mountain creek apartments investment property offering5 rent comparables adjusted monthly rent...

Investment Property Offering

A 38 Unit Apartment Complex Located in Phoenix, ArizonaDistressed Asset Receivership Sale - Call for Offers April 30, 2010

Mountain Creek Apartments

1222 E. Mountain View Road Phoenix, AZ

Bill Hahn Senior Vice President 602 222 5105 – Direct 602 418 9578– [email protected]

Jeffrey Sherman Senior Associate 602 222 5109 – Direct602 694 1127 – [email protected]

Trevor Koskovich Senior Associate602 222 5145 – Direct480 227 7420 - [email protected]

www.colliers.com/phoenix

Table of Contents I Executive Summary 1

II Financial Summary 3

III Comparables Rent 5 Sales 8

IV Property Photos 11

V Location Maps Aerial Far 12 Aerial Close 13 Parcel Map 14 VI Appendix Legal Disclaimer

Location 1222 East Mountain View Road Phoenix, Arizona 85020

List Price $850,000

Price Per Unit $22,368

Price Per Square Foot $28.57

Total Units 38

Building Square Footage 29,754

Number of Buildings 2

Land Acres 1.46

Executive Summary

EXECUTIVE SUMMARY | COLLIERS INTERNATIONAL | 1

Cross Street Cave Creek Road & Mountain View Road

Market Phoenix

Sub Market Piestewa Peak Corridor

Year Built 1985

Building Class B

Location Class C

HVAC Individual

Tax Parcel Number 159-30-111 to 159-30-130

Foundation Type Concrete Slab

Number of Stories 2

Current Cap Rate 6%

Stabilized Cap Rate 11%

Campus LoftsApartments

1116 East Lemon Street Tempe, AZ

Mountain CreekApartments


EXECUTIVE SUMMARY | COLLIERS INTERNATIONAL | 2

Executive Summary

AREA DESCRIPTION

The Mountain Creek Apartments is located at 1222 E. Mountain View Rd., Phoenix, Arizona, approximately one block from Cave Creek Road, a major city thoroughfare. This locale places residents of Mountain Creek Apartments within close proximity to the metro Phoenix freeway system. The interchange with SR-51 freeway is located within three miles of the property, giving residents complete access to the metropolitan area. A city park and a major chain grocery store are located less than a block away, as is a city bus line. Major employers in the immediate area include John C. Lincoln Hospital, Home Depot, and numerous other retail outlets.

The area immediately surrounding Mountain Creek Apartments is primarily commercial properties and single-family.

The property is condo mapped and was recently updated with remodeled interiors, exterior paint, and a stack stone trim facade. Mountain Creek represents a true turn-key investment opportunity.

PROPERTY DESCRIPTION

Mountain Creek Apartments is a two-story apartment community built in 1985, comprising 37 two-bedroom / one-bathroom rental units and 1 one-bedroom / one-bathroom rental unit. All units are rented unfurnished. Construction is wood frame and stucco, with pitched roofs. All units are individually-metered for utilities. The owner is responsible for water, sewer, and trash collection. Heating and cooling are provided by roof mounted individual HVAC units. Outdoor amenities include a swimming pool, on-site laundry facility, and dedicated parking spaces for residents. Unit amenities include all-electric kitchens and cable television. The desert landscaping on the property requires low maintenance and very little water. The 62 parking spaces create a parking ratio of 1.57 spaces to each unit. A rental office is located on property and security is enhanced with a gated entrance.

There are two buildings in the Mountain Creek Apartments complex which are perpendicular to Mountain View Road. They are constructed on a rectangular site comprising approximately 1.46 acres, and provide 29,754 rentable square feet.





Current Financial Summary

FINANCIAL SUMMARY | COLLIERS INTERNATIONAL | 3

Year Built 1985

Total Units Total Square Feet38 29,754

Units Type Sq. Ft. Actual RentEstimated Current

37 2BD/1BA 783 $600 22,200$ 1 1BD/1BA 600 $500 500$

Monthly Scheduled Gross Rent 22,700$

Annual Scheduled Gross Rent Current 272,400$ Physical Vacancy 31.0% (84,444)$ Economic Vacancy* 8.0% (21,792)$ *Concessions, Credit Loss, etc.

Total Vacancy 39.0% (106,236)$ Net Rental Income 166,164$

Other Income ($10 per month per occupied unit) 2,760$

Gross Operating Income 168,924$

OPERATING EXPENSESProperty Taxes * Actual 2009 Taxes 16,927$ Insurance *Estimated At $200/unit 7,600$ Maintenance *Estimated At $500/unit 19,000$ Repairs *Estimated At $400/unit 15,200$ Electricity *Estimated At $150/unit 5,700$ Sewer and Water *Estimated At $300/unit 11,400$ Trash *Estimated At $100/unit 3,800$ Payroll *Estimated At $800/unit 30,400$ Management Fee *Estimated To be 4% of Collected Rent 6,757$ Administrative Expenses *Estimated At $115/unit 4,370$ Capital Reserve *Estimated At $250/unit 9,500$ Total Operating Expenses 130,654$

Operating Cost Per Unit 3,438$ Operating Cost Per Sq Ft 4.39$

Net Operating Income 38,270$

Note: Actual rent and physical vacancy are derived from the March, 2010, rent roll supplied by the property manager. Current vacant units are offered at $500 per month with one free

month to facilitate a lease up.

Projected Financial Summary18 Month Time Frame

FINANCIAL SUMMARY | COLLIERS INTERNATIONAL | 4

Year Built 1985

Total Units Total Square Feet38 29,754

Units Type Sq. Ft. Actual RentEstimated Current

37 2BD/1BA 783 $575 21,275$ 1 1BD/1BA 600 $500 500$

Monthly Scheduled Gross Rent 21,775$

Annual Scheduled Gross Rent 261,300$ Physical Vacancy 10.0% (26,130)$ Economic Vacancy* 8.0% (20,904)$ *Concessions, Credit Loss, etc.

Total Vacancy 18.0% (47,034)$ Net Rental Income 214,266$

Other Income ($10 per month per occupied unit) 3,840$

Gross Operating Income 218,106$

OPERATING EXPENSESProperty Taxes * Actual 2009 Taxes 16,927$ Insurance *Estimated At $200/unit 7,600$ Maintenance *Estimated At $500/unit 19,000$ Repairs *Estimated At $400/unit 15,200$ Electricity *Estimated At $150/unit 5,700$ Sewer and Water *Estimated At $300/unit 11,400$ Trash *Estimated At $100/unit 3,800$ Payroll *Estimated At $800/unit 30,400$ Management Fee *Estimated To be 4% of Collected Rent 8,571$ Administrative Expenses *Estimated At $115/unit 4,370$ Capital Reserve *Estimated At $250/unit 9,500$ Total Operating Expenses 132,468$

Operating Cost Per Unit 3,486$ Operating Cost Per Sq Ft 4.45$

Net Operating Income 85,638$

Note: Rents vacancy and expenses are projected, except for property taxes, which are quoted from Maricopa County Treasurers Office.



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75th

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83rd

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Lower Buckeye Rd

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Beloat Rd

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43rd

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118t

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McDowell Rd

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Lower Buckeye Rd

Elliot Rd

RainbowValley Rd

Tuth

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Narramore Rd

Ray Rd

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171s

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203r

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Ocotillo Rd

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Riggs Rd

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Ocotillo Rd

Skyline Dr

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Indian Route 60

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211t

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Dove Valley Rd

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Patton Rd

195t

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Jomax Rd

Happy Valley Rd

Deer Valley Rd

136t

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Lone Mountain Rd

144t

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160t

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168t

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174t

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152n

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128t

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Bulla

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Wickenburg Hwy

Grand Ave

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Buckeye Rd

Main St

Black Canyon Hwy

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Jack

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Patterson Rd

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WildlifeWorld Zoo

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Harrahs/Gila R iverCasinos

Arizona Biltmo reCountry Club

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COMPARABLES | COLLIERS INTERNATIONAL | 6

Rent Comparable Map

1. Subject Property Mountain Creek Apartments 1222 E. Mountain View Rd. | Phoenix, AZ

2 Ironwood 9802 N. 9th Ave | Phoenix, AZ

3 Palm Meadows 9423 N. 17th Ave. | Phoenix, AZ

4 Villa Mira Monte Apartments 1737 W Desert Cove Ave | Phoenix, AZ

5 Mission Place 602 E. Mission Ln. | Phoenix, AZ

2 1

43

5



MARKET SYNOPSIS | COLLIERS INTERNATIONAL | 7

Subject Property Comparison

Note - “Adjusted Monthly Rent” is the effective rent received by the property owner after adjusting for any rental concessions, on an assumed one-year lease. By way of example, if the quoted marketrent is $600 per month, and one month is free with a twelve-month lease, the Adjusted Monthly Rent is $550 ( ($600 X 11) / 12 ).

Unit Mix Total Units S.F. Monthly Rent

MonthlyRent / S.F.

AdjustedMonthly

Rent

Adjusted Rent / S.F.

2 Bed, 1 Bath 38 738 600$ 0.81$ 555$ 0.75$ Totals/Averages 38 738 600$ 0.81$ 555$ 0.75$

Comparables Property SummaryUnit Mix Total Units S.F. Monthly

RentMonthly

Rent / S.F.AdjustedMonthly

Rent

Adjusted Rent / S.F.

1 Bed, 1 Bath 46 638 405$ 0.63$ 381$ 0.60$ 2 Bed, 1 Bath 88 749 575$ 0.77$ 535$ 0.71$ 2 Bed, 2 Bath 128 805 552$ 0.69$ 528$ 0.66$ 3 Bed, 1 Bath 7 952 689$ 0.72$ 640$ 0.67$ Totals/Averages 269 762 538$ 0.70$ 508$ 0.67$




Sales Comparables

PropertyLocation

YearBuilt

#Units Unit Mix

SalesPrice

Price/Unit Price/SF

Close of Escrow

PropertyPhotograph

2316-2318 E. Roosevelt St. 1949 14 14 Studios 470,000$ $33,571 $26.51 10/7/2009Phoenix, AZ 85006

Garden Cove 1976 44 1 1BD/1BA 1,500,000$ $34,091 $41.20 10/15/20091626 W. Desert Cove Ave. 43 2BD/1BAPhoenix, AZ 85029

Alice Apartments 1964 10 8 1BD/1BA 225,000$ $22,500 $34.09 10/16/2009207 E Alice Ave 2 2BD/1BAPhoenix, AZ 85020

Vallejo Apartments 1961 24 23 1BD/1BA 615,000$ $25,625 $49.36 10/29/20091827 E. Lemon Street 1 2BD/1BATempe, AZ 85281

Royal 8th Avenue 1963 36 16 1BD/1BA 975,000$ $27,083 $36.07 11/24/20094435-4436 N. 8th Avenue 18 2BD/2BAPhoenix, AZ 85013 2 3BD/2BA

Strakas Apartments 1981 12 12 2BD/1BA 344,333$ $28,694 $30.20 11/25/20091207 E. Jarvis AvenueMesa, AZ 85204

Camelback Gardens 1965 16 1 1BD/1BA 375,000$ $23,438 $28.52 12/18/20095110 N. 21st Ave. 15 2BD/1BAPhoenix, AZ 85015





Sales Comparables


PropertyLocation

YearBuilt

#Units Unit Mix

SalesPrice

Price/Unit Price/SF

Close of Escrow

PropertyPhotograph

Franciscan Apartments 1965 28 28 Studio 925,000$ $33,036 $36.71 12/23/20096807 N. 45th Ave.Glendale, AZ 85301

Casa Blanca 1985 21 11 1BD/1BA 550,000$ $26,190 $41.72 1/21/20103131 N Black Canyon Hwy 10 2BD/1BAPhoenix, AZ 85015

Highland Park 1974 70 36 1BD/1BA 1,625,000$ $23,214 $31.04 1/25/20107232 N. 27th Ave. 34 2BD/1BAPhoenix, AZ 85051

Montego Apartments 1979 14 13 2BD/1BA 470,000$ $33,571 $38.76 2/24/20103029 N 38th Street 1 3BD/2BAPhoenix, AZ 85018

Villa Serena 1963 16 4 1BD/1BA 420,000$ $26,250 $23.21 2/24/20106802 N 17th Ave 12 2BD/1.5BAPhoenix, AZ 85015

3011 N 38th Street 1971 15 13 1BD/1BA 330,000$ $22,000 $38.24 2/242010Phoenix, AZ 85018 1 2BD/1BA

1 2BD/2BA

Pierson Apartments 1958 12 4 1BD/1BA 429,000$ $35,750 $41.24 2/26/2010605 W Pierson Street 4 2BD/1BAPhoenix, AZ 85015 4 3BD/2BA

AVERAGES 1968 24 660,952$ 28,215$ $35.49

Sold By Colliers HSK Multifamily Specialists


Sales Comparables Map

1. Subject Property Mountain Creek Apartments 1222 E. Mountain View Rd. | Phoenix, AZ

2 2316-2318 E. Roosevelt St. | Phoenix, AZ

3 Garden Cove 1626 W. Desert Cove Ave. | Phoenix, AZ

4 Alice Apartments 207 E Alice Ave | Phoenix, AZ

5 Vallejo Apartments 1827 E. Lemon Street | Tempe, AZ

6 Royal 8th Avenue 4435-4436 N. 8th Avenue | Phoenix, AZ

7 Strakas Apartments 1207 E. Jarvis Avenue | Mesa, AZ

8 Camelback Gardens 5110 N. 21st Ave. | Phoenix, AZ

9 Franciscan Apartments 6807 N. 45th Ave. | Glendale, AZ

10 Casa Blanca 3131 N Black Canyon Hwy | Phoenix, AZ

11 Highland Park 7232 N. 27th Ave. | Phoenix, AZ

12 Montego Apartments 806 E. Carol Ave. | Phoenix, AZ

13 Villa Serena 6802 N 17th Ave | Phoenix, AZ

14 3011 N 38th Street | Phoenix, AZ

15 Pierson Apartments 605 W Pierson Street | Phoenix, AZ

21

4

Moon ValleyCountry Club

North/SouthGC

Quail RunGC Scottsdale Country Club

Sun CityCC

CountryMeadows GC

StateCapitol

AmericaWest Arena

Tempe DiabloStadium

Salt R iver Pima-MaricopaIndian Rese rvation

Fort McD owellMohave-Apache

Indian Rese rvation

Gila R iverIndian Rese rvation

Lost DutchmanState Park

Est rella MountainRegional Park

Phoenix South Mountain Park

TontoNat'l

Forest

McD owellMountain

Park

ThunderbirdPark

White TankMountain

Regional Park

LakePleasant

BartlettReservoir

Agua

Fria R

iver

Verde Rive

r

New

River

LakeBonita

Trilby WashDetention Basin

SaquaroLake

Salt River

Salt River

CanyonLake

Gila River

CanyonLake

Cave

Cre

ek

Gila River

Verde River

Verde River

Syca

more

Cre

ek

Alder Creek

Skun

k Cree

k

Cave Creek

Syca

more Cr

eek

Queen Creek

Beeli

ne H

wy

Beeli

ne H

wy

New R

iver R

d

7th

St7t

h St

7th

St7t

h St

Irvine Rd

7thA

ve7t

h Ave

7th A

ve

Cave

Cre

ek R

d

Scot

tsdale

Rd

Scot

tsdale

Rd

Pim

a Rd

56th

St

Carefree Hwy

Dove Valley Rd

Lone Mtn Rd

Morristown Hwy

Carefree Hwy

Scot

tsdale

Rd

Lake

Plea

sant

Rd

Cave

Cree

k Rd

Tatu

m B

lvdTa

tum

Blvd

Dynamite Blvd

Dixileta Dr

Lone Mountain Rd

Happy Valley Rd

51st

Ave

51st

Ave

51st

Ave

19th

Ave

67th

Ave

67th

Ave

67th

Ave

35th

Ave

83rd

Ave

83rd

Ave

Pinnacle Peak Rd Pinnacle Peak Rd

Jomax Rd

Pinnacle Peak Rd

Pinnacle Peak Rd

59th

Ave

40th

St

Deer Valley Rd

Canal

Rd

Deer Valley Rd

75th

Ave

75th

Ave

Johnson Blvd

El M

irage

Rd

Beardsley RdBeardsley RdBeardsley Rd

43rd

Ave

32nd

St

32nd

St

99th

Ave

91st

Ave

91st

Ave

107t

hAve

107t

h Ave


El M

irage

Rd

Bell RdBell RdBell Rd

64th

St

64th

St

64th

St

56th

St

Dysa

rt Rd

Surp

riseA

ve

Hayd

en R

d

Bush Hwy

Greenway RdGreenway

RdGreenway Rd

Bear

dsley

Can

al Rd

Fountain

Hills Blvd

59th

Ave

Palisades

Blvd

Thunderbird RdThunderbird Rd Thunderbird Rd

111t

hAve

Sweetwater Ave

24th

St

24th

St

Cactus RdCactus Rd 66th StCactus Rd

108t

h St

96th

St PalominoBlvd Kingstree

BlvdShea BlvdPeoria Ave

44th

St

Via Linda

Mountain View Rd

104t

h St

Doubletree Ranch RdDunlap AveOlive Ave

Cent

ralA

ve

27th

Ave

Via DeVentura

Beeline Hwy

Northern Ave

16th

St

Litch

field

Rd

Glendale Ave

Lincoln Dr

63rd

Ave

105t

h Ave

Inve

rgor

don

Rd

Mcdonald DrBethany Home Rd

20th

St

Bush Hwy

Camelback RdCamelback Rd

Pim

a Rd

Pim

a Fr

wy

Pima Frwy

Indian School Rd

Papago Frwy

Indian School RdIndian School Rd

Osborn Rd

Reck

er R

d

Thomas Rd

Powe

r Rd

Thomas Rd

115t

hAve

Grand Ave

Encanto Blvd Oak St

52nd

St

Reem

s Rd

195t

h Ave

Tuth

ill Rd

Mcdowell Rd Mcdowell RdMcdowell Rd

ValV

ista

Dr

Higle

y Rd

Colle

geAv

e

Mckellips Rd

Red Mountain Frwy

Maricopa Frwy

Santan Frwy

Mckellips RdVan Buren St

Mcc

linto

ck D

rBuckeye Rd

99th

Ave

Stap

ley D

r

Washington St

7thA

ve7t

hAve

19th

Ave

Cent

ral A

ve

7th

St

24th St

24th

St

59th

Ave

User

y Pas

s Rd

91st

Ave

51st

Ave

35th

Ave

Curry Rd

Jack

rabb

it Trl

Sky Harbor Blvd Brown RdBrown RdYuma Rd

Cotto

n Ln

Western Ave

Mill

Ave

Pries

t Dr

Rura

l Rd

Mcc

linto

ck D

r

Estre

lla P

kwy

Estre

lla P

kwy

University Dr University Dr

Dobs

on R

dDo

bson

Rd

Hard

y Dr

40th

St

40th

St

52nd

St Main StMain StMain St Apache TrlApache Blvd

Linds

ay R

d

Alm

a Sc

hool

RdAl

ma

Scho

ol Rd

Mes

a Dr

Powe

r Rd

Coun

try C

lub D

r

Gilbe

rt Rd

Gree

nfiel

d Rd

Crism

on R

d

48th

St

48th

St

Broadway Rd Broadway RdBroadway Rd Broadway Ave

32nd

St

32nd

St

Soss

aman

Rd Pueblo Rd

Southern AveSouthern AveSouthern Ave

Baseline Rd Baseline RdBaseline Rd Baseline Rd

Mcq

ueen

Rd

20th

St

Guadalupe Rd Guadalupe RdDobbins Rd

44th

St

Price

Frw

y

Elliot Rd Elliot RdCo

oper

Rd

Warner Rd

Ellsw

orth

Rd

Ray Rd

Rura

l Rd

Ray Rd

Williams Field RdChandler BlvdChandlerBlvd Ar

izona

Ave

Dese

rt Fo

othil

lsPk

wy

Liberty LnPecos Rd

Pecos Rd

Mar

icopa

Rd

Higle

y Rd

Beltline Road

Queen Creek RdQueen Creek Rd

Gilbe

rt Rd

Gilbe

rt Rd

Mer

idian

Rd

Alm

a Sc

hool

Rd

Riggs Rd

Price

Rd

Dobs

on R

d

Hunt HwyHunt Hwy

Apache

Trl

Mckellips Blvd

Corte

z Rd

Ironw

ood

Dr

Mer

idian

Rd

Idah

o Rd

Lost Dutchman Blvd

Superstition Blvd

Holm

es R

d

Mou

ntain

View

RdOld West Hwy

Goldf

ield

Rd

Tom

ahaw

k Rd

Southern Ave

Moe

ur R

d

Mou

ntain

Rd

Vine

yard

Rd

Vine

yard

Rd

Indian Rt 3

Combs Rd

Schn

epf R

d

Hunt Hwy

Queen Creek Rd

Quail

Run

Ln

128th

Ave

Stardust Blvd

DelW

ebb Bl

vd Greenway Pkwy

Cave Creek Rd

Frank Lloyd Wright Blvd

SaguaroBlvd

WarnerEl

liot L

oop

Jomax Rd

Citru

s Rd

Waddell Rd

Glendale Ave

Camelback Rd

Perry

ville

Rd Thomas Rd Thomas Rd

Sunri

se B

lvd


Greenway Rd

Cotto

n Ln

Sariv

alAv

e

Reem

s Rd

Bulla

rdAv

e

Litch

field

Rd

Cactus Rd

Peoria Ave

Linds

ay R

d

Reck

er R

dRe

cker

Rd

Soss

aman

Rd

Hawe

s Rd

Crimson Rd

Coop

er R

d

ValV

ista

Dr

Rittenhouse Rd

Gree

nfiel

d Rd Pecos Rd

Mcq

ueen

Rd

Germann Rd

Queen Creek Rd

Crism

on R

d

Reeb

s Rd

Ocotillo Rd

Chandler Heights Rd

Riggs Rd

Germann Rd

Pima Rd

Kenw

orth

y Rd

Ocotillo Rd

Mes

a Rd

Coun

try C

lub D

r

Indian School Rd

Thomas Rd

Indian Bend Rd

CanalBank Rd

Hawe

s Rd

Germann Rd

Pries

t Dr

Kyre

ne R

d

75thAve

27th

Ave

35th

Ave

Dobbins Rd

Elliot Rd

75th

Ave

Elliot Rd 59th

Ave

Carver Rd

Estrella Dr

Saint Johns

Mission Rd

Pecos Rd

43rd

Ave

75th

Ave

67th

Ave

83rd

Ave

Lower Buckeye Rd

107t

hAve

Lower Buckeye Rd

123r

dAve

Broadway Rd

Southern Ave

Indian Springs Rd

Southern Ave

Citru

s Rd

Broadway Rd

Airp

ort R

d

Beloat Rd

93rd

Ave

27th

Ave

43rd

Ave

Pyra

mid

Peak

Pkw

y

33rd

Ave

16th

St

Desert Hills Dr

17th

Ave Joy Ranch Rd

Cloud RdCloudRd

64th

St

Happy Valley Rd Alm

aSc

hool

Rd

Jomax Rd

116t

h St

118t

h St

64th

St

Deer Valley Rd

McDowell Rd

Dean

Rd

Lower Buckeye Rd

Elliot Rd

RainbowValley Rd

Tuth

ill Rd

Narramore Rd

Ray Rd

155t

hAve

171s

tAve

Williams Field Rd

163r

dAve

203r

d Ave

Queen Creek Rd

Ocotillo Rd

Sand

ia Rd

Buenos Aires Rd

Riggs Rd

Hunt Hwy

Tuth

ill Rd

Ocotillo Rd

Skyline Dr

Thom

pson

Rd

Phillips Rd

Indian Route 60

187t

hAve

211t

h Ave

Dove Valley Rd

219t

hAve

Sariv

alAv

e16

3rdA

ve

Mou

nbat

ten

Rd

Dixileta DrBradley Rd

203r

dAve

Croz

ier S

t

Patton Rd

195t

hAve

Jomax Rd

Happy Valley Rd

Deer Valley Rd

136t

h St

Lone Mountain Rd

144t

h St

160t

h St

168t

h St

174t

h St

152n

d St

128t

h St

Bulla

rdAv

e

Wickenburg Hwy

Grand Ave

Grand Ave

Buckeye Rd

Main St

Black Canyon Hwy

Agua

Fria

Frw

y

Blac

k Can

yon

Frwy

Pies

tewa

Frw

y

HohokamExwy

Red Mountain Frwy

48th

St

Pearl Harbor Memorial Hwy

Mar

icopa

Frw

y

Superstition Frwy

S Ra

inbow

Rd

Jack

rabb

it Trl

Bulla

rdAv

e

Patterson Rd

EaglesNest CC

Palm ValleyGolf Club

WildlifeWorld Zoo

WigwamCC

Club WestGolf Club

FoothillsGolf Club

Harrahs/Gila R iverCasinos

Arizona Biltmo reCountry Club

San Ma rcosCC

Mccormick RanchGolf Club

Happy TrailsGolf Resort

ArrowheadRanch CC

LegendGolf Resort

PointeGolf Club Stonecreek

GC

The 500Club

Tatum RanchGolf Club

Gainey RanchGolf Club

TournamentPlayers Club

GrayhawkGolf Club

Fountain HillsGolf Club

Troon NorthGolf Club

BouldersClub

Tonto VerdeGolf Club

Gold Can yonGolf Club

Deer ValleyGC

StardustGC

Briar woodCC

Echo MesaGC

Hillc restGC

GrandviewGC

The VistasGC

WestbrookVillage GC

Willowbrook andWillowcreek GC Union Hills

CC

Co yoteLa kes GC

PebblebrookGC

RiverviewGC

PalmbrookCC

PeoriaStadium

La ke East/West GC

Phoenix CommunityCollege

Grand Can yonCollege



Mesa CommunityCollege

Arizona StateUniversity

ScottsdaleCommunityCollege

Glendale CommunityCollege

SouthwesternCollege

Phoenix-Deer ValleyMunicipal Airport

ScottsdaleAirport

FalconField

Phoenix Sky HarborInt'l Airport

Phx -MesaGateway

ChandlerMunicipal

Airport

MARICOPAPINAL

Scottsdale

CaveCreek

DesertHills

Anthem

Ca refree

Peoria

PHOENIX

Surprise

Glendale

Sun CityWest

SunCity Fountain

Hills

ElMirage

Youngtown

ParadiseValleyLu ke

AFB

Litch fieldPark

MesaGoodyear

Goodyear

Est rellaMountain

Ranch

Avondale

Buc keye

Tolleson

Tempe

GilbertChandler

Komatke

SantaCruz

Cashion

QueenCreek

ApacheJunction

60

60

85

74

74

74

87

88

153 143

101

303

303

101

51

87

101

101

87

236

347

587

60

60

17

17

10

10

17

10

202

202

2

6

4

5

13

7



9

8

13

15

10 14

12

11

PROPERTY PHOTOS | COLLIERS INTERNATIONAL | 11

Property Photos



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LOCATION MAPS | COLLIERS INTERNATIONAL | 14

Parcel Map



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