PICOR Connect | Trends in Commercial Real Estate

Tucson Industrial Market - 2015 Recap & 2016 Preview

Posted on Thu, Feb 04, 2016

With 4,700 jobs gained over the first eleven months of 2015, Tucson's employment picture continued to under-perform relative to the state and nation, primarily due to fiscal drag. Tucson has recovered 74.0% of recessionary jobs lost, while Greater Phoenix has recovered 101.0%. Sector performance varied, with positive gains in professional and business services; leisure and hospitality, education and health care; financial activities; and information were largely offset by reductions in the other sectors, with the largest declines in state and local government.

Read More

Topics: Tucson, Industrial, Economy, Investment property, Absorption, Market trends, Vacancy, Warehouse, Leasing

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. 

Read More

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

Gears Turning in Tucson Industrial Market

Posted on Wed, May 06, 2015

As we entered the second quarter of 2015, key drivers for the Tucson industrial market included logistics and call centers, with the mining industry preparing for the next wave.
 
Tucson’s unemployment rate dropped 0.3 percentage point to 5.6% in February, considered close to full employment. That being said, the slow pace of job growth remained of primary concern and impeded stronger market progress.

Read More

Topics: Tucson, Industrial, Land, Commercial real estate, Investment property, Warehouse, Construction

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.

Read More

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

Tucson Dealmakers: CoStar announces 2014 Power Brokers

Posted on Thu, Apr 02, 2015

Each year since its 2005 Tucson commercial real estate market entry, Costar, the leading provider of industry market intelligence, has tracked and awarded the highest-producing companies and individuals in the Tucson marketplace.

Read More

Topics: Tucson, Industrial, Commercial real estate, Office, Retail

Finger on the pulse: Tucson's Industrial Market

Posted on Tue, Mar 03, 2015

Metro Tucson ended November with a total of 372,000 non-farm jobs, gaining 5,200 jobs year-over-year (YOY), an annualized job growth rate of 1.4%. Personal income rose 2.7% locally over a year earlier. HomeGoods, a division of TJX Companies, announced intent to open its western distribution center in Tucson, a proposed 800,000-square-foot (sf) facility with an estimated economic impact of nearly $900 million. HomeGoods received Pima County approval and awaits a tax incentive decision from the City in February. The real estate is being brokered in part by Cushman & Wakefield | PICOR.

Read More

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

Tipping our (cowboy) hats: In memory of Peter Douglas, SIOR

Posted on Tue, Feb 10, 2015

On December 25, 2014, Cushman & Wakefield | PICOR lost the most colorful block from our metaphorical quilt. Peter Douglas was a founding Principal whose cowboy nature guided a career of client and community impact. He was a founder of Greater Tucson Leadership and was inducted into the YMCA Hall of Fame in which he served on the Board for several years, and as Chairman. He was a dynamic force and presence in our firm and the loss is great.

Read More

Topics: Tucson, Industrial, Commercial real estate, Community

Industrial Update: Tucson 3Q Absorption Moves 2014 in the Black

Posted on Tue, Oct 28, 2014

With an improving national economic and employment picture slowly lifting all boats, the Arizona and Tucson employment rates followed suit; statewide employment was up 2.1% over a year ago. Residential inventory continued to stabilize and median sale prices gained 6.2% over prior year. Shared Services Center’s expansion announcement netting 200 new jobs made a positive statement about Tucson as a location to service western states.

Read More

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

The Consumer Never Left: CushWake Weekly Economic Update

Posted on Tue, Sep 16, 2014

Overall, we remain confident that consumers will continue to increase spending at a healthy clip, which will boost the need for both retail and industrial space int he coming year.

Read More

Topics: Industrial, Commercial real estate, Investment property, Market trends, Retail

Commercial Warehouse Demand Ramps Up in Ambos Nogales Trade Corridor

Posted on Wed, Sep 10, 2014

Nogales, Ariz. is witnessing increased demand for international trade warehouse space and property with the upcoming $244 million expansion of the Mariposa Port of Entry. The Nogales Santa Cruz Port Authority works with key stakeholders in the Nogales community, including commercial land developers and Realtors®, to enhance economic development in the Nogales-Santa Cruz County region.

Read More

Topics: Industrial, Sonora Mexico, Commercial real estate, Warehouse, Foreign trade zone, Transportation, Logistics, Development