PICOR Connect | Trends in Commercial Real Estate

Gains for Tucson Retail Market as Economy Reshapes

Posted on Fri, Oct 28, 2016

Anchored centers in Tucson continued their long-standing success, and well-positioned projects like Park Place Mall trade area’s Wilmot Plaza reported some of the strongest rents and lease-ups in recent years. Tucson's southwest submarket posted continued strong demand from retailers, entertainment venues, and restaurants.

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Topics: Tucson, Economy, Commercial real estate, Investment property, Leasing, Retail

Tucson Industrial Market Posts Stellar Absorption Q3

Posted on Tue, Oct 25, 2016

Tucson’s industrial vacancy continued its positive trajectory, improving by 50 basis points over Q2 2016 to end at 8.1%, the lowest level recorded since Q4 2008. With the completion of HomeGoods’ 858,288-square-foot (SF) distribution center, total net absorption to date in 2016 exceeded 1.2 million square feet (MSF), marking the first year over one MSF since 2006.

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Topics: Tucson, Industrial, Economy, Commercial real estate, Investment property, Leasing

Tucson Office Market Posts Highest Occupancy in 7 years

Posted on Tue, Oct 18, 2016

As a result of steady, organic recovery and job growth, surplus and sublease office space in the Tucson market has largely shaken out. Overall market vacancy hovered around 12.0% for six solid years. At its current 11.5%, Tucson office vacancy is at the lowest point since Q4 2009. The data reveal a strong differential between older and newer buildings, with those built prior to the new millennium sitting at 13.9% vacant, and those built since 2000 enjoying a much healthier 6.0% vacancy. Absorption for the year is on pace to exceed the prior two years, standing at 289,278 square feet (SF) through the end of Q3.

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Topics: Tucson, Economy, Commercial real estate, Investment property, Leasing, Office, Medical office

Tucson's Best Place to Work 2016!

Posted on Tue, Oct 04, 2016

Earlier this month, our team was honored to win the Copper Cactus award for Best Place to Work (companies 31-75 employees). We couldn't be more thrilled, as this recognition belongs to every member of our company. Our team strives to exceed our clients' expectations, with a tremendous work ethic in a culture of fun. This is our seventh Copper Cactus Award since the program's inception, with past awards in Community Service, Business Growth, as well as an Innovation award finalist.

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Topics: Tucson, Community