According to a US Census Bureau report that measures population of counties with a population of at least 10,000 in 2009 from April 1, 2000 to July 1, 2009, Pinal County, AZ ranks as the 2nd highest with 89.7% growth. Pinal County was the only Arizona County to make the list.
UTAZ has developed multiple Professional Villages in Pinal County:
Craig Willett, UTAZ President on “What is a UTAZ Professional Village”
A Professional Village is a collection of buildings with different architectural styles, all designed around the needs of medical and small business owners. It’s like watching Andy Griffith Show—being in Mayberry where you walk down the street and can get your haircut, go to your attorney’s office, go to your accountant’s office, all at the same time. In a UTAZ Professional Village, we have a collection of professionals who are known as being in the tops in their profession and they tend to refer business one to another—but it’s a great location that identifies professionals and keeps an image, adding to the long lasting value of your real estate purchase.
Several things add to the image. Imagine the mid-rise office buildings where you as a 2 or 3,000 square foot tenant can’t get your name on the building. But here, as a 2 or 3,000 square foot owner you have your name on the building; in fact, you own probably no less than half of a building, if not the entire building. So you add to this prestige; you’re no longer a second class citizen as a small business owner and as a medical professional.
Additionally, the scale of our buildings—they’re 13.5 foot high ceilings. Imagine from the outside what that appears like from the street. They have a residential appearance, but their scale is grand and gives that image of success.
The other things that are designed into it: they’re well maintained, their well landscaped, they’re designed along corridors with busy traffic, giving you visibility every day; up to 10 million people a year see your name on your building. And so, the Professional Village is designed to give you the notoriety, connote in the mind of your customer and your patient: “success”—thereby getting greater referrals and adding to the success of your business.
In 2009 we have have seen a definite increase in demand in move-in ready leases. View a list of all our move-in ready leases The graph represents V2 Properties and Execu-Suites data, affiliates of UTAZ.
Call for details 480-304-7477.
a.Premium locations are selling.
UTAZ frontage inventory has been reduced by 37% in Q3 2009 b.The Southeast Valley is the only Arizona submarket that experienced positive absorption in 2Q09 c.New office construction has virtually halted d.Absorption increased from 6,437 SF 1Q09 to 211,732 SF 2Q09
2.Affordability - “Buy low”
a.Prices have dropped over 30% b.Prime rate at its lowest since 1955 c.Interest rates expected to increase d.Every half percent hike equates to ~$10/sf loss e.95% financing available
3.Equity - “Pay yourself first”
a.Asset (ownership) vs. Liability (leasing) b.Save over 30% compared to leasing c.Future value of an office vs. future value of a lease
Gilbert – Ironwood Gilbert LLC in Paradise Valley (Ironwood Cancer and Research Centers, Dr. Parvinder Khanuja, principal) paid $1,825,250 ($175 per foot) to purchase a 10,430-square-foot medical office building located at 3855 S. Val Vista Drive in Gilbert. The seller was Mercy Point Medical Center, Inc., an affiliate of UTAZ Development Corporation in Gilbert (Craig Willett, president). The seller was represented by Kyle LeSueur of UTAZ Real Estate Corporation in Gilbert. The building sold in shell condition. The buyer intends to occupy with Ironwood Cancer and Research Centers, which has multiple valley locations including Chandler and Mesa. UTAZ is pleased to welcome Ironwood Cancer and Research Centers to the Mercy Point Medical Center.
Gilbert – MDNB LLC in Gilbert (Dr. Tim Bryan, principal) paid $476,084 ($180 per foot) to purchase a 2,648-square-foot medical office building located at 4365 E. Pecos Road in Gilbert. The seller was Power Ranch Professional Village Development LC, an affiliate of UTAZ Development Corporation in Gilbert (Craig Willett, president). The buyer was represented by Sheila Bale of Prudential CRES in Scottsdale. The seller was represented by Kyle LeSueur of UTAZ Real Estate Corporation in Gilbert. The building sold in shell condition. The buyer intends to occupy with a family practice. UTAZ is pleased to welcome Dr. Tim Bryan to the Power Ranch Professional Village.
Craig Willett, UTAZ President & CEO, was featured in the Phoenix Business Journal’s Commercial Real Estate Section on July 31, 2009.
They quote:
“Things have started picking up again for Gilbert-based UTAZ Development Corp., which has sold or leased more than 13,000 square feet of office condo space in the past [month].
“Willett said UTAZ is seeing activity because of the ‘function of value’ in the market right now. With prices dropping and interest rates low, he said potential buyers have come back into the market to get good deals. He said prices have stabilized in the past few months, making it an attractive buyer’s market.
“‘Today by far represents the best value we’ve seen in years,’ Willett said. ‘The fact we’ve been doing more business in the last 60 days than we did in the last nine months means we have definitely turned a corner.’”
