PICOR Connect | Trends in Commercial Real Estate

The Mixed Story on the Tucson Apartment Market

Posted on Thu, Feb 26, 2015

Metro Tucson ended November with a total of 372,000 non-farm jobs, gaining 5,200 year-over-year (YOY), an annualized job growth rate of 1.4%. Growth in home prices began to flatten, with a 4.6% gain in median selling price in 2014. HomeGoods, a division of TJM Companies, announced interest in opening a western distribution center in Tucson, an operation employing up to 900 with an estimated economic impact of nearly $900 million. HomeGoods received Pima County approval and awaits a tax incentive decision from the City of Tucson in February.

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Topics: Tucson, Housing, Commercial real estate, Investment property, Absorption, Vacancy, Apartments, Multifamily

Miss our Tucson Retail recap? Catch up on market news here

Posted on Tue, Feb 24, 2015

Metro Tucson ended November with a total of 372,000 non-agriculture jobs, gaining 5,200 jobs year-over-year (YOY), an annualized job growth rate of 1.4%. Personal income rose 2.7% locally over a year earlier, while statewide retail sales were up 1.9% YOY. Tucson home prices ended 2014 with a respectable 4.6% gain in median selling price.

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Topics: Tucson, Economy, Commercial real estate, Investment property, Market trends, Vacancy, Lease rates, Retail

Tipping our (cowboy) hats: In memory of Peter Douglas, SIOR

Posted on Tue, Feb 10, 2015

On December 25, 2014, Cushman & Wakefield | PICOR lost the most colorful block from our metaphorical quilt. Peter Douglas was a founding Principal whose cowboy nature guided a career of client and community impact. He was a founder of Greater Tucson Leadership and was inducted into the YMCA Hall of Fame in which he served on the Board for several years, and as Chairman. He was a dynamic force and presence in our firm and the loss is great.

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Topics: Tucson, Industrial, Commercial real estate, Community