May 29, 2019

How to Maximize Apartment Value and Keep Your Profit

By |2019-05-29T17:14:06-07:00May 29th, 2019|

Kasten Long Commercial Group 5th Town Hall Meeting for Apartment Owners and Related industry June 12, 2019 5:30 – 6:00 pm  Registration and Networking 6:00 – 7:30 pm  The Program 7:30 – 8:00 pm  Post Program Networking Location 24th St Conference Center 1841 N 24th Street, Phoenix, AZ The Program: Update [...]

May 20, 2019

Monroe Street Abbey

By |2019-05-20T15:19:32-07:00May 20th, 2019|

Downtown Phoenix – Dynamic Progress and Heritage Preserved The extreme contrast between the current and planned massive new high-rise construction and preservation of the town’s heritage was highlighted at a recent meeting hosted by the Kasten Long Commercial Group at the Monroe Street Abbey located at 302 W Monroe in the [...]

May 2, 2019

Amazon Adds More Acreage for their Westside Facility in Tucson

By |2019-05-02T20:07:52-07:00May 2nd, 2019|

Amazon Adds to their Westside Facility in Tucson Amazon recently added a third parcel of 1.3 acres, paying $9.00/sf, to their Westside land assemblage located just west and adjacent to the I-10 and I-19 (Interstate to Nogales) interchange. In Tucson, AZ  The seller was represented by Walter Unger, CCIM, Kasten Long [...]

May 2, 2019

12-Unit Mesa Apartment Community Sells for $106,250/unit

By |2019-05-02T16:23:44-07:00May 2nd, 2019|

The 12-unit Higley-University Apartments closed escrow on April 24, 2019 for $1,275,000 ($106,250/unit) at an existing 7.2% CAP rate. The buyer was a local investor. The property is part of Dreamland Villas, a 55+ age restricted community located at 5233 E University Drive, Mesa, AZ and is within a County Island. Most [...]

May 2, 2019

Downtown Mesa Apartments Sell for $171,250/unit

By |2019-05-02T14:05:49-07:00May 2nd, 2019|

Four condo-mapped townhomes plus a common area parcel (5 total parcels) closed escrow on April 30, 2019 for $685,000 ($171,250/unit) at an existing 6.5% CAP rate.  Constructed in 2002 and located at 410-426 N Drew St., the property is adjacent to the Mesa Convention Center and central to the cultural and [...]

May 2, 2019

2019 Q1 Metro Phoenix Apartment Owners Newsletter

By |2019-05-02T14:11:26-07:00May 2nd, 2019|

The Metro Phoenix Apartment Market (Q1 2019) Sales volume was strong in the 1st quarter of 2019. There were 70 individual apartment transactions with 10 or more units, plus 25 additional that were part of portfolio sales. Of the 70 individual sales, only 5 paid “all cash.” “Flips” (properties held less [...]