PICOR Connect | Trends in Commercial Real Estate

Market Minute: Briefs on the Tucson Commercial Real Estate Markets

Posted on Thu, Jul 31, 2014

The unemployment rate for the Tucson metro area as of May 31st was 5.8%, 60 basis points (bps) lower than year end and 50 bps below the national rate. Decreased government spending impacted both Tucson’s market momentum and activity. Home prices and inventory flattened in the second quarter, while the inventory of Tucson residential listings increased.

Read More

Topics: Tucson, Industrial, Commercial real estate, Economic development, Investment property, Absorption, Market trends, Vacancy, Lease rates, Leasing, Office, Medical office, Apartments, Multifamily

Steady as she goes: Tucson's apartment market continues modest improvement

Posted on Wed, May 28, 2014

The Tucson apartment market has been remarkably steady for the past few years with occupancy remaining in the 90% to 91% range and rents slowly edging higher. Rental concessions have also continued to improve modestly, helping to boost property operating incomes.

Read More

Topics: Tucson, Commercial real estate, Absorption, Market trends, Vacancy, Apartments, Multifamily

Tucson Apartment Market Snapshot

Posted on Tue, Feb 25, 2014

Read the latest recap of the Tucson multifamily market from our team, as well as commentary from our friends at Reis, Inc. on the data set they track for the Tucson apartment market. A link to our full report can be found at the end of the article.

Read More

Topics: Tucson, Commercial real estate, Investment property, Market trends, Vacancy, Apartments, Multifamily

2013 Tucson Commercial Real Estate Market in Review

Posted on Fri, Jan 24, 2014

Don't want to digest reams of stats on the Tucson commercial real estate market's state of affairs? We've got short snapshots for you here. That being said, if you enjoy diving into that statistical stuff, say the word, and we'll send some your way...

Read More

Topics: Tucson, Industrial, Investment property, Vacancy, Lease rates, Leasing, Office, Retail, Medical office, Apartments

Tucson Multifamily: Student Housing & Class A Construction Lead the News

Posted on Wed, Nov 13, 2013

Operating fundamentals continued to slowly improve in Tucson with modest decreases in vacancy, positive absorption, a small increase in rental rates and some continued decline in rental concessions. Average vacancy dropped from 9.4% to 9.3% and the average rental rate essentially held steady, averaging $635. In a continuation of a four-year trend, higher occupancies and stronger increases in rental rates occurred in submarkets with higher-grade properties. The Northwest, Catalina Foothills, and Northeast submarkets, which have the strongest demographics in the region, had the lowest submarket vacancies in Tucson.

Read More

Topics: Tucson, Housing, Commercial real estate, Investment property, Absorption, Market trends, Vacancy, Development, Construction, Apartments, Multifamily

Tucson's Multifamily Renaissance | TREND Report

Posted on Thu, Aug 22, 2013

The Tucson apartment market is experiencing a renaissance with active and innovative development in the sector after a decade of underinvestment. During the housing boom of 2000 to 2008 the economics of multifamily development allowed few new developments in Tucson. Due to low apartment rental rates, high cost of land and building materials, very few multifamily developments penciled out in Tucson during the past decade. Lower land and building costs, a weak home market, higher demand for quality multifamily housing and some key rezoning actions have brought on a flurry of new construction.

Read More

Topics: Commercial real estate, Community, Market trends, Apartments, Multifamily

"State of the Tucson Market" Forecast Webinar Airs January 16th

Posted on Thu, Jan 03, 2013

For the first time, C&W | PICOR Commercial Real Estate has partnered with The CoStar Group to deliver a "State of the Tucson Market" webinar, which will include perspectives from leaders of each commercial division and include the Sonora, Mexico border region. 

Read More

Topics: Tucson, Industrial, Sonora Mexico, Commercial real estate, Economic development, Investment property, Absorption, Market trends, Vacancy, Lease rates, Warehouse, Leasing, Development, Office, Retail, Apartments, Multifamily

CMBS & Capital Markets Update - C&W Equity, Debt & Structured Finance

Posted on Tue, Sep 11, 2012

Apparently, even the Greeks were tired of being in the limelight, which helped the financing markets avoid another summer meltdown and allowed the market to build some momentum going into the fourth quarter. CMBS lenders are reporting strong origination volume and seem more comfortable than any time in the past few years that they will be able to book profits on the deals they’ve been warehousing. Spreads tightened steadily through July and August, though the market gave back about 5bps in spreads during the last two weeks.

Read More

Topics: Commercial real estate, Investment property, Market trends, Apartments, Finance

Mid-Year Multifamily Outlook

Posted on Fri, Jul 27, 2012

Operating fundamentals took their usual second quarter dip with students, seasonal visitors and seasonal employees departing for the summer. Market occupancy dropped 285 units which is on the light side of typical for Tucson. During the past 12 months, total occupied units continued climbing upward, increasing 995 units over Q2 2011 and gaining 2,245 units since Q2 2010. 

Read More

Topics: Tucson, Commercial real estate, Investment property, Market trends, Apartments, Multifamily, Finance

Arizona's slow housing recovery and the multifamily market impact

Posted on Thu, Aug 18, 2011

Once the poster child for national population growth and housing starts, Arizona, like other states historically reliant on construction, took a beating in the downturn, and the well-publicized forecast points to a long road to recovery.

Read More

Topics: Tucson, Commercial real estate, Investment property, Market trends, Distressed assets, Apartments, Multifamily