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Phoenix Commercial
Properties - Phoenix Metro Area
RE/MAX Desert
Showcase Commercial Real Estate Serving the entire Phoenix Metro Area.
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RE/MAX
Desert Showcase Commercial professionals will help
to
successfully purchase or sell commercial investment
properties such as:
- APARTMENT BUILDINGS
that range from low-rise, one-story buildings to
high-rise, upscale developments
- RETAIL PROPERTIES
for individual retail and services businesses, strip
centers or large shopping centers
- OFFICE BUILDINGS
ranging from single story to multi-story, high-rise
buildings
- HOTELS AND MOTELS
ranging from country inns to multi-story,
multi-unit, upscale properties
- INDUSTRIAL PROPERTIES
for manufacturing, warehousing and distribution
centers
- UNDEVELOPED PROPERTIES
for office or industrial development
- BUSINESS OPPORTUNITIES
including retail business, service and professional
companies and major corporations
RE/MAX Desert
Showcase Phoenix Commercial professionals
provide management decision support with a range of
services that include:
- INVESTMENT ANALYSIS
that provides comparative cash flow scenarios for
better informed decision
- PROPERTY MANAGEMENT
consulting to explain how properties are
professionally managed and what responsibilities are
entailed in the process
- COMMERCIAL AND INDUSTRIAL
LEASING services that help
you understand how rental properties are
categorized, how to prospect for tenants and how to
create a niche in your marketplace
- EVALUATIONS
that teach you the art of accurately establishing
property values
- EXCHANGE
transactions that inform you about the Internal
Revenue Code 1031 created to provide a tax deferment
for capital gains taxes on the sale of income
property
- SITE SELECTION
that supports you in identifying site locations that
meet your needs and conform to the criteria you
establish at the beginning of the engagement
It's the Experience
Across the world, RE/MAX means real estate
success. And much of that reputation can be attributed
to the network's commercial professionals. Commercial
practitioners typically join RE/MAX upon
entering the strongest phase of their careers. They have
the experience, knowledge and independence that
translate into client relationships built on trust.
When it's time for you to buy, sell, lease or otherwise
restructure your property interests, the options can
seem endless. And the amount of information needed to
make a wise decision can be overwhelming.
RE/MAX Commercial professional's experience
and knowledge will enable you to clearly and quickly
identify a course of action that delivers maximum value
to your company or to your individual portfolio.
Regardless of your needs, there are Phoenix AZ RE/MAX
Commercial professional who have the skills and
experience to find the best strategy - whether you're
looking at a straight forward local transaction or a
top-notch team to handle multiple-site acquisitions or
dispositions across the globe.
Best Phoenix Commercial Agents
Your RE/MAX Commercial Associate is your
single point-of-contact to the most responsive and
results-oriented team of professionals in commercial
real estate.
Cooling Housing Market
in Phoenix Doesn't Damp Commercial Sector
By Maura Webber Sadovi
from
The Wall Street Journal Online
Phoenix's rapidly cooling housing
market hasn't damped the region's commercial real-estate
market. from a new football stadium for the Arizona
Cardinals with a design inspired by a desert cactus to
more than 16 million square feet of offices, warehouses
and retail stores slated to be built in the region this
year, the area's commercial sectors are expanding at a
brisk pace amid rising rents and falling vacancy rates.
Some 5.3 million square feet of office buildings are
scheduled to be built in the region this year, about
double the amount delivered in 2005, according to
Property & Portfolio Research Inc., a Boston-based
research firm. Meanwhile, some 7.4 million square feet
of new retail space is to be delivered this year, up 26%
from last year.
The commercial growth has been fueled by a continuing
surge in population and employment, says Marshall J.
Vest, an economist at the Eller College of Management at
the University of Arizona. New arrivals first purchase
homes, and now are helping to drive demand for places to
shop and work, sending rents higher and triggering more
commercial projects that previously didn't make sense
economically, Mr. Vest says. Over the next five years,
office, retail, warehouse and apartment rents are all
expected to grow at above-average rates, PPR says.
The good times for the commercial sector come as the
party is quieting for the residential sector. Until
recently, Phoenix has been one of the stars of the
nation's high-flying housing market. The area's relative
affordability, especially in comparison to the pricier
California market, has attracted new residents and
driven population at an annual rate of 3.3% in recent
years -- about threefold the national average -- to
nearly four million people, according to Moody's
Economy.com, a unit of Moody's Corp.
As interest rates have risen, homes are taking two
months to sell, instead of days or weeks, says Mr. Vest.
The seasonally adjusted median home price has slipped
since the first quarter, and residential building
permits fell about 35% on a seasonally adjusted
annualized basis in June off the recent peak reached in
January, he adds. The downshift comes after the area's
median home prices soared 78% to $272,200 from 2003
through the second quarter, outpacing the 26.2% rise
nationally, according to the National Association of
Realtors. "It really was a frenzy and that clearly
started changing in mid-2005," says Mr. Vest.
The disconnect between the commercial and residential
real-estate cycles isn't uncommon, in part because
institutional investors that help to drive the
commercial side are less immediately affected by
interest rates. But the housing market and the related
jobs in construction and mortgage financing that it
generates are a key component of Phoenix's economy, and
some analysts say the economy -- and ultimately the
commercial market -- won't be able to sustain its
current pace as housing decelerates. Already, job growth
has slipped to a year-over-year pace of 5.1% in July
from 6.5% in July of 2005, according to the Bureau of
Labor Statistics. Still, that's well above the 1.3%
national growth rate in July.
"The commercial market is super strong but we do expect
the Phoenix market is going to come off of the pure
sizzle that it's had," says Hessam Nadji, managing
director of research for Marcus & Millichap, a
commercial investment brokerage firm based in Encino,
Calif. One area that appears to be softening is
investors' appetite for apartments purchased for
conversion to condos, he adds. Mr. Nadji expects the
dollar volume of rental complexes purchased for
conversions this year will be lower than the $1.8
billion in 2005.
Some investors remain confident that pure rental
apartments stand to benefit from the current residential
trends. Rising interest rates and the disparity between
the price of for-sale homes and rental housing has
increased demand for Phoenix-area apartments, while the
strong population growth continues to bring new
prospective tenants to the region, says Tom Garbutt,
head of TIAA-CREF Global Real Estate, a unit of the New
York-based financial services organization. "We're
seeing a lot of people coming back into the rental
market," says Mr. Garbutt. TIAA-CREF recently paid an
average per-unit price of about $188,000 for nearly
2,200 Phoenix-area apartments that were part of a larger
portfolio purchase.
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