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 [...]
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 [...]
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 [...]
On June 9th, 2017, the 16 unit Devonshire Apartments located at 2414 W Devonshire Avenue in Phoenix sold for $1,000,000 ($62,500/unit) and was purchased by an exchange buyer out of southern California. The building was acquired by the seller in September of 2016 for $780,000. After installing automated entry/exit gates and [...]
April 30th, 2015 was a good day for Desh Gupta. Desh closed the purchase of a 64 unit apartment complex in North Phoenix at 16802 N 26th Place called Northview Estates. At the $3,072,000 purchase price this represents a $48,000 per unit cost. Scott Trevey, CCIM with the Kasten Long Commercial [...]
It is no secret that owning apartments in Phoenix is back in vogue. The 8 unit Park Central on Earll apartments sold last week for $65,625 per unit. While all eight units were 2 bedroom floor plans, these were in no way updated or refurbished. In fact, the rents were quite [...]
In the summer of 2012, the Scottsdale Area Assoc. of Realtors (SAAR) created the Commercial Services Committee and selected Jim Kasten, CCIM to be the chairman. Jim is also the owner and designated broker of the very successful Kasten Long Commercial Group (www.KLCommercialGroup.com), a full service commercial real estate brokerage with [...]
