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Arizona Commercial Mortgage Lenders Association

Arizona Commercial Mortgage Lenders Association. Presented by: Kevin Lange Associate and Kim Soul é Vice President. Phoenix Office Market: The Good, the Bad, and the Ugly. * Source: COStar www.costar.com. Office Stats. * Source: Colliers International Research. Forecast Report.

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Arizona Commercial Mortgage Lenders Association

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  1. Arizona Commercial Mortgage Lenders Association Presented by: Kevin Lange Associate and Kim Soulé Vice President Phoenix Office Market: The Good, the Bad, and the Ugly

  2. * Source: COStar www.costar.com

  3. Office Stats * Source: Colliers International Research

  4. Forecast Report

  5. The Future of Greater Phoenix- Downtown Phoenix

  6. Sales History “Toto, I’ve a feeling we are not in Kansas anymore.”

  7. Number of Transactions All Transactions are reflective of buildings 20,000 square feet and up * Source: CoStar www.costar.com

  8. Dollar Volume * Source: CoStar www.costar.com

  9. Price per Square Foot * Source: CoStar www.costar.com

  10. Cap Rates * Source: CoStar www.costar.com

  11. Did we hit the target?

  12. Notable Transactions: Address Sale Date Size Sale Price Profit 444 N. 44th Street 12/30/04 138,240 $ 20,500,000 06/08/06 $ 27,200,000 32% 14300 N. Northsight Blvd 04/11/05 71,462 $ 16,350,000 08/31/07 $ 22,375,000 36% 1 N. 1st Street 09/30/04 127,313 $ 5,900,000 11/08/06 $ 10,300,000 75% 111 W. Monroe 04/25/05 244,651 $ 20,000,000 01/23/07 $ 40,000,000 100% 14350 N. 87th 12/15/04 135,000 $ 19,000,000 06/13/06 $ 39,001,072 105% * Source: CoStar www.costar.com

  13. Notable Transactions (cont.): Address Sale Date Size Sale Price Profit 3707 N. 7th Street 03/28/06 53,139 $ 3,385,000 08/29/07 $ 7,600,000 124% 714 E. Van Buren 07/21/04 30,183 $ 3,000,000 07/31/07 $ 8,932,680 197% 5353 W. Bell 05/24/05 206,155 $ 9,950,000 02/01/08 $ 44,800,000 350% 201 N. Central Avenue 10/06/06 723,922 $103,048,050 03/22/07 $166,930,000 62% * Source: CoStar www.costar.com

  14. Future Predictions

  15. Insert movie clip - Thelma

  16. Insert movie clip - Thelma

  17. Future Predictions 2009-2010 • Transactions will increase over 2008 figures by • 150% due to foreclosures and bank sales • (48 transactions were completed in 2008) • Market rents will decrease by 25% • (Average market rents for 2008 was $26.00/full service-direct leases only) • Price per square foot will level around $170 • ($230.24 per square foot average 2008) • Cap rates will climb to 9.5%-10.5% • (7.0% in 2008)

  18. Insert movie clip - Planes

  19. Insert movie clip - Planes

  20. Thank you Kevin Lange 602.222.5160 Kim Soulé 602.222.5047

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