Grab your cuppa joe for our inaugural "CRE Coffee Break!" Join us for a quick chat to get to know Cushman & Wakefield | PICOR shareholder and property management division leader, Tina Olson. In addition to heading up the firm's market-leading management team, Tina has been active in industry leadership with BOMA Tucson, BOMA International, and numerous community efforts through the PICOR Charitable Foundation, Greater Tucson Leadership and Educational Enrichment Foundation.
PICOR Connect | Trends in Commercial Real Estate
A short time ago, in modern America, there were some maxims that simply applied at all times. After a solid 60 years of suburban expansion in the Automobile Age, it seemed like “retail follows rooftops” and “drive until you qualify” were principles of urban expansion and of real estate development that were immutable and everlasting. Cheap energy, our reliance upon automobiles, and our vision of the American Dream created a long-lasting and frenetic drive to suburban and exurban communities.
Metro Tucson ended November with a total of 372,000 non-farm 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. HomeGoods, a division of TJX Companies, announced intent to open its western distribution center in Tucson, a proposed 800,000-square-foot (sf) facility with an estimated economic impact of nearly $900 million. HomeGoods received Pima County approval and awaits a tax incentive decision from the City in February. The real estate is being brokered in part by Cushman & Wakefield | PICOR.