With many blessings to count, this year and always, we continue a tradition started last Thanksgiving, asking our Cushman & Wakefield | PICOR team members to join us in a moment of gratitude and reflection. In this short slide show, we share with you personal perspectives and photographs from heartfelt to humorous.
PICOR Connect | Trends in Commercial Real Estate
We’ll start with a short quiz to ask whether you’re seeing some correlation here:
For the Tucson apartment market, the third quarter of 2014 continued to report historic progress in absorption and vacancy figures. Tucson's multifamily inventory absorbed 618 units in the third quarter of the year. The vacancy rate dropped 0.8% to a very encouraging 8.2%. These two indicators continue to improve in the marketplace mainly due to the declining average rent in Tucson.
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.