PICOR Connect | Trends in Commercial Real Estate

Tucson Industrial Market Improves in 4th Consecutive Positive Quarter

Posted on Thu, Oct 31, 2013

Arizona job growth outpaced the national rate as the state continued to recover. Statewide improvement in job gains was primarily found in the Phoenix metropolitan area, with only 1,300 new jobs in the Tucson region since July 2012. 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, but permits remained low, relative to historic norms. 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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Topics: Tucson, Industrial, Commercial real estate, Economic development, Investment property, Market trends, Vacancy, Lease rates, Warehouse, Leasing

Tucson Office Market: Downtown and Medical Uses Light the Way

Posted on Tue, Oct 08, 2013

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.

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Topics: Tucson, Commercial real estate, Absorption, Market trends, Vacancy, Office, Medical office