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Industrial Update: Tucson 3Q Absorption Moves 2014 in the Black

  
  
  
Tucson industrial market

With an improving national economic and employment picture slowly lifting all boats, the Arizona and Tucson employment rates followed suit; statewide employment was up 2.1% over a year ago. Residential inventory continued to stabilize and median sale prices gained 6.2% over prior year. Shared Services Center’s expansion announcement netting 200 new jobs made a positive statement about Tucson as a location to service western states.

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Tucson Office Market future looks bright (Debbie Downer has left the building)

  
  
  
Tucson office bright future

With an improving national economic and employment picture lifting all boats, the unemployment rate for Arizona and the Tucson metro area followed suit. Home sales inventory continued to stabilize and median sale prices gained 6.2% over prior year. Shared Services Center’s expansion announcement netting 200 new jobs made a further positive statement about Tucson as a location to service western states.

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The Economy Revs Up: C&W Weekly Economic Update

  
  
  
Market acceleration

The U.S. economy added 248,000 jobs to payrolls in September, marking the seventh time in the past eight months that employment has increased by more than 200,000.

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PICOR Pancakes Benefit Disadvantaged Youth Programs

  
  
  
PCF Pancake Breakfast

On October 12, 2014 Cushman & Wakefield | PICOR will mix, pour, flip and serve as many pancakes as you can eat. The proceeds of this annual fund raising event go directly back into our community. Our goal is to distribute funds collected from generous clients, colleagues, vendors and community friends to those Tucson-area charities benefiting disadvantaged youth where a modest grant will make a significant difference. Often, these are programs and organizations which may receive less public support than their counterparts.

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Tucson’s Investment Grade: Guest Post

  
  
  
Tucson Investment

Let’s take a look at what Tucson features for national investors. Tucson has the large investment properties to offer. The largest transactions in the past decade have generally comprised of apartments, resorts, regional malls, power centers, and student housing projects.

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The Consumer Never Left: CushWake Weekly Economic Update

  
  
  
Retail & Industrial Space

Overall, we remain confident that consumers will continue to increase spending at a healthy clip, which will boost the need for both retail and industrial space int he coming year.

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Commercial Warehouse Demand Ramps Up in Ambos Nogales Trade Corridor

  
  
  
Ambos Nogales warehouses trucks

Nogales, Ariz. is witnessing increased demand for international trade warehouse space and property with the upcoming $244 million expansion of the Mariposa Port of Entry. The Nogales Santa Cruz Port Authority works with key stakeholders in the Nogales community, including commercial land developers and Realtors®, to enhance economic development in the Nogales-Santa Cruz County region.

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Tucson: A Hotbed for Apartment Investors | Q2 Market Snapshot

  
  
  
Tucson Investment Property

The second quarter of 2014 saw historic progress in absorption and vacancy figures. 235 units were absorbed in the second quarter of the year with the largest gain in South Central Tucson. Downtown Tucson had all the buzz, and many prospective residents were looking for properties within this submarket. The overall vacancy rate dropped 0.28% to a very encouraging 9.05% at the year’s midway point. The net rents for the Tucson market continued to stay flat with no gain over the last six months. Tucson sales were averaging $639 per unit and $0.86 per sf (without utilities) in Metropolitan Tucson. The highest average rent was found in the Oro Valley/Catalina submarket at an average of $838 per unit. The lowest average rent of $512 per unit was found in the South Tucson/Airport area.

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Wind in the Retail Sails/Sales: Tucson Retail Market Update

  
  
  
Tucson retail wind in the sails

At 2014's midway point, the Tucson retail market continued its positive performance. Read more, as we detail the highlights for the quarter.

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Consumer Spending Beginning to Accelerate | CushWake Research

  
  
  
Consumer Confidence Increase

Stronger employment and income growth are boosting the rate of growth of consumer spending. That’s great news for the economy. Consumer spending accounts for 68% of total gross domestic product. Stronger consumer spending growth means stronger economic growth. This is an important element in our forecast for much stronger economic growth over the next 12 to 18 months. It also suggests that the commercial real estate sector will continue to improve.

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