PICOR Connect | Trends in Commercial Real Estate

Tucson Industrial Market Breaks Through an Occupancy Milestone

Posted on Thu, Oct 29, 2015

While not enjoying job recovery on pace with the national average, metro Tucson added 3,300 jobs year-over-year through August. Educational/Health Services and Professional/ Business Services accounted for 78.8% of the job growth, with unemployment improving significantly to 5.3% by September. 

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Topics: Tucson, Industrial, Economy, Commercial real estate, Investment property, Absorption, Market trends, Vacancy, Lease rates, Warehouse, Leasing

The Comcast Deal - A "Broken Promise:" TREND Report

Posted on Thu, Oct 15, 2015

Comcast Cable recently signed a lease for the former American Home Furnishings building near the Tucson Mall for its new IT, call center and social media operations. The company announced its plans to add 1,125 jobs in May. With an annual payroll of $35 million, the facility will be staffed by IT and customer-support workers. The center will house Spanish-speaking employees specializing in social media so customers can connect with Comcast via Twitter, Facebook or other outlets.  One of the major decision factors for selection of the Tucson Galleria site was based upon the convenient commuting options to the building. 

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Topics: Tucson, Commercial real estate, Economic development, Leasing, Office

Metro Tucson Employment Report - August 2015

Posted on Mon, Oct 12, 2015

In our first installment of the Metro Tucson Employment Report, note that according to August 2015 figures, Metro Tucson unemployment stood at 6.2% with 0.9% job growth over a 12-month period. Relative to the ten U. S. cities with most comparable MSA ranking, Tucson's job growth ranked ninth.

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Topics: Tucson, Economy, Commercial real estate