Research the great recession is officially over. Some of you may say, what?! It does make sense though, compare today vs 18 or 24 months ago. It’s much better. Tenants of Phoenix Commercial Real Estate are definitely not acting like good times are back and landlords definitely aren’t [...]

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Phoenix Commercial Real Estate Musical Chairs (Part 2)

September 9, 2010

As mentioned in yesterday’s blog, the Phoenix Commercial Real Estate market is playing a game of musical chairs. We have a lot of money ($200 billion) chasing limited ($150 billion) distressed property nation wide. It’s worse in Phoenix as it’s historically been a high growth city. We believe there is twice as much money looking [...]

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Musical Chairs in Distressed Phoenix Commercial Real Estate

September 8, 2010

Currently there is 200 billion dollars of investment money chasing 150 billion dollars of Commercial Distressed Property according to CoStar Group. This is a national number. That means that 1 in 4 will be left without a chair (property) when the music stops. In this downturn Metro Phoenix Arizona was identified by the CoStar Group as [...]

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Where is the Multi-Family Real Estate Market Headed?

August 17, 2010

Where is the Multi-Family Real Estate market headed? We are seeing economic incentives start to slowly head in the opposite way. Though Phoenix leads the nation in economic incentives, we do appear to have bottomed in that area. With vacancies over 20% in some areas, economic vacancies on top of that close to 20%, and [...]

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Metro Phoenix Leads Nation in Commercial Mortgage Backed Securities Defaults

August 11, 2010

The metro Phoenix Commercial Real Estate market leads the nation in commercial mortgage backed securities defaults. At least we are leading the nation in something right? If we include running minorities out of town, we are probably leading in 2 categories. Both of which are embarassing. Trepp LLC a NY based research firm gave us the “honor” of leading [...]

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Phoenix Multi Family Market Appears to be at 7 O’Clock

July 24, 2010

The Phoenix Multi Family market appears to be at 7  O’clock. There are a lot of positive signs that the market has more than bottomed for Multi Family, locally and nationally. Phoenix Office Space, retail and commercial have a ways to go locally. The question is, is  it truly the bottom or a false bottom for multifamily? There [...]

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Where is the Phoenix Commercial Real Estate Market Headed?

June 24, 2010

Where is the Phoenix Commercial Real Estate market headed? Depending on whom you speak to some investors believe its the bottom (see Sam Zell), but many investors believe the current “outlook” can be only called grim and believe the owners of about to reset CRE are still “high on hopeium,” going through “delay and pray, [...]

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A Billion Reasons to Invest in Metro Phoenix Commercial Real Estate

June 22, 2010

There are a billion reasons to invest in Phoenix Commercial Real Estate. Billionaire Paul Allen, co-founder of Microsoft fame, purchased the 8 story Tempe Gateway via his real estate arm Vulcan, Inc. The office building is vacant and was built by Opus West Corp which went into Chapter 11 last year. Allen obviously felt the [...]

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Cost Segregation: You HAVE to Do This!!!

June 17, 2010

Commercial Real Estate Cost Segregation allows a commercial property held for profit making purposes to be partially depreciated as personal property. So, rather than a 39.5 year straight line depreciation one can do it on a 5, 7 or 15 year basis. This can help considerably with the bottom line. In times like today, even [...]

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Phoenix Commercial Market: Extend and Pretend Continues

June 11, 2010

The Phoenix Commercial Market extend and pretend continues. It’s been going on for quite a while. That is, the Banks keep extending out Commerical Foreclosures and pretending the macro or micro environment for that property, or all their properties will somehow magically heal themselves. I can understand the “need to stay solvent” for the smaller community [...]

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Phoenix Multi Family Trends

May 13, 2010

Phoenix Multi Family Vacancy Rates Remain High, Rents Fall, Concessions at Record Levels. 4th Quarter Trends: West Central Phoenix $563, Central Black Canyon $576, South Paradise Valley $601, Metro Center $630, Glendale $644. North Scottsdale $903 in 4th quarter of 09 (down from $963 in 08, and $1023 in 07, $1031 in 1st Qtr 07, [...]

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Phoenix Commercial Foreclosure Deal of the Day

April 15, 2010

Today’s Phoenix Commercial Real Estate Foreclosure deal of the day is the Ahwatukee Professional Plaza Office Condominiums. This 5,652 square-foot office condo was built in 2006 and is priced at $735,000. That is ONLY $130 per square-foot. This fully finished office condo includes 20 private offices, a conference room, kitchen and reception room. It is [...]

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