PICOR Connect | Trends in Commercial Real Estate

The State of Tucson's Industrial Market

Posted on Wed, May 27, 2020

This report is a snapshot of where the market is today and projects where it may be in the near future.

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Join Cushman & Wakefield's Recovery Readiness Webinar

Posted on Fri, Apr 17, 2020

Yesterday, the U.S. government announced a phased plan for reopening the economy. Over the next several weeks and months, as areas stabilize from the COVID-19 pandemic and stay-at-home restrictions are lifted, organizations will begin to bring workers back into the physical workplace. As many media outlets reported, Cushman & Wakefield recently launched its Recovery Readiness Task Force (RRTF) and have plans to share best practices for reopening workplaces. 

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Topics: Economy, Commercial real estate, Leadership

Observations & Opportunities

Posted on Tue, Apr 07, 2020

It's been a couple of weeks since we updated you on "business as unusual" at Cushman & Wakefield | PICOR. With daily changes in guidance from every level of government and deeper understanding of our responsibilities to support health at the human, property, and community levels, we have continued to flex, too.

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Topics: Tucson, Economy, Commercial real estate, Market trends

Business as Unusual at C&W PICOR: COVID-19 Update

Posted on Fri, Mar 20, 2020

When the going gets tough, the tough get flexible! Our resilient team of Tucson commercial brokers, property managers, and support staff are weathering these strange days with good humor and a service-first mentality.

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Topics: Tucson, Commercial real estate, Market trends

Tucson Metro Chamber Urges Tucsonans to Support Local Restaurants

Posted on Tue, Mar 17, 2020

"We face unprecedented and uncertain times because of COVID-19. However, the Chamber has been here for 123 years, and we intend to be here to lead businesses for another century. For this reason, based on available information, we emphatically believe it is in the best interests of the community, our restaurants and the employees that work in these establishments, to modify their operations to takeout and delivery only. In a meeting led by Mayor Regina Romero, including Vice-Mayor Paul Cunningham, our members, restaurateurs, Visit Tucson and the Pima County Health Department, this recommendation was strongly advocated for by the Chamber. Restaurants are regulated on having strong health and safety standards and they have been amplified during this crisis. Mayor Romero has called a Local Emergency to go in effect tonight at 8:00 p.m., to maintain public health. Dining rooms in restaurants, bars and food courts will be closed. Mayor Romero stated, “My top priority, above all else, is to protect public health. This is a painful decision that I do not take lightly. Our restaurants and small businesses need clear, uniform direction, and this order provides them exactly that.”

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Topics: Tucson, Economy, Commercial real estate, Market trends, Retail

Coronavirus Update: 5 Reasons for Optimism, CW Research

Posted on Wed, Mar 11, 2020

Much of the analysis regarding the coronavirus impact — including ours at Cushman & Wakefield — has understandably been focused on the negative impact of the outbreak and downside scenarios. The situation is fluid, and there remain many unknowns. However, to inject a little bit of optimism and to help provide perspective, we offer five “glass half full” observations:
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Topics: Commercial real estate, Community, Investment property, Market trends

A New Stage in the Evolution of Retail: TREND Report

Posted on Tue, Mar 10, 2020

The retail sector has always been a dynamic arena of flux and of change. As our society and our culture has evolved and progressed, so has retail. The process of selling and the delivery of consumer goods has throughout history always progressed in order to keep pace with changes in transportation, technology, demographic shifts, and the resultant changes in consumer preferences. Today’s media is full of news of bankruptcies and store closures while simultaneously reporting year over year increased retail sales. While this may seem like a daunting and dangerous business environment this is business as usual for retailers and the industries that serve them. Retailing has always been a business and science that is constantly evolving. The current state of retailing is another evolution and stage of growth that will, inevitably, lead to the next stage of growth.

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Topics: Tucson, Economy, Technology, Market trends, Leasing, Retail

PICOR Charitable Foundation and Community Partners Donate a Record $78,951 to Tucson Youth Programs

Posted on Mon, Dec 30, 2019

With thanks for broad individual and community support, the PICOR Charitable Foundation (“PCF”) raised and donated nearly $79,000 in its 2019 cycle, 10% more than the previous high mark. With all event costs underwritten by in-kind community partners and PICOR corporate funds, 100% of the funds raised through the 25th Annual Pancake Feed were granted to Tucson-area youth charities. PCF is especially grateful for its capstone contributor, Burton Family Foundation, who doubled their commitment in 2019.

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Topics: Tucson, Economic development, Community

A Cardinal Tribute to Russ Hall, SIOR GSCS

Posted on Fri, Nov 22, 2019

On Sunday, November 17, 2019, we lost our brother, partner, friend, and teammate Russ Hall. Mercifully, his heart stopped quickly at the end of a day well lived in a place he loved.  Not only was he a giant in the business and a perennial top producer, Russ shared everything he had, and his heart worked overtime every day. Everything has its limits, and Russ gave of himself until it just gave out. We simply weren't ready... Ten days earlier, when we asked our team what they were grateful for, Russ replied with this:

"Am blessed to walk in to an office everyday where you consider all 50 people among your best friends.  Personally so thankful for my faith, survival of my little family, Health and all the wonderful blessings we hopefully never take for granted." 

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Topics: Tucson, Industrial, Commercial real estate, Leadership

Trends and Impact of Tucson Property Operating Costs: TREND Report

Posted on Fri, Nov 01, 2019

Investment property value is a function of net operating income, and controlling expenses is impactful to any investor’s returns.  With a managed portfolio of about three million square feet (sf), Cushman & Wakefield | PICOR tracks operating costs by type of property and over time, identifying trends and opportunities.

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Topics: Tucson, Commercial real estate, Market trends, Property management, Finance