header image picor

PICOR Connect | Trends in Commercial Real Estate

Current Articles | RSS Feed RSS Feed

Tucson Office Market Snapshot: Silver Linings

Tucson office silver lining

With Tucson and state-wide post-recession job recovery lagging the nation, the local office market continued to rely on silver linings. Residential sales volume and median prices ended the year higher (14.0% and 7.1%, respectively), as positive recovery continued in the housing market.

"Building Value through Service"

2013 Tucson Commercial Real Estate Market in Review

Tucson market statistics

Don't want to digest reams of stats on the Tucson commercial real estate market's state of affairs? We've got short snapshots for you here. That being said, if you enjoy diving into that statistical stuff, say the word, and we'll send some your way...

"Building Value through Service"

Tucson Office Market: Downtown and Medical Uses Light the Way

Office facade

Arizona job growth is outpacing the national rate, as the state recovers. Improvement in job gains is dominant in the Phoenix metropolitan area, with only 1,300 net new jobs in the Tucson region since July 2012. The housing recovery statewide has positively impacted construction jobs in both Phoenix and Tucson, but permits remain low, relative to historic norms.

"Building Value through Service"

Progress for Phoenix & Tucson Office Markets: Guest Post by Reis

Phoenix skyline

Continuing our series of quarterly guest posts from the sharp analysts at Reis, Inc., we share this update on Tucson office vacancy as well as the Phoenix office market. Read on for some good news, with indicators moving in the right direction.

"Building Value through Service"

Tucson office market Q2: Is the needle stuck?

Tucson office market: Is the needle stuck

Arizona job growth has outpaced the nation since hitting bottom in fall 2010, but is still digging out of the significant hole left by job losses during the downturn. While Phoenix has experienced much of this growth, Tucson has not enjoyed the same progress. Local unemployment rates continue to improve ending May at 6.3%, a full percentage point improvement since January 2013. Retail sales in the metro area were up 2.1% year-over-year, and May home sales posted positive numbers with median prices up 12% and closings up 11%, both over May 2012.

"Building Value through Service"

Reis Q1 2013 Tucson & Phoenix Commercial Real Estate Data Analysis

Commercial real estate Tucson

On May 1, Reis published data and reports for both the month of March and for the first quarter of 2013.* The following is an update on the Tucson office market and the Phoenix office market and trends to watch. 

"Building Value through Service"

Tucson office market follows on a strong 2012 finish in Q1

Tucson Office

As with the national scene, quarter after quarter, we have cited the need for jobs to fuel a Tucson office market rebound. The State of Arizona reported significant job gains for the local market in February, with Tucson's unemployment improving to 6.7% from 7.3% in January. In the past year, 3,500 more jobs were added, largely in the education, leisure/hospitality and construction sectors.

"Building Value through Service"

Reis Provides Tucson & Phoenix Commercial Real Estate Data Analysis


In his quarterly briefing this past month, Dr. Victor Calanog, Reis’s Vice President of Research and Economics, highlighted the drop in Tucson’s Q4 2012 revenue per square foot for office space, a 0.8% decrease from Q4 2011.  This compares to a national increase of 2.3% over the same period.  During this time, Phoenix experienced a 1.1% increase.

"Building Value through Service"

Property Tax: Managing real estate ownership expenses in Arizona

Jodi Bain Sage Tax

Property taxes are one of the main expenses of real estate ownership in Arizona. In today’s business climate, taxes are under the microscope more than ever as property owners and managers seek ways to reduce expenses. We are fortunate that Arizona has a tax valuation appeal system. The system allows property owners or their agents to file an appeal petition for review with the purpose of lowering property tax. 

"Building Value through Service"

State of the Tucson Commercial Real Estate Market: Facts & Forecasts

Tucson Commercial Real Estate Forecast 2013

We've been in the prognostication business of late, and have gathered a great deal of data on the Tucson commercial real estate markets in one slide deck.

"Building Value through Service"

All Posts

Your email: