The median sale price per square foot for office properties in the metro area has risen 4.9%. There was a 11.8% decline earlier this year during a five-month period ending in July. For office properties, the average sale price per square foot has risen to $66.94, a 3.6% increase compared to the end of last quarter. But for the previous 12 months, sale prices are down, showing a 8.1% decline. The highest median sale price over the past three years, which was $144.40, was set in October 2009. In comparison, the current median sale price is down by 53.6%. However, the current price is 4.9% above the three-year-low of $63.84 set in July 2012. Source - LoopNet
Office Property Sale Prices – Sale Trends
December 13, 2012 By Leave a Comment
SOLD: Freestanding Office Building in Tempe, AZ
July 23, 2012 By Leave a Comment
Represented the buyer in the acquisition of this property.
Salient Facts:
Purchase Price: $362,500
Size: 4,500 SF
Built: 1980
Buyer intends to occupy the property for their use.
For more information, email or call me!
Former RBI Headquarters Building Sold
April 21, 2012 By Leave a Comment
Homer Savard, CCIM and Dave Verwer, CCIM exclusively represented Show Appeal (Buyer) in the acquisition of the former Retail Brokers, Inc (RBI) office building on Indian Bend Road. Show Appeal plans to relocate to the office building from another location in Tempe. They paid $1,215,000 for the property.
For more information, or if you would like help identifying a new property, contact Homer, Dave or myself.
Commercial Properties Foreclosed – week of 2/13/12
February 20, 2012 By Leave a Comment
Office Property Asking Rent – Lease Trends
Lease rates for office properties have risen 0.4% versus last quarter to $17.10 per square foot. For the year, asking lease rates have still declined 0.1%. Lease rates for office properties hit a three-year peak in March 2008 at $22.08 per square foot. In comparison, the median asking price is now 9.6% lower. On the other hand, the lowest asking lease rate in the past three years was seen last month at $16.79. Source - LoopNet