PICOR Connect | Trends in Commercial Real Estate

Creative Brokerage Brings HomeGoods Tucson Distribution Center | RE Daily News

Posted on Thu, Apr 30, 2015

There has been much written about the new HomeGoods Tucson distribution center lately. What hasn’t been told until now, is the creative brokerage it took by a group of real estate professionals to assemble the land for the HomeGoods Tucson deal to come together.  It really started almost two years earlier, when the Massachusetts-based TJX Companies, HomeGoods’ parent company, broadcasted its requirements for a 100-acre site appropriate for a new western regional distribution center to be built.

Rob Glaser, CCIM, SIOR, Principal at Cushman & Wakefield | PICOR credited as the mastermind behind this real estate assemblage told us when he first heard of the requirement it was just his intuition that told him Tucson would be an ideal place for the company.

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Topics: Tucson, Industrial, Economy, Land, Commercial real estate, Economic development, Warehouse, Development, Construction

Governor Ducey appoints Hammond to represent Pima County on State Transportation Board

Posted on Tue, Apr 14, 2015

PHOENIX - Governor Doug Ducey has appointed Michael S. Hammond to the State Transportation Board, representing the Pima County region in the planning and development of Arizona’s transportation network.

 

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Topics: Tucson, Economy, Economic development, Community, Transportation, Phoenix, Leadership

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.

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

Office Market Mojo: Tucson's is Ticking Up

Posted on Wed, Jul 16, 2014

If our firm’s revenue and activity are indicative of the market, Tucson office market momentum has clearly increased, with annualized lease and sale transactions up 44.7% over 2013. Our team was busy helping clients position themselves to best avail themselves of opportunities, with regard to pricing and availability whether for lease or investment. With continued tepidness in job growth, creativity and resourcefulness ruled the day.

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Topics: Tucson, Commercial real estate, Office, Leasing, Absorption, Market trends, Economic development, Vacancy, Lease rates, Medical office

A Tale of Three Cities: Tucson, Albuquerque & El Paso - Guest Post

Posted on Tue, Jul 08, 2014

The purpose of this report is to show the strengths and weaknesses of Tucson, Arizona and its sister cities, Albuquerque, New Mexico and El Paso, Texas. The three cities are sisters since they have many commonalities including climate, population size, and each city having a military base and a university. The stats and data shown herein are used to illustrate the bigger picture and may not reflect exact figures.

Tucson, Arizona

Tucson is about 60 miles north of the US-Mexico border and about 100 miles south of Phoenix, Arizona. The metropolitan population is about 1 million but the 2010 US Census Bureau reports a population of 520,000. Major industries in Tucson include Defense/Aerospace, Healthcare, and mining. Tucson does not have any major sporting teams beyond those associated with the University of Arizona. The current real estate trends include the build-up of downtown with new office buildings, street-car, student housing, restaurants, and retailers.

The major difference between Tucson and its sister cities is that it is in the shadow of a much larger city. The Phoenix metropolitan area is about 4 million people and has sports venues, a legitimate international airport, corporate industries, loop freeways, and a light rail line.

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Topics: Commercial real estate, Office, Retail, Industrial, Economic development

The Arizona-Sonora Region: Global Advantage and More

Posted on Tue, Jul 01, 2014

The Arizona México Commission held its semi-annual forum last week in Scottsdale with the theme "Are You Ready for International Business?" Because Cushman & Wakefield | PICOR has a decade-long commitment to cross-border commercial real estate, we thought it timely to share an update on the Sonora, Mexico commercial real estate environment and efforts promoting the Arizona-Sonora Region.

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Topics: Tucson, Commercial real estate, Sonora Mexico, Economic development, Foreign trade zone

Mission Strong: Supporting our Southern Arizona military assets

Posted on Thu, Apr 03, 2014

Beyond a shadow of a doubt, national defense is an integral and critical component of Tucson's economy. Recent research and a campaign to support and preserve our military presence has emerged as "Mission Strong." Here are some excerpts from the Mission Strong website:

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Topics: Tucson, Economic development, Community

Tucson's 5 Ts - Mayor Rothschild promotes his plan at State of the City

Posted on Sat, Mar 01, 2014

In his recent appeal to the Tucson Metro Chamber audience and in forums at Tucson CREW and CCIM, Mayor Jonathan Rothschild rallied the business community around the region’s stated Five Ts or five strengths: Technology, Trade, Transportation, Tourism and Teaching. 

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Topics: Tucson, Sonora Mexico, Economic development, Community

Tucson Retail Market: Just How Good is it?

Posted on Wed, Nov 06, 2013

Arizona job growth outpaced the national rate as the state continued to recover. Statewide improvement in job gains will have a positive effect on all Arizona markets. According to Forbes magazine and Moody’s Analytics, Arizona ranks No. 1 nationally for projected job growth over the next five years, forecasted to increase 3.0% with an annual economic growth of 4.6%. The housing recovery statewide positively impacted construction jobs in both Phoenix and Tucson, with the volume of building permits strengthening. Conventional lending is recovering, and inventory remained below the balance point at 3.5 months, while finished lot supply is scarce.

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Topics: Tucson, Commercial real estate, Retail, Investment property, Leasing, Market trends, Economic development, Vacancy, Lease rates

Tucson Industrial Market Improves in 4th Consecutive Positive Quarter

Posted on Thu, Oct 31, 2013

Arizona job growth outpaced the national rate as the state continued to recover. Statewide improvement in job gains was primarily found in the Phoenix metropolitan area, with only 1,300 new jobs in the Tucson region since July 2012. According to Forbes magazine and Moody’s Analytics, Arizona ranks No. 1 nationally for projected job growth over the next five years, forecasted to increase 3.0% with an annual economic growth of 4.6%. The housing recovery statewide positively impacted construction jobs in both Phoenix and Tucson, but permits remained low, relative to historic norms. Conventional lending is recovering and inventory remained below the balance point at 3.5 months while finished lot supply is scarce.

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