broker opinion of value and marketing planpdf.leeazmail.com/pdfs/industrial/tjs/33 w broadway road -...

BROKER OPINION OF VALUE AND MARKETING PLAN

33 W. Broadway Road Mesa, AZ 85210

Prepared For:

Michael Longley Assistant General Counsel

MIDFIRST BANK

Prepared By:

TJ Swearengin, Principal

3200 E. Camelback Road Suite 100

Phoenix, AZ 85018

JUNE 2013

LEE & ASSOCIATES BROKER OPINION OF VALUE AND MARKETING PLAN

TABLE OF CONTENTS

33 W. Broadway Road, Mesa, AZ 85210

I. Subject Property

II. Lee & Associates Arizona

III. Comparable Sales

IV. Available Competition

V. Broker Opinion of Value

VI. Industrial Market Report

SUBJECT PROPERTY


SUBJECT PROPERTY


Property:

33 W. Broadway Road Mesa, Arizona 85210

Building Size:

24,555 SF (consisting of 3 buildings)

Office/Retail Buildout:

8,450 SF

Type:

Retail/Auto Body Industrial

Year Built:

1967 - 1976

Building Construction:

Metal, Concrete and Block

Zoning:

DB-2, City of Mesa

Lot Size:

51,065 SF

Loading:

Grade Level, Dock High and Truckwell

Parcel Number:

139-38-111A

Clear Height:

14’ – 20’

Comments:

» Fully Fenced with Rolling Gates

» Broadway Exposure

» Multiple Buildings

» Four (4) Downdraft Gas Paint Booths


SUBJECT PROPERTY


LEE & ASSOCIATES ARIZONA




Lee & Associates is a full service commercial real estate brokerage firm which, in recent years, has

become a major influence in the commercial real estate industry. Having evolved from an early

user-oriented emphasis, clients now include the largest developers and holders of real estate as well

as the already established corporate base. Clients differ as greatly in size as they do in variety,

often ranging from small, family-owned operations to Fortune 100 companies.

The growing number of available services reflects the diversity of this new, more sophisticated

customer base. Whether a client owns a suburban office project, an industrial distribution building,

or one hundred acres of land for sale or build-to-suit; Lee & Associates Arizona has the professional

staff and support team of experienced brokers to service the project.

Our philosophy is that clients are better served by giving the most talented brokers a

cooperative environment rather than a competitive environment within the firm of Lee &

Associates.

Lee & Associates Arizona has handpicked and assembled the best brokers in the business. Our

principals have completed over $2 billion in transaction volume in the past ten years. Our company

structure allows for better communication and collaborative market information, but more

importantly, better effectiveness in the marketplace. This concept has enabled Lee & Associates

Arizona to become a major real estate brokerage firm by creating a business strategy that produces

maximum results for our clients.

Major factors to remember when selecting the best brokerage team are:

1. Accountability

2. Work Ethic

3. Professional Representation

4. Lee & Associates Arizona is locally owned and operated

5. Quality experienced brokers with established presence in the market

6. Complete research staff and project support to handle all reporting requirements




SERVICES AND BENEFITS Lee & Associates Arizona delivers a breadth and quality of service that is unparalleled in the industry. We are uniquely focused on the needs and trends of corporate real estate and have developed an extensive array of services to benefit our corporate clients. The entire process is an organized and methodical approach to ensure ownership of the best possible results through the least amount of risk and time. This process is tailored to your objectives and requirements. The result is a smooth and efficient transaction that meets your needs.

PROJECT MARKETING AND LEASING SERVICES BENEFITS

Evaluate the Project and surrounding submarket(s)

Create Marketing Strategy

Identify and Pursue Target Prospects

Financial Proposal Analysis/Lease Analysis

Negotiation Strategy Development & Implementation

Maximize Value of Real Estate

Optimal Solutions to Meet Sale Objectives and/or Cash Flow Projections

Expertise of a Professional Real Estate Consultant at your Fingertips

Single Point of Contact and Accountability

Lee & Associates has offices throughout the region to assist our clients in most markets. In addition, we have recently opened offices in Orlando, Kansas City, Manhattan, Atlanta and Indianapolis.




RESEARCH DEPARTMENT CAPABILITIES

The Research Department at Lee & Associates has extensive research capabilities. The

department plays a major role in each company project by gathering, inputting and tracking

information in extensive databases, market studies, forecasting reports, desktop publishing,

mailers, public relations, and client/project-specific studies. This detailed information provides our

clients with more accurate data in order to make an informed decision.




TEAM STRUCTURE

SWEARENGIN

Handle all negotiations

Cold Calling

Property Tours

Sale Analysis

Proposals

Market Updates

MEGAN MURRAY Graphic Designer

Brochures

Marketing Materials

Announcements

ANGELA PETERSON Administrative Assistant

Prepare Proposals

Leases/Purchase Contracts

Commission Accounting

STEPHANIE DAWA Administrative Assistant

Spreadsheets

Marketing Packages

Correspondence

LEIA DEVINE Administrative Assistant

Marketing Reports

Presentations

Overflow Projects

CHRIS MCCHESNEY Research Analyst

Market Research

Maps/Aerials

CoStar Reports

MATT DEPINTO Research Analyst

Market Analysis

Public Relations

Quarterly Market Reports

CONNER LEE Research Analyst

Property Email blasts

Lease Comp Database

Market Research

Mr. Adam Levin Mr. Chris Burson




RESUME

TRACY J. SWEARENGIN Principal

LEE & ASSOCIATES ARIZONA Industrial Property Division [email protected] | www.leearizona.com Direct 602.954.3530 | Fax 602.954.0510

CLIENTS REPRESENTED

ADT Security Services

Arizona Tents and Events

Baker Brothers

Cabot, Cabot & Forbes

First Citizens Bank

Garrett Aviation

LBA Realty Fund

National Bank of Arizona

National Bank of Kansas

New York Community Bank

Philosophy Cosmetics

Sherwin Williams

Southwest Traders

USA Baby

Unisys Corporation

Walmart Stores, LP

Wells Fargo Bank

TJ Swearengin is a licensed Arizona Real Estate Broker and a graduate of Arizona State University. TJ specializes in the representation of landlords and tenants in the leasing and sales of industrial properties in the Metropolitan Phoenix real estate market. TJ’s extensive research and knowledge of the market has enabled him to offer competitive marketing for users, owners and developers of industrial properties. Since joining Lee & Associates, TJ has completed over 211 transactions totaling in excess of $133 million.

EXPERIENCE

Lee & Associates Arizona, 1999 – Present

EDUCATION

Arizona State University, Bachelor of Arts, Social and Behavioral Sciences

AFFILIATIONS

NOVA Arizona, President (www.nova-arizona.org)




REFERENCES

Steve Amrhein, OREO Manager National Bank of Arizona 6001 N. 24th Street Phoenix, AZ 85016 602.212.5520

Bob Hubbard LBA Realty 2555 E. Camelback Road, Suite 180 Phoenix, AZ 85016 602.648.0908

Patrick McKeon New York Community Bank 216.588.4157

Tom Altieri MidFirst Bank 3030 E. Camelback Road Phoenix, AZ 85016 602.801.5344

Mork Reeb Reeb Group 2812 N. Norwalk, 105 Mesa, AZ 85215

Guy DeLaCruz Lenovo 360 Esplenade Avenue, #5 Pacifica, CA 94044 646.744.8441

COMPARABLE SALES

This copyrighted report contains research licensed to Lee & Associates - 113269. 6/3/2013

Page 1

945 E Juanita Ave (2 properties)

Mesa, AZ 85204

Multi-Property sale of 2 properties for $1,280,000

Property Addresses:929 E Juanita Ave945 E Juanita Ave

Multi-Property Sale with 2 properties

buyer

Cutler Commercial2150 E Highland AvePhoenix, AZ 85016(602) 955-3500

Sterling Savings Bank111 N Wall StSpokane, WA 99201(509) 354-8190

seller

vital data

Sale Date: 11/14/2012

Days on Market: -

Exchange: No

Conditions: REO Sale

Land Area SF: 101,094

Acres: 2.32

$/SF Land Gross: $12.66

Comp ID: 2602871

Sale Price: $1,280,000

Status: Confirmed

Building SF: 28,558 SF

Price/SF: $44.82

Pro Forma Cap Rate: -

Actual Cap Rate: -

Down Pmnt: -

Pct Down: -

Doc No: 1036989

Trans Tax: -

Property Type: Industrial

Multi-Property SaleName: 2# of Properties:

Parcel No: 139-11-047 [Partial List]

Escrow/Contract: 15 days

income expense data Listing Broker

Realty ONE Group11211 N Tatum BlvdPhoenix, AZ 85028(602) 953-4000Randy Molander

Buyer Broker

Cutler Commercial2150 E Highland AvePhoenix, AZ 85016(602) 955-3500Todd Hamilton

prior sale

Date/Doc No:

Sale Price:

CompID:

8/29/2012

-

2551912

financing

1st Private Lender

Bal/Pmt: $560,000


Page 1

1045 W Broadway Rd

Mesa, AZ 85210

Freestanding Building of 23,010 SF Sold on 10/15/2012 for$950,000 - Research Complete

buyer

Jack Furrier3545 S Richey BlvdTucson, AZ 85713(520) 748-1700

Stearns Bank Arizona9225 E Shea BlvdScottsdale, AZ 85260(480) 314-4200

seller

vital data

Sale Date: 10/15/2012

Days on Market: 476 days

Exchange: No



Acres: 2.03


Year Built, Age: 1983 Age: 29

Parking Spaces: -

Parking Ratio: -

FAR 0.26

Lot Dimensions: -

Frontage: -

Comp ID: 2580327

Sale Price: $950,000

Status: Confirmed


Price/SF: $41.29


Actual Cap Rate: 13.10%

Down Pmnt: $226,250

Pct Down: 23.8%

Doc No: 0930219

Trans Tax: -

Corner: No

Zoning: M-1, Mesa

No Tenants: 4

Percent Improved: 60.4%

Submarket: Red Mountain/Mesa Ret

Property Type: Retail

MultiTenancy:

Parcel No: 134-12-022E

Map Page: -


income expense data

Cash Flow

$124,631

- Capital Expenditure

- Debt Service

Net Operating IncomeNet Income

Listing Broker

Sperry Van Ness12558 N Fountain Hills BlvdFountain Hills, AZ 85268(480) 837-6028Mark Phillips

Buyer Broker

PICOR Commercial Real Estate Services1100 N WilmotTucson, AZ 85712(520) 748-7100Greg Furrier

prior sale

Date/Doc No:

Sale Price:

CompID:

4/27/1993

$350,000

85322

financing


Page 2

3205 N Delaware St

Arizona Corp. Park NorthChandler, AZ 85225

Class C Warehouse Building of 15,174 SF Sold on 6/8/2012 for$1,000,000 - Research Complete

buyer

Clinical Study Applications Inc3305 S William Dillard DrChandler, AZ 85225(480) 632-1586

Gregory NicollsPO Box 89303Honolulu, HI 96830

seller

vital data

Sale Date: 6/8/2012


Exchange: No

Conditions: -


Acres: 1.14



Parking Spaces: 35

Parking Ratio: 2.31/1000 SF

FAR 0.31

Lot Dimensions: -

Frontage: 172 feet on E Delaware

Comp ID: 2491021


Status: Confirmed


Price/SF: $65.90

Pct Office: 12.9%


Actual Cap Rate: -

Down Pmnt: $492,000

Pct Down: 49.2%

Doc No: 0496642

Trans Tax: -

Corner: Yes

Zoning: I-1, Chandler


Submarket: Chandler N/Gilbert Ind


SingleTenancy:

Parcel No: 302-24-300

Map Page: Wide World of Maps, Inc. 167-178MB

Escrow/Contract: -

income expense data

$17,979

$17,979

Total Expenses

- Operating Expenses

- TaxesExpenses

Listing Broker

Jones Lang LaSalle3131 E Camelback RdPhoenix, AZ 85016(602) 282-6300Steve Larsen

Buyer Broker

Jones Lang LaSalle3131 E Camelback RdPhoenix, AZ 85016(602) 282-6300Steve Larsen

prior sale

Date/Doc No:

Sale Price:

CompID:

3/25/2003

$1,016,650

745808

financing

1st Zions First National Bank

Bal/Pmt: $508,000

2nd Zions First National Bank

Bal/Pmt: $406,400 [partial list]


Page 3

622 S Hacienda Dr

Hacienda Auto Ctr ITempe, AZ 85281


buyer

George & Margaret Galowicz16618 N 61st PlScottsdale, AZ 85254(480) 968-5915

Mohr Property, LLC1887 Mott CrtSanta Rosa Valley, CA 93012(406) 646-7363

seller

vital data

Sale Date: 5/10/2013

Days on Market: -

Exchange: No

Conditions: Purchase By Tenant


Acres: 1.7



Parking Spaces: 70


FAR 0.31

Lot Dimensions: 222x330

Frontage: -

Comp ID: 2746126


Status: Confirmed


Price/SF: $76.13

Pct Office: 10.0%


Actual Cap Rate: -

Down Pmnt: $150,000

Pct Down: 8.6%

Doc No: 0429980

Trans Tax: -

Corner: No

Zoning: I-1, Tempe


Submarket: Tempe East Ind


SingleTenancy:

Parcel No: 132-40-013 [Partial List]

Map Page: -

Escrow/Contract: -

income expense data Listing Broker

No Listing Broker on Deal

Buyer Broker

No Buyer Broker on Deal

prior sale

Date/Doc No:

Sale Price:

CompID:

6/16/1993

$345,000

85750

financing

1st Midfirst Bank

Bal/Pmt: $1,400,000


Page 4

3324 N San Marcos Pl

LSI PhotomaskChandler, AZ 85225

Class C Manufacturing Building of 19,398 SF Sold on 1/12/2012for $1,025,000 - Research Complete

buyer

Filconn Inc1347 E University DrTempe, AZ 85281(480) 222-3565

David Tucci1 W Campbell DrPhoenix, AZ 85013(602) 647-0366

seller

vital data

Sale Date: 1/12/2012


Exchange: No

Conditions: -


Acres: 1.32



Parking Spaces: 30

Parking Ratio: -

FAR 0.34

Lot Dimensions: -

Frontage: 230 feet on San Marcos

Comp ID: 2245915


Status: Confirmed


Price/SF: $52.84

Pct Office: 22.0%


Actual Cap Rate: -

Down Pmnt: -

Pct Down: -

Doc No: 0027343

Trans Tax: -

Corner: No

Zoning: I-1/PAD, Chandler

No Tenants: 3




MultiTenancy:

Parcel No: 302-88-983



income expense data

$19,634

$19,634

Total Expenses


- TaxesExpenses

Listing Broker

KW Commercial18940 N Pima RdScottsdale, AZ 85255(480) 889-7300Brock Danielson

Buyer Broker

Lee & Associates3200 E Camelback RdPhoenix, AZ 85018(602) 956-7777Matthew McDougall

prior sale

Date/Doc No:

Sale Price:

CompID:

8/4/2011

$1,200,000

2161490

financing

1st Arizona Business Bank

Bal/Pmt: $512,500

2nd Arizona Business Bank

Bal/Pmt: $410,000 [partial list]


Page 5

1416 W San Pedro St

Edson Electric SupplyGilbert, AZ 85233

Class B Distribution Building of 23,443 SF Sold on 12/26/2012for $1,500,000 - Research Complete

buyer

Sunstone Rover, LLC1370 Old Mill RdSan Marino, CA 91108

S & L Printing and Mailing1428 W San Pedro StGilbert, AZ 85233(480) 497-8081

seller

vital data

Sale Date: 12/26/2012

Days on Market: -

Exchange: No

Conditions: -


Acres: 1.5



Parking Spaces: 24


FAR 0.36

Lot Dimensions: -

Frontage: 180 feet on San Pedro

Comp ID: 2632616


Status: Affidavit


Price/SF: $63.98

Pct Office: 10.0%


Actual Cap Rate: -

Down Pmnt: $1,500,000

Pct Down: 100.0%

Doc No: 1175244

Trans Tax: -

Corner: No

Zoning: I-1, Gilbert

No Tenants: 2




SingleTenancy:

Parcel No: 302-12-422

Map Page: Wide World of Maps, Inc. 167-179MA

Escrow/Contract: -

income expense data

$27,627

$27,627

Total Expenses


- TaxesExpenses

Listing Broker

Buyer Broker

prior sale

Date/Doc No:

Sale Price:

CompID:

4/23/2002

$1,400,000

650982

financing


Page 6

220 N William Dillard Dr

Gilbert, AZ 85233


buyer

Servpro220 N William Dillard DrGilbert, AZ 85233(480) 558-7620

Wells Fargo Bank National Association4406 Piedras Dr WSan Antonio, TX 78228(800) 869-3557

seller

vital data

Sale Date: 6/6/2012


Exchange: No



Acres: 4.78



Parking Spaces: 20

Parking Ratio: 1/1000 SF

FAR 0.10


Frontage: -

Comp ID: 2488131


Status: Confirmed


Price/SF: $66.12

Pct Office: 41.6%


Actual Cap Rate: -

Down Pmnt: $135,000

Pct Down: 10.0%

Doc No: 0488415

Trans Tax: -

Corner: No

Zoning: LI, Gilbert

No Tenants: 1




MultiTenancy:

Parcel No: 302-23-005F



income expense data

$54,992

$20,418

$34,574

Total Expenses


- TaxesEstimated Expenses

Listing Broker

GPE Commercial Advisors, LLC2777 E Camelback RdPhoenix, AZ 85016(480) 994-8155Bret Isbell, Russell Fine

Buyer Broker

Newmark Grubb Knight Frank2398 E Camelback RdPhoenix, AZ 85016(602) 952-3800Peter Batschelet

prior sale

Date/Doc No:

Sale Price:

CompID:

6/30/2005

$2,625,000

1041415

financing

1st Us Bank N A

Bal/Pmt: $1,215,000


Page 7

AVAILABLE COMPETITION

This copyrighted report contains research licensed to Lee & Associates - 113269.6/3/2013

Page 1

> Property is entirely fenced> Zoned M-2, City of Mesa> Less than 2 miles to a full diamond interchange at U.S. 60 & Country Club Drive> Ideal for contractors yard or heavy equipment maintenance

Sales ContactsPortfolio Information

Investment Notes

Portfolio of 2 Warehouse properties in Mesa, AZ, having total size of 23,000 SF, and for sale at $695,000 ($30.22/SF)

Colliers International

Rob Martensen

2390 E Camelback RdSuite 100Phoenix, AZ 85016(602) 222-5000

Vice President(602) 222-5082 (phone)

1

Sale Price: $695,000

Cap Rate: -

Sale Type: Investment OR Owner/User

Price/SF: $30.22

Sale Status: Active

RBA: 23,000 SFDays On Market: 437

Some properties can be sold individually

Sale Conditions: -

2 Properties in portfolio


Page 1

Excellent income producing, multi-tenant industrial building less than 1 mile from US 60. This property is 70% occupied and has verydesirable small 1,850 sf bays with only 5% office. Most tenants have been in the building for more that 5 years. The location is exceptionaldue to its proximity to freeway and auto/cycle related demands.

Recent capital improvements includes: Parking lot reseal and strip, building paint, all curbing replaced, vacant suites painted white, rooffully inspected and cleaned, new signage, sump repairs, new sump pump, exterior wall height increase, landscaping, roof access created,allexterior lighting replaced with more efficient units, retention basin improvements, and much more.

This property is now positioned for 100% occupancy with minimum improvements expected in the near future. Suites 2, 4 and 6 availablefor lease.

Net Operating Income is now $87,000/year

Sales ContactsInvestment Information

Investment Notes

Building Information

Country Club & Southern Ave.Country Club & Southern Ave. - Mesa, AZ 85210 - Mesa Ind Submarket18,460 SF Class C Manufacturing Building Built in 1984Property is for sale at $1,000,000 ($54.17/SF)

334 W 10th Ave

City to City Commercial

Kent D. Baker

7201 E Camelback RdSuite 210Scottsdale, AZ 85251(480) 355-2222

Senior Vice-President(480) 355-2222 ext. 241 (phone)(480) 321-8889 (fax)

2

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,000,000

8.70%$54.17

Active

Days On Market: 168

Sale Type: InvestmentSale Conditions: -

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Manufacturing

-

Built 1984

0.41Stories: 1

5,550 SFBldg Vacant:For SaleRent/SF/mo:

Warehouse Avail: 1,850 SF0 SFOffice Avail:

CAM: -Land Area: 44,867 SF

Smallest Space: 1,850 SFMultiple Tenant

Owner Occupied: NoTenancy:

1,850 SFMax Contig:

% Leased: 90.0%RBA: 18,460 SF

Zoning: C-3, Mesa

Cross Docks:Crane: -None14'0"-16'0"Ceiling Height:Column Spacing: -

MasonryConst Mat:Loading Docks: None

Drive Ins: 10 (total)Rail Line: None

YesLevelators: NoneSprinklers:

NoneRail Spots:

Lot Dimensions: -


Page 2

Power: 100a/120-208v

Utilities: No Heating

Parcel Number: 139-43-005Q

Parking: 35 free Surface Spaces are available; Ratio of 1.90/1,000 SF


Page 3



Tempe, AZ 85282 - Tempe East Ind Submarket19,950 SF Class B Distribution Building Built in 1973Property is for sale at $1,596,000 ($80.00/SF)

1868 E Broadway Rd

Lee & Associates

Bruce Heathcote

111 PacificaSuite 310Irvine, CA 92618(949) 727-1200

Senior Vice President(949) 790-3107 (phone)(949) 727-1299 (fax)

3

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,596,000

-$80.00

Active

Days On Market: 1,246

Sale Type: Investment OR Owner/UserSale Conditions: Sale Leaseback

Portfolio Info: This property is also for sale as part of aportfolio

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Distribution

-

Built 1973

0.19Stories: 1

0 SFBldg Vacant:For SaleRent/SF/mo:



Smallest Space: 19,950 SFSingle Tenant


19,950 SFMax Contig:

% Leased: 100.0%RBA: 19,950 SF

Zoning: GID, Tempe

Cross Docks:Crane: NoNone-Ceiling Height:Column Spacing: -

Reinforced ConcreteConst Mat:Loading Docks: 13 ext (bldg. total)

Drive Ins: NoneRail Line: None

-Levelators: 8 extSprinklers:

NoneRail Spots:

Lot Dimensions: -

Features: Fenced Lot

Parcel Number: 133-05-015

Parking: 30 free Surface Spaces are available


Page 4

Fenced Yard & Heavy Power


Investment Notes


Tempe, AZ 85281 - Tempe East Ind Submarket18,000 SF Class B Warehouse Building Built in 1970Property is for sale at $1,170,000 ($65.00/SF)

115-205 S Industrial Dr

Lee & Associates

T.J. Swearengin

3200 E Camelback RdSuite 100Phoenix, AZ 85018(602) 956-7777

Principal - Industrial(602) 912-3530 (phone)(602) 954-0510 (fax)

4

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,170,000

-$65.00

Active


Sale Type: Owner/UserSale Conditions: -

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Warehouse

-

Built 1970

0.43Stories: 1


Warehouse Avail: 18,000 SF2,500 SFOffice Avail:


Smallest Space: 18,000 SFMultiple Tenant



% Leased: 0.0%RBA: 18,000 SF

Zoning: I-1

Cross Docks:Crane: --14'0"Ceiling Height:Column Spacing: -


Drive Ins: 4 tot./8'0"w x 10'0"hRail Line: -

-Levelators: NoneSprinklers:

-Rail Spots:

Lot Dimensions: -

Power: 2400a/480v 3p

Utilities: Gas

Features: Fenced Lot

Parcel Number: 132-41-033A

Parking: 12 Surface Spaces are available


Page 5

20,050 +/- SF Comprised of 3 BuildingsLocated on 76,542 +/- SF Paved Lot10 Industrial Suites14" Overhead Doors/ 16' Ceiling HeightsGlass Front Suites Facing Main StreetZoned GC City of MesaGreat for Auto and Commercial UseEstablished Location at Main Street and Lindsey Rd


Investment Notes


Mesa, AZ 85213 - Falcon Fld/Apache Jct Ind Submarket20,050 SF Class C Industrial Building Built in 1987Property is for sale at $1,300,000 ($64.84/SF)

3015 E Main St

Metropolitan Realty Advisors

Adam Hansen

7802 E Gray RdSuite 600Scottsdale, AZ 85260(602) 509-8776

Sales & Leasing Agent(480) 252-1363 (phone)

5

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,300,000

11.20%$64.84

Active

Days On Market: 20

Sale Type: InvestmentSale Conditions: -

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Industrial

-

Built 1987

0.26Stories: 1

0 SFBldg Vacant:For SaleRent/SF/mo:

Warehouse Avail: 0 SF0 SFOffice Avail:


Smallest Space: 0 SFMultiple Tenant


0 SFMax Contig:

% Leased: 100.0%RBA: 20,050 SF

Zoning: GC

Cross Docks:Crane: --16'0"Ceiling Height:Column Spacing: -

-Const Mat:Loading Docks: None

Drive Ins: 10 tot./14'0"w x 16'0"hRail Line: -

-Levelators: NoneSprinklers:

-Rail Spots:

Lot Dimensions: -

Features: Signage

Parcel Number: 140-27-003Z, 140-27-020

Parking: 64 Surface Spaces are available


Page 6

Centrally located Gilbert office and warehouse property includes three buildings and a secured, fenced storage yard. The office build-outfeatures a soaring two-story lobby with custom wood ceiling. Drive-in work bays and covered work areas ideal for RV or automotivestorage and service. Was a contractor's office with plan tables and abundance of phone and Internet cabling. Includes two parcels APN#302-15-037 and #302-15-033.

Located in the Golden Key Plaza industrial park South of Guadalupe and East of Cooper Road in Gilbert.


Investment Notes


Gilbert, AZ 85233 - Chandler N/Gilbert Ind Submarket17,298 SF Class C Warehouse Building Renovated in 1987 Built in 1984Property is for sale at $1,099,000 ($63.53/SF)

741 N Monterey St

Sorensen & Black

Samuel H. Sorensen

5812 N 12th StSuite 28Phoenix, AZ 85014(602) 256-9155

Principal/Broker(602) 256-9155 (phone)

6

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,099,000

-$63.53

Escrow

Days On Market: 325

Sale Type: Owner/UserSale Conditions: -

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Warehouse

-

Built 1984, Renov 1987

0.20Stories: 2





Owner Occupied: YesTenancy:


% Leased: 0.0%RBA: 17,298 SF

Zoning: LI

Cross Docks:Crane: --14'0"-20'0"Ceiling Height:Column Spacing: -

-Const Mat:Loading Docks: -

Drive Ins: 7 (total)Rail Line: None

-Levelators: -Sprinklers:

NoneRail Spots:

Lot Dimensions: -

Features: Property Manager on Site

Parcel Number: 302-15-033, 302-15-037

Parking: 18 free Covered Spaces are available; Ratio of 1.04/1,000 SF


Page 7

Please call with questions.


Investment Notes


Mesa, AZ 85202 - Mesa Ind Submarket26,940 SF Class B Warehouse Building Renovated in 1992 Built in 1980Property is for sale at $1,150,000 ($42.69/SF)

263 S Mulberry St - Automotive Testing Laboratories

Rein & Grossoehme

Steve Grossoehme

8767 E Via de VenturaSuite 370Scottsdale, AZ 85258(480) 214-9400

Principal - Office/Industrial Sales(480) 214-9413 (phone)(480) 214-9401 (fax)

7

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,150,000

-$42.69

Escrow


Sale Type: Investment OR Owner/UserSale Conditions: -

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Warehouse

-

Built 1980, Renov 1992

0.20Stories: 1







% Leased: 0.0%RBA: 26,940 SF

Zoning: M-2, Mesa

Cross Docks:Crane: -None14'0"-16'0"Ceiling Height:Column Spacing: -


Drive Ins: 5 tot./10'0"w x 10'0"hRail Line: None


NoneRail Spots:


Power: 3000a

Utilities: Gas - Natural, Heating - Electric, Sewer - City, Water - City

Features: Cooler, Fenced Lot, Property Manager on Site

Parcel Number: 134-31-008M

Parking: 90 Surface Spaces are available; Ratio of 6.40/1,000 SF


Page 8

• 15 Grade Level Loading Doors• Truck well / side loaded (modifiable)• 800 AMPS/120/208 Voltage• Approx. 2,000 feet of office space• Evaporative Cooled Warehouse• Drive around gated access• Large Rear yard


Investment Notes


Chandler, AZ 85225 - Chandler N/Gilbert Ind Submarket20,124 SF Class B Warehouse Building Built in 1999Property is for sale at $1,690,000 ($83.98/SF)

3295 N Nevada St - Interstate Brands (Former)

P T Property Services

Pat Takash

4715 N 32nd StSuite 100Phoenix, AZ 85018(602) 274-1500

Designated Broker(602) 274-1500 (phone)

8

Sale Price:

Cap Rate:Price/SF:

Sale Status:

$1,690,000

-$83.98

Active

Days On Market: 138

Sale Type: Investment OR Owner/UserSale Conditions: -

Bldg Type:

Owner Type:

Bldg Status:

BuildingFAR:

Warehouse

-

Built Nov 1999

0.22Stories: 1


Warehouse Avail: 20,124 SF2,000 SFOffice Avail:





% Leased: 0.0%RBA: 20,124 SF

Zoning: I-1, Chandler

Cross Docks:Crane: NoNone16'0"Ceiling Height:Column Spacing: -

MasonryConst Mat:Loading Docks: Yes

Drive Ins: 15 tot./8'0"w x 12'0"hRail Line: None


NoneRail Spots:

Lot Dimensions: -

Power: 800a/120-208v 3p

Features: Fenced Lot, Storage Units, Yard

Parcel Number: 302-24-376

Parking: 36 free Surface Spaces are available; Ratio of 1.79/1,000 SF


Page 9

AVAILABLEPERFORMANCE CENTER - MULTI-TENANT INDUSTRIAL334 W. 10th Avenue Mesa, AZ 85210

The information contained herein was obtained from sources deemed reliable; however, seller and/or its agent shall not be held responsible for errors or omissions. Subject to prior sale or withdrawal. Buyer to independently verify all pertinent information.

BAKER HARDISON DINSDALE MAIN 355.2222 DIRECT 968.3033

[email protected] [email protected] [email protected]

Offered at $999,000 ($54 PSF) Submit offers!

Property Summary Property Highlights

Size: 18,500± SF

Type: Multi-tenant

Bays: (10) 1,850± SF bays (each with small office,

bathroom and outside work area.

Zoning: C-3 (heavy commercial), City of Mesa

Built: 1984 (newer appearance)

Construction: Split-faced block

Clear Hgt: 18’

Roll-ups: (1) 10x12 door per suite

Parking: 3-4 uncovered spots per suite

2012 Taxes: $12,780

APN: 139-43-005-Q

Disclosure: Baker has an ownership interest in this

property along with 4 other investors.

Excellent income producing, multi-tenant industrial building less than 1 mile from US 60. This

property is 70% occupied and has very desirable small 1,850 sf bays with only 5% office. Most

tenants have been in the building for more that 5 years. The location is exceptional due to its

proximity to freeway and auto/cycle related demands.

Recent capital improvements includes: Parking lot reseal and strip, building paint, all curbing

replaced, vacant suites painted white, roof fully inspected and cleaned, new signage, sump

repairs, new sump pump, exterior wall height increase, landscaping, roof access created, all

exterior lighting replaced with more efficient units, retention basin improvements, and much more.

This property is now positioned for 100% occupancy with minimum improvements expected in the

near future.

Suites 2, 4 and 6 available for lease.

Interior View 1 Interior Office View


Exterior View 2



Exterior View 3

Floorplan

Suite 11,850 SF

Suite 21,850 SF

Suite 31,850 SF

Suite 41,850 SF

AVAILABLEFORLEASE

AVAILABLEFORLEASE

AVAILABLEFORLEASE

Suite 51,850 SF

Suite 61,850 SF

Suite 71,850 SF

Suite 81,850 SF

Suite 91,850 SF

Suite 101,850 SF

Performance Center

334 W 10th AveMesa, AZ 85210

Survey


Aerial Map



1868 EAST BROADWAY ROAD, TEMPE, ARIZONA

FOR SALE

BROADWAY RD.

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.

UNION PACIFIC RAILROAD

FEATURES

• 105,342 SF Factory/Warehouse• 19,950 SF Showroom/Office/ Warehouse/Retail • Zoned I-1• Rail Served• 6.39 Acre Parcel• Previously occupied by Dunn-Edwards

Allen [email protected]

Rick [email protected]

Bruce HeathcoteSenior Vice [email protected]

TWO BUILDINGS: 125,292 SF

“No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and availability are subject to change or withdrawal without notice.”

Allen [email protected]

325-375 EAST ELLIOT ROAD, CHANDLER, AZ

Sky HarborInt'l Airport

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CURRY RD.

Rick [email protected]

1868 EAST BROADWAY ROAD, TEMPE, ARIZONA

Bruce HeathcoteSenior Vice [email protected]

• Heavy Power

• 15’ - 17’ Clear Height

• Showroom Building - Air Conditioned

• Warehouse Building - Evap Cooled

• Centrally Located

• Conveniently located off the 101 freeway

and two (2) miles south of the 202 freeway

• Buildings may be sold separately

Conveniently

Fenced Yard & Heavy Power• +18,000 SF Building• +2,500SFOffice• +41,000 SF Site• Zoned I-2, City of Tempe• Four (4) Grade Level Doors• 14’ Clear Height• 2,400 Amps 3 Phase• Adjacent to Tempe Market Place• Great opportunity to be Owner/User and Landlord• LEASERATE:$.59/SFGross• PURCHASEPRICE:$1,710,000.00($97/SF)$1,170,000($65/SF)

Sky HarborInt'l Airport

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RIO SALADO PKWY.

SUBJECT

TJ [email protected]

“No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and avail-ability are subject to change or withdrawal without notice.”

205 South Industrial Drive, Tempe, AZ

FEATURES:

FREE STANDING BUILDING

TJ [email protected]

“No warranty or representation is made to the accuracy of the foregoing information. Terms of sale or lease and avail-ability are subject to change or withdrawal without notice.”

FREE STANDING BUILDING

RR

RR R/R

A/C MFG

OFFICE

OFFICERECEPTION

OFFICE

SHOWROOM OFFICE

OFFICE

OFFICE

CONF.ROOM

F

FOR SALE17,298 SF (+-)1.97 (+-) ACGilbert, AZ.

- Zoned L-I IndustrialCity of Gilbert

- Large Yard Area- Large 2-Story Office- Vehicle MaintenanceSpace

- Fenced and Gated- Covered Parking- 14FT. High Ceilings- Grade Level Loading- Entrances on bothMonterey and Neely

Sam SorensenSorensen and Black Inc.,

Phoenix, AZ602-369-4059 (Cell)602-256-9155602-279-5022(Fax)

While we believe that all the information as given and delivered is reliable, no warranties or representations are made tothe accuracy of this submission. It is the Buyer’s sole responsibility to independently verify all information

741 S. Monterey, Gilbert,AZ

Contact: Sam SorensenPhn: 602-256-9155 Cell: 602-279-5022

3295 North Nevada, Chandler, AZ

3295 North Nevada, Chandler, Arizona20,124 SQUARE FEET

For More Information Please Contact:

Pat Takash (602) 274-1500

4715 North 32nd Street, Suite 100, Phoenix, Arizona 85018While we believe all the information contained herein to be accurate we do not guarantee it

• 15 Grade Level Loading Doors• Truck well / side loaded (modifiable)• 800 AMPS/120/208 Voltage• Approx. 2,000 feet of office space• Evaporative Cooled Warehouse• Drive around gated access • Large Rear yard

Features:

[email protected]

BROKER OPINION OF VALUE


BROKER OPINION OF VALUE


Strengths & Weaknesses

When evaluating a property to determine the value and disposition aspects, we find it best to review the

strengths and weaknesses of that specific property. The following outlines some of the strengths and

weaknesses of the subject property.

Strengths

Location

» Located in the heart of Mesa

» Zoning allows for a wide variety of uses

» Two miles from US 60 Freeway

» Potential for retail or industrial uses

Surrounding Demographics

» Density of automotive uses

» Very strong historical population

» Number of employers existing in the area

» Newer developments attract growing labor-force and employer base

User Specific

» Existing paint booths

» Newer gas and downdraft paint booths

» Recently Permitted (No new requirements for improvement)

» Excellent Loading

Weaknesses

Older part of Mesa

Nontraditional buildout (Three Buildings)

A great portion of the value lies in the continued use of the existing improvements

Metal Roof (Portion)

Suggested Listed Sales Price:

$1,650,000

Automotive User Achievable Sales Price:

$1,450,000 - $1,550,000

Non-Automotive User Achievable Sales Price:

$1,250,000 - $1,450,000

Investor – Achievable Sales Price: $1,100,000

Marketing Strategy:

Canvass the existing owners and users in the area. Also,

market the building to the collision centers valley wide.

Consistent bi-weekly emails to over 300 brokers in the area.

Attend every tour of the facility to answer all questions.

INDUSTRIAL MARKET REPORT

The Phoenix industrial market continues to forge ahead by posting mostly positive indicators. From vacancy and absorption to construction activity, the industrial sector is riding a strong recovery. One only has to look at the market before the last recession to see similar indicators. From a record-high 17.6% vacancy rate in Q1 2010, it has managed to turn in a sub-12% vacancy rate with nearly 19 million SF absorbed over that time period. The one area that has yet to rise to pre-recession levels is asking rental rates. Although rates have inched up slowly over the past year and made some gains in several sectors, they are still not where most expect them to be. It is still a concern for lessors and investors alike. Tenants still enjoy the modest rates, but will not do so for too much longer. Construction activity remains strong, having grown steadily over the past two years and is the highest recorded activity since Q1 2008, but is still short of the exciting times of the commercial real estate run-up in 2006-2007. Building type and size have changed enormously since then, as well. Currently, most construction is focused on build-to-suit, large distribution and manufacturing facilities with an average building size of 409,059 SF. In contrast, Q3 2007 when spec industrial condos and multi-tenant spaces were in demand, the average construction property size totaled 66,250 SF. Today, with the increased demand for large distribution space, especially in the West Valley, several spec building projects have been announced while some have gone vertical. This trend will accelerate over the next few years. As the Valley housing market continues to roar back, it has propelled the overall

economy forward especially in the industrial sector. New homebuilding-related businesses that laid low during the housing collapse are returning to the market again. From cabinet, countertop and lighting manufacturers to door and window distributors, they are all scrambling for space to meet the increased demand. Much of that smaller space, especially under 50,000 SF, had been languishing. The improving economy has brought these smaller players back to the market and should put a dent in the inventory. Additionally, more creative

PHOENIX INDUSTRIALMARKET REPORT Q12013

www.leearizona.com | 1

Lee & Associates Arizona is part of the 46 office Lee national network.

Absorption 1,544,828 SF

Vacancy -80 basis points to 11.9%

Average RentNo change, $0.51/SF

Under Construction5,735,779 SF

New Supply Delivered447,792 SF

Sales Transactions $86 million

Average Sales PSF$55.45 PSF

Lease Activity2,320,704 SF

Unemployment Rate PHX Metro: 6.7% Arizona: 7.7% U.S.: 7.7%

Q1 TRENDS AT A GLANCE Positive Momentum in Industrial Should Build Throughout 2013

2.57M

1.54M

2.51M

-0.27M

1.90M

0.76M

0.00

0.50

1.00

1.50

2.00

2.50

3.00

Q411

Q112

Q212

Q312

Q412

Q113

ABSORPTIONin millions of SF

Q411

Q112

Q212

Q312

Q412

Q113

14.2% 14.2%

13.4% 13.2%12.7%

11.9%

VACANCY

2| www.leearizona.com

PHOENIX INDUSTRIAL MARKET REPORTQ12013

Property Name Address Submarket Type Tenant Name Square Feet Type6725 W. Allison Rd. 6725 W. Allison Rd., Chandler Chandler Warehouse Sound Packaging 105,000 Move inSun Distribution Center 5120 W. Buckeye Rd., Phoenix SW S of Buckeye Road Distribution Amcor Packaging 80,587 Move inBuckeye Industrial Center 2 5707 W. Buckeye Rd., Phoenix SW S of Buckeye Road Manufacturing Valley Palette 42,000 Move inPhoenix Tech Center 10230 S. 50th Pl., Phoenix Chandler Flex General Motors 40,586 Move in8800 N 22nd Ave. 8800 N. 22nd. Ave., Phoenix N. Black Canyon Flex Dept. of Economic Security 39,978 Move in475 W. Vaughn Dr. 475 N. Vaughn Dr., Tempe Tempe Southwest Warehouse VWR International 34,908 RenewalZ Fahrenheit Building 15690 N. 83rd Way., Scottsdale Scottsdale Airpark Warehouse Ridgeline Energy Services 34,000 Move inHayden Commerce Center 14000 N. Hayden Rd., Scottsdale Scottsdale Airpark Flex Ingram Micro 33,864 Move in

Property Address Buyer Seller Type Sales Price Square Feet PSF3200 W. Germann Rd., Chandler Digital Realty Trust, Inc. Amkor Technology Inc. Manufacturing $21,062,117* 201,398 $104.581840 N. 95th Ave., Phoenix Viawest Properties, LLC Carlson Real Estate, LLC Flex $12,646,018** 118,353 $105.285150 S. 48th St., Phoenix Robert Wells Family Partnership, LP Pantera Holdings, Inc. Flex $9,000,000 82,742 $108.775865 S. Kyrene Rd., Tempe Tidemann Properties, LLC Buchanan St. Partners Distribution $6,500,000 161,333 $40.608205 N. 67th Ave., Glendale CLK Developments AZ, LP Sto Corp. Storage $5,500,000 19,000 $289.477211 E. Southern Ave., Mesa Holuloa Clearview, LLC Case Huff & Associates Warehouse $3,149,000 19,491 $161.5612519 W. Butler Dr., El Mirage Dakota Fabricating, Inc. JDL & Co., LLC Manufacturing $2,700,000 44,090 $61.24353 N. 44th Ave., Phoenix R&B Wholesale Distributors Johnson Living Trust Warehouse $2,650,000 48,294 $54.87

*Multi property sale reflects exclusion of office property portion of transaction. **Multi property sale reflects exclusion of land parcel portion of transaction.

use of space by companies not pigeon-holed by a specifi c building type can fi nd bargains and innovative solutions for their unique space needs.

The Fundamentals The Phoenix industrial market posted an 11.9% vacancy rate, down 80-basis points from Q4 2012. This is the lowest posted vacancy rate since Q1 2008 when industrial vacancies began their steady rise. Net absorption remained strong this quarter at 1,579,608 SF. First quarter absorption fi gures tend to bottom out after high activity at the previous years’ end. However, this is the best fi rst quarter absorption rate since Q1 2007.

Deal velocity was somewhat weak during the quarter with just over 500 transactions and 2.3 million SF leased. There were 4 deliveries this quarter totaling 447,792 SF. There was an increase in construction activity from last quarter totaling 14 properties at 5,735,779 SF. Asking rental rates remained essentially unchanged at $0.51 per square foot (monthly) although several submarkets showed increasing rates.

The largest industrial lease transaction for the quarter was 105,000 SF for Sound Packaging at 6725 W. Allison Rd., Chandler. The largest sale transaction for the quarter was the purchase by Digital Realty Trust of 3200 W. Germann Rd., Chandler for $21.1 million from Amkor Technology,

Inc. The 201,388 SF property posted an allocated price per square foot of $104.58. Sales velocity posted a disappointing $86 million in transaction volume this quarter compared to last quarter’s $187.4 million.

Overview The Phoenix industrial sector is in the strongest shape it has been in over 5 years. Most market indicators are pointing in the right direction. Despite some uncertainty on the national political stage, investors, small business owners and lenders alike are ready to moving forward. Arizona’s economy has been rebounding well. With abundant land, low development costs and an aggressive campaign to lure out-of-state businesses here, the outlook looks strong.

Q1 2013 TOP LEASES

continued from Page 1

4.6M5.4M

7.4M

4.3M

3.5M3.0M

1.02.03.04.05.06.07.08.0

Q211

Q311

Q411

Q112

Q212

Q312

LEASING ACTIVITYin total SF leased

$0.45$0.46$0.47$0.48$0.49$0.50$0.51$0.52

Q411

Q112

Q212

Q312

Q412

Q113

$0.49$0.50

$0.51 $0.51 $0.51 $0.51

RENTAL RATESAverage per SF, per month

Q1 2013 TOP SALES

1.50

2.50

3.50

4.50

5.50

6.50

Q411

Q112

Q212

Q312

Q412

Q113

3.1M3.6M 3.4M

4.0M

4.8M

5.7M

CONSTRUCTION ACTIVITYin millions of SF

www.leearizona.com | 3

Q12013PHOENIX INDUSTRIAL MARKET REPORT

The information and details contained herein have been obtained from third-party sources believed to be reliable; however, Lee & Associates Arizona has not independently verifi ed its accuracy. Lee & Associates Arizona makes no representations, guarantees, or express or implied warranties of any kind regarding the accuracy or completeness of the information and details provided herein, including but not limited to the implied warranty of suitability and fi tness for a particular purpose.

Interested parties should perform their own due diligence regarding the accuracy of the information. The information provided herein, including any sale or lease terms, is being provided subject to errors, omissions, changes of price or conditions, prior sale or lease, and withdrawal without notice.

Further, data sources are continually revised and re-benchmarked, causing both historical and for-ecast information, data and analysis to change as new information is added. Third-party data sources: CoStar Group, Inc., Institute for Supply Management, Moody’s Economy.com, Nielsen/Claritas, Real Capital Analytics, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, U.S. Census Bureau, U.S. Department of Commerce.

Industrial market statistics are compiled using a third-party database for the analysis of over 8,700 distribution, fl ex, manufacturing and warehouse buildings in the Phoenix Metropolitan Area.

© Copyright 2013 Lee & Associates Arizona. All rights reserved.

ABOUT LEE & ASSOCIATES Founded in 1979, Lee & Associates is oneof the largest commercial real estate services companies in the United States with 46 offi ces. Our seasoned shareholders and professionals offer comprehensive brokerage and advisory services. We develop customized solutions for all of your real estate needs through our market-to-market knowledge and versatility across all property types. Our unique business model of broker-ownership and extensive experience has helped us become one of the largest and most highly regarded commercial real estate provid-ers in Arizona and the nation.

Total Net Absorption Under Asking

Submarkets Inventory Total SF Q113 Q113 YTD Total Construction Q113 YTD NNN Rate

Sky Harbor Airport Area

Distribution/Warehouse 31,868,406 3,731,658 11.7% 249,798 249,798 30,000 - - $0.43Manufacturing 8,878,988 1,181,034 13.3% (80,040) (80,040) - - - $0.43Flex 4,890,406 766,737 15.7% 12,190 12,190 155,000 - $0.84Total 45,637,800 5,679,429 12.4% 181,948 181,948 185,000 - - $0.51

Northeast Valley

Distribution/Warehouse 7,260,812 774,436 10.7% 18,228 18,228 - - - $0.75Manufacturing 3,054,410 71,684 2.3% 73,905 73,905 - - - $0.52Flex 5,242,430 1,076,120 20.5% (8,395) (8,395) - - - $0.67Total 15,557,652 1,922,240 12.4% 83,738 83,738 - - - $0.79

Northwest Valley

Distribution/Warehouse 36,232,060 3,257,313 9.0% 326,229 326,229 418,000 - - $0.48Manufacturing 10,737,089 767,328 7.1% 115,987 115,987 164,000 - - $0.54Flex 6,500,742 1,557,687 24.0% 172,766 172,766 - - - $0.94Total 53,469,891 5,582,328 10.4% 614,982 614,982 582,000 - - $0.65

Southeast Valley

Distribution/Warehouse 46,796,680 5,822,179 12.4% 260,767 260,767 - 315,992 315,992 $0.52Manufacturing 22,674,047 2,104,970 9.3% 163,019 163,019 1,285,000 - - $0.56Flex 14,478,845 2,746,015 19.0% 85,556 85,556 91,700 131,800 131,800 $0.88Total 83,949,572 10,673,164 12.7% 509,342 509,342 1,376,700 447,792 447,792 $0.61

Southwest Valley

Distribution/Warehouse 63,390,995 6,188,696 9.8% 198,061 198,061 3,592,079 - - $0.34Manufacturing 11,756,731 2,228,453 19.0% 72,609 72,609 - - - $0.31Flex 1,342,597 378,012 28.2% 2,984 2,984 - - - $0.74Total 76,490,323 8,795,161 11.5% 273,654 273,654 3,592,079 - - $0.32

Total Submarkets

Distribution/Warehouse 185,548,953 19,774,282 10.7% 1,053,083 1,053,083 4,040,079 315,992 315,992 $0.34Manufacturing 57,101,265 6,353,469 11.1% 345,480 345,480 1,449,000 - - $0.45Flex 32,455,020 6,524,571 20.1% 146,265 146,265 246,700 131,800 131,800 $0.88Phoenix Metro 275,105,238 32,652,322 11.9% 1,544,828 1,544,828 5,735,779 447,792 447,792 $0.51

Vacancy Building Completions

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| www.leearizona.com4

Airport Area Submarket - N. Airport - S. Airport N. of Roeser - S. Airport S. of Roeser - SC. N. of Salt River - SC. S. of Salt River Northeast Submarket - Central Phoenix - Scottsdale Airpark - S. Airport S. of Roeser - Scottsdale/Salt River Northwest Submarket - Deer Valley/Pinnacle Peak - Grand Ave. - N. Black Canyon - N. Glendale/Sun City - W. Phx N. of Thomas Rd. - W. Phx S. of Thomas Rd. Southeast Submarket - Chandler - Chandler Airport - Chandler N./Gilbert - Falcon Field/Apache Junction - Mesa - Tempe East - Tempe Northwest - Tempe Southwest Submarket - Goodyear - SW. N. of Buckeye Rd. - SW. S. of Buckeye Rd. - Tolleson

3200 E. Camelback Road, Suite 100, Phoenix, AZ 85018Offi ce: 602.956.7777 | Fax: 602.954.0510

Contact a Lee & Associates broker who can provide you with the most comprehensive mar-ket knowledge and expertise in the business. We specialize in:

Build-to-Suit- For Lease- For Sale- Facility Specifi cation- Bidding & Design Build Construction- Expansion Planning

Fair Market Value Analysis- Valuation of Land

- Valuation of Buildings and - Other Improvements

Financial Analysis of Alternatives- Comparing Alternative Proposals- Purchase vs. Lease Analysis- Existing Building Search

Site Search- Site Selection Criteria- Development & Analysis

Sale-Leaseback- Institutional Investors- Private Investors

Disposition of Existing Buildings- Locally & Nationally - REO & Distressed-Asset - Valuation & Sales

LOOK TO LEE & ASSOCIATES ARIZONA FOR SOLUTIONS

PHOENIX INDUSTRIALMARKET REPORT Q12013

Report prepared by: Matt DePinto, Senior Research AnalystFollow us on:

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PHOENIX INDUSTRIAL SUBMARKET CLUSTERS

60

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$50.0$100.0$150.0$200.0$250.0$300.0$350.0

Q411

Q112

Q212

Q312

Q412

Q113

SALES VOLUMEin millions of SF

Sales Volume No. of Transactions

broker opinion of value and marketing planpdf.leeazmail.com/pdfs/industrial/tjs/33 w broadway road -...

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