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A Tale of Three Cities: Tucson, Albuquerque & El Paso - Guest Post

  
  
  
Tucson Albuquerque El Paso Map

The purpose of this report is to show the strengths and weaknesses of Tucson, Arizona and its sister cities, Albuquerque, New Mexico and El Paso, Texas. The three cities are sisters since they have many commonalities including climate, population size, and each city having a military base and a university. The stats and data shown herein are used to illustrate the bigger picture and may not reflect exact figures.

"Building Value through Service"

Retail therapy for Tucson's shopping center market

  
  
  
Tucson shopping retail

A continued rebound in consumer confidence, both nationally and locally, has fueled positive momentum in the Tucson retail market. Other market drivers have been material to the overall health of the retail market. These include an increase in housing demand, marked decrease in foreclosure filings, and national recognition for Tucson’s secondary education, with two local high schools ranked in the country’s top ten, as well as a National Blue Ribbon high school.

"Building Value through Service"

Tucson Retail Market Snapshot

  
  
  
CW Retail Tag Crop

Despite fewer shopping days in the critical holiday season, retail spending was up 3.5% nationally, aided by deep discounts by retailers. In the Tucson housing market, residential sales volume and median prices ended the year higher (14.0% and 7.1%, respectively), as positive recovery continued.

"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...

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Tucson Retail Market: Just How Good is it?

  
  
  
Retail shop bags

Arizona job growth outpaced the national rate as the state continued to recover. Statewide improvement in job gains will have a positive effect on all Arizona markets. According to Forbes magazine and Moody’s Analytics, Arizona ranks No. 1 nationally for projected job growth over the next five years, forecasted to increase 3.0% with an annual economic growth of 4.6%. The housing recovery statewide positively impacted construction jobs in both Phoenix and Tucson, with the volume of building permits strengthening. Conventional lending is recovering, and inventory remained below the balance point at 3.5 months, while finished lot supply is scarce.

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Retail real estate in the digital age: A conversation with Michael Lagazo

  
  
  
Retail real estate in digital age

If you're active in the commercial real estate social media sphere, you'll recognize Michael Lagazo as @Michael_MBA. If you're not active, take this opportunity to hear insights beyond 140 character tweets from a bright mind in the space, one with depth in the retail and mixed use environments from Southern California throughout the Southwest.

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US Retail Sales vs. Industrial Leasing Activity | CushWake Industrial Research

  
  
  
US Retail Sales vs Industrial Leasing Activity

The rise in United States retail sales bodes well for industrial leasing, as the latest "fact of the week" released by Cushman & Wakefield's research team indicates: 

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What's in store for the Tucson retail market? Q1 Update

  
  
  
Tucson Retail Market

As with the national scene, quarter after quarter, the need remains for jobs to fuel a Tucson retail 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"

Retail Trends: Anchored Centers vs Mid-block Strip Centers

  
  
  
Tucson shopping center vacancy rates

As the recovery slowly continues and the dust settles, we are seeing some clear and notable patterns. While overall Tucson vacancy rates have climbed from an all-time low of 3.1% in 4Q 2005 to a high of 8.8% in 1Q 2011, not all properties have fared equally. As landlord requirements on credit have loosened and occupancies see a shift from national to local tenants, a consistent “flight to quality” has occurred. Tenants are moving from mid-block, unanchored shopping centers to anchored--largely corner--properties, creating a dichotomy in occupancies and lease rates for these two distinct types of centers.

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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. 

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