As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.
Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.
Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.
It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!
- The Team at ABI Multifamily
ALTA Warehouse (Land) | 600 West Lincoln Street, Phoenix, AZ 85003 | $6,080,000 | $19.04 Per Land SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Ariz. – May 2, 2019: ABI Multifamily – the Western US's leading multifamily brokerage and advisory services firm – has announced the $6,080,000, $829,468/acre, $19.04/SF closing of land for the future home of ALTA Warehouse, a planned multifamily development in Phoenix, Ariz.
Located at 600 West Lincoln Street, the 7.33-acre site in a designated Opportunity Zone is one of the largest still vacant spaces in the highly revitalized Warehouse District of Downtown Phoenix. The ABI Multifamily Team of VPs Patrick Burch and John Klocek worked on behalf of the Buyer – Wood Partners, developers of the ALTA brand of luxury apartments.
The preliminary plan for the site consists of 300 units in three 3-4-story buildings. A clubhouse and other common amenities are currently planned, as are 55 tuck-under garages at the first floor level.
Wood Partners has offices in 18 major U.S. markets. The firm’s website lists nine properties in the Greater Phoenix area, eight of which are under the ALTA brand. The company was recently ranked second in the National Multifamily Housing Council’s list of 2019 Top Developers and third on its list of Top Builders.
“This transaction is a great move for both Wood Partners and for the ongoing redevelopment and renovation of the downtown Warehouse District,” Burch said.
“The Warehouse District has become a central hub for technology and innovation companies in the Phoenix area, and one of the major drivers in Downtown’s emergence as a top draw,” Klocek added. “By bringing ALTA Warehouse into the mix, Wood Partners is enhancing the depth of the region’s attractiveness and contributing to its evolution toward a 24-hour area.”
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.