Scottsdale Arizona Real Estate | Bill Duffey | REMAX | Scottsdale, Carefree, Cave Creek, Paradise Valley and North Phoenix AZ |Homes, Land and Commercial Properties for sale.

Serving Scottsdale / Carefree / Desert Mountain / Paradise Valley / Cave Creek / North Phoenix | Re/Max Excalibur in Scottsdale, Arizona

COMMERCIAL PROPERTIES AND FEATURED LISTINGS   Commercial real estate gives Arizona's economy quite a boost.       

    Free for my clients.

Statewide, non-residential real estate - new office, warehouse and retail buildings - contributed $4.876 billion in direct spending during 2005. Those are the results of a National Association of Industrial and Office Properties Research Foundation report released Friday.  The commercial real estate industry also supported 104,940 full-time jobs in Arizona.

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                      Member          Member

 My Listings on LOOPNET

Call me, directly, about any of my LoopNet commercial listings.

  July 2008

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Guaranteed Rate Mortgage

Matthew McKean, Senior VP and Regional Manager (many years of experience)

Mortgage Bank Residential and Commercial lender with a very fast turn-around!  Matthew.mckean@guaranteedrate.com

480-566-5325 Office   Cell 602-509-0950  Fax 480-907-2581

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MEDICAL OFFICE (SOLD)

SOLD*  - click on the link below for more information

As featured on LOOPNET

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See also my Investments and 1031 Exchange web pages.

I specialize in the Scottsdale Airpark and North Phoenix areas for Commercial.

I will work anywhere in the Valley on Industrial projects.  Helicopter tours available on large projects. 

Last year, our firm closed approximately $50M in Commercial real estate.  

I have the expertise you need.

Give me a call to discuss rates and development plans.

I work with all of the spec builders and strategic partners in the area.  

With your permission, I will also work with the Chamber of Commerce, City, Economic Development partnerships, SBA, utility companies and the Department of Commerce to assist you in your transition and development plans.

Seem my Investment and 1031 Exchange web pages for more information.

Commercial Rates: (these change all the time - call for current info)

Lease rates in the Valley    $23 - $28  - $32 +

Purchase business condo/suite rates start at about $230 - 300/sq. ft.

TI's are running around     $45 - $60/sq. ft.

The new strategy are business condo's for purchase, largely because it is better to own than rent in this banking environment. 

(see Investments page, click on the left side of this page)

Condo sizes run about 2500 sq. ft.

Scottsdale real estate tax is $2 per sq. ft. 

Right now, the current craze is for condo units - usually around $500k

Another trend is apartment conversion to residential condos from $150k - $250k.  Most are acquired at around $60k/unit prior to the conversion.

12000 sq. ft. buildings are running $2-3 M

Downtown Phoenix class A rentals are running 28-32/sq and class B 25-28/sq.  Projected to increase 10% in 2008.

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HOT COMMERCIAL PROPERTY IN NORTH SCOTTSDALE

(our 4th office will be in this area...give me a call for more information)

N. Scottsdale gets more office space
By Rebecca I. Allen, Independent Newspapers

Companies looking for an upscale North Scottsdale address with the convenience of freeway access have 600,000 square feet of new office space to consider.

The North Scottsdale Corporate Center is set to break ground on the first of four buildings just south of the Loop 101.

Yet-to-be announced tenants are quickly renting space in the upscale buildings........

"You've got great retail amenities right across street, companies can pull employees from the northwest and southeast," .....

The Corporate Center will have a quad layout of 4-story, 150,000 square-foot buildings at each corner of the 33.48 acre-property at the northwest corner of Chauncey Lane and 70th Street. The Corporate Center property is just west of the southwest corner of Scottsdale Road and Mayo Boulevard.

The property is not actually in North Scottsdale. Maricopa County still holds the reigns to the former Chauncey Arabian Horse Ranch, which is in the Phoenix City limits. The developer, OPUS West Corporation, plans to apply for annexation into the city of Phoenix one building at a time, as each receives a certificate of occupancy.

The land is currently owned by the Chauncey Family Limited Partnership, headed by Tom Chauncey II. .... 

The first building is scheduled to open in January 2005. Construction of each building will take approximately six to eight months. Although the four phases are staggered, they could overlap since the pace of leasing will drive the construction schedule......

The rent on the up-scale buildings is $26 per square foot, with a minimum of 5,000 square feet. As with most Class- A office space, tenants will have utilities and custodial service included.

The buildings will have at least a 50-foot setback from both Scottsdale Road and Mayo Boulevard. The 60-foot tall buildings will be made of stone, glass and stucco and be connected by a pedestrian element.

The site will have four entrances, with the primary entrances being to the north and south of the property off Mayo and Chauncey. The buildings will be constructed in four phases.

No parking structures are planned. However two covered-parking awnings may be built in the future.

The 160-acre former Chauncey Ranch is divided into quadrants; now with more horsepower than horses.

The 45-acre property immediately to the south and east of the Corporate Center is the United Auto Group, which opened several luxury car dealerships in 2002. Schumacher Mercedes Benz is in the process of building a 93,000 square-foot facility just north of the upscale auto center.

The 35-acres in the southwest quadrant is being developed with multi-family housing and the remaining 40 acres at the immediate southwest corner of Scottsdale and Mayo is zoned for commercial mixed use.
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Scottsdale Downtown Development Guidelines and Future Plans:

 This is a $2 Billion dollar re-development investment!

Arizona Dept of Transportation Traffic Counts: http://tpd.az.gov/datateam/aadt.php  <click here

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WHAT IS A CAP RATE?  Believe it, or not, I am asked this all the time!

A key stat is the "cap rate," which is a percentage based on the annual rents you can collect, minus expenses, versus the property value.

For a property that costs $100,000 dollars and generates $650 per month in rent minus $250 expenses, the cap rate would be nearly 5 percent ($4,800 divided by $100,000). A cap rate of 5 percent or more should provide enough cushion to offset expenses. The lower the home price compared with the rent, the higher the cap rate.

If the numbers add up to positive cash flow, then it's a profitable time to buy.

*2006

Send e- mail to wmduffey @ yahoo.com - questions or comments.  >>> <<< Click on this icon to send e-mail)    
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