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www.colliers.com/greaterphoenix
Q1-Q3 2012 | MEDICAL/OFFICE
CONTACT DETAILSMichael DupuySenior AssociateHealthcare Services GroupDIR +1 602 222 [email protected]
Fletcher PerrySenior AssociateHealthcare Services GroupDIR +1 602 222 [email protected]
Copyright © 2012 Colliers International
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
COLLIERS INTERNATIONAL
2390 E Camelback Rd Suite 100Phoenix, AZ 85016TEL +1 602 222 5000 | FAX +1 602 222 5001www.colliers.com/greaterphoenix
SCOTTSDALE/PARADISE VALLEY
MEDICAL/OFFICE CONDO MARKET
CONDO SALES 2012 | BOTTOM 4 | PRICE/SF
Unit SF Property Address City Zip Sale Date Sale Price Price/SF Submarket Name Yr. Built
4,921 10011-10025 E Dynamite Blvd (3 Office Condo Units) Scottsdale 85262 2/28/12 $190,000 $38.61 N Scottsdale/Carefree ‘05
6,690 10037 E Dynamite Blvd, C-101-130/1st Floor Scottsdale 85262 4/30/12 $399,000 $59.64 N Scottsdale/Carefree ‘05
3,200 9927 E Bell Rd (2 Office Condo Units) Scottsdale 85260 1/25/12 $257,000 $80.31 Scottsdale Airpark ‘06
4,219 8707 E Vista Bonita Dr (2 Office Condo Units) Scottsdale 85255 5/2/12 $350,000 $82.96 N Scottsdale/Carefree ‘02
CONDO SALES 2012 | TOP 4 | PRICE/SF
Unit SF Property Address City Zip Sale Date Sale Price Price/SF Submarket Name Yr. Built
3,120 14275 N 87th St (2 Office Condo Units) Scottsdale 85260 2/29/12 $535,000 $171.47 Scottsdale Airpark ‘04
3,120 14275 N 87th St, 115-16/1st Floor Scottsdale 85260 Pending Pending $181.09 Scottsdale Airpark ‘04
2,595 10117 N 92nd St, 102/1st Floor Scottsdale 85258 5/30/12 $556,500 $214.45 Central Scottsdale ‘03
3,940 7114 E Stetson Dr, 300/3rd Floor Scottsdale 85251 5/4/12 $975,000 $247.46 Scottsdale South ‘07
THE BREAKDOWN
We compiled some research on the Scottsdale/Paradise Valley medical/office condo market based on the following criteria:
• Condo units between 2,000 – 10,000 SF• Properties in Scottsdale or Paradise Valley• Properties built after 1998• Office or medical office condos• Sold between 1/1/2012 and 8/31/2012
Some highlights from the following data are:
• 25 condos fit the above criteria• Average sale price: $128.79/SF• First 13 sales averaged $120.30/SF• Last 12 sales averaged $138.28/SF• Condos ≤ 3,500 SF averaged $123.40/SF• Condos ≥ 3,500 SF averaged $144.79/SF
Submarket information:
• Central Scottsdale (9) - $140.50/SF• N. Scottsdale/Carefree (4) - $70.41/SF• Scottsdale Airpark (11) - $129.64/SF• Scottsdale South (1) - $247.46/SF
Obviously there are individual considerations for each unit but this should at least shed some light on where the market is today for a property similar to yours. Below are the highest and lowest condo sales on price per square foot basis that have sold to date in 2012. Please feel free to contact our team if you would like to see a record of all sales or have questions about your unique situation.
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2012. All rights reserved.
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COLLIERS INTERNATIONAL
2390 E Camelback Rd, Suite 100Phoenix, AZ 85016TEL +1 602 222 5000FAX +1 602 222 5001www.colliers.com/greaterphoenix
GREATER PHOENIX MARKET
Colliers International in Greater Phoenix focuses on accelerating our clients’ success by seamlessly providing a full range of services to real estate users, owners and investors.
With offices in Phoenix and Scottsdale, Colliers | Greater Phoenix has provided integrated services on a local, regional, national and international basis for more than 30 years.
The foundation of our service is the strength and depth of our specialists. Our clients can depend on our ability to draw on years of direct experience in the local market. Our professionals know their communities and the industry inside and out. Whether you are a local firm or a global organization, we provide creative solutions for all your real estate needs.
CONTACT US
THE DUPUY/PERRY TEAM
HEALTHCARE SERVICES GROUPMichael and Fletcher help physicians and healthcare related users secure the best deal available in the market.
Partial Client ListBiltmore Cardiology; Valley Anesthesiology Consultants; Camelback Family Health Care; Twin Pediatrics; Central Valley Surgeons; Phoenix Ophthalmologists Eye Care & Laser Center; Arizona Skin Care Physicians; Affiliated Colon & Rectal Surgeons; Prosthetic Orthotic Associates; Paradise Valley Medical Clinic; Jay Standerfer, MD; Linda Austin, MD; Sherwin Optical
MICHAEL DUPUYAs a commercial real estate professional, Michael’s strengths are underwriting transactions, creative deal structuring, organization, and clear communication with his clients. He
creates value by understanding the numbers and providing top quality work product.
EDUCATIONBA | Political Science, University of Arizona
FLETCHER PERRYFletcher has several years of experience in healthcare real estate. His strength is building strong, lasting relationships. Fletcher benefits his clients by providing them with up-to-date
market information and professional negotiating skills. They also enjoy his enthusiasm and energy.
EDUCATIONBS | Regional Development, University of Arizona
Michael DupuySenior AssociateHealthcare Services Group DIR +1 602 222 [email protected]
Fletcher PerrySenior AssociateHealthcare Services Group DIR +1 602 222 [email protected]
