PICOR Connect | Trends in Commercial Real Estate

Tucson Industrial Market Review & Outlook

Posted on Tue, Feb 12, 2019

Positive momentum continued its five-year trend in 2018 in the Tucson industrial market, with vacancy improving to 5.7%, cut in half from its highest point in recent years. At year end, vacancy was lowest in the city center at 1.5% and highest in the Southwest/Airport area at 12.8%. Net absorption was 50.4% stronger than in 2017, and thanks to Amazon’s two projects, space under construction has quadrupled year over year. Significantly, Amazon is entering the market with an 850,000 square foot (sf) distribution center under construction in the southeast sector and a new 50,000 sf service center in the southwest.

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Topics: Economy, Manufacturing, Logistics, Vacancy, Market trends, Lease rates, Economic development, Commercial real estate, Industrial, Tucson

Are These the Best of Times?

Posted on Thu, Feb 07, 2019

Trends in the commercial real estate sector often parallel a community’s economic health, and the Tucson business climate is no exception. Industry metrics like vacancy rates, rent trends, and sale prices can track with business sentiment and performance, providing a helpful barometer of the times.

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Topics: Economy, Construction, Development, Leasing, Commercial real estate, Economic development, Market trends