PICOR Connect | Trends in Commercial Real Estate

The new #CREcosystem - RealMassive research report

Posted on Thu, Mar 31, 2016

"The commercial real estate industry (CRE) is experiencing one of the most profound economic, social and cultural transformations in history. Globalization, rapid urbanization, shifting demographics, and technological advances are ushering in unprecedented change, and today’s landscape looks dramatically different than it did even one decade ago. CRE professionals are tasked with finding new ways to adapt to this fluid and on-demand business landscape and in order to remain relevant and competitive in the digital era, the industry as a whole must operate dynamically and iterate rapidly."

Read More

Topics: Technology, Commercial real estate, Market trends, Social Media, Marketing

The Big Deals: Top Tucson Office Transactions of 2015

Posted on Tue, Mar 08, 2016

As winner of the Southern Arizona CCIM 25th anniversary Commercial Real Estate Forecast, Rick Kleiner, top-producing C&W | PICOR broker and principal, addressed the audience. What follows is the transcript of his remarks covering the top three office transactions of the year, as well as select slides.

Read More

Topics: Tucson, Commercial real estate, Investment property, Market trends, Leasing, Office

Tucson Apartment Market Finished 2015 Strong. What's ahead?

Posted on Tue, Feb 23, 2016

The Tucson Apartment market saw continued growth in all major sectors in the fourth quarter of 2015. The vacancy rate improved 34 basis points (bps) during the quarter to finish the year at 7.82%. This marks a 105 bps improvement from the start of 2015, attributable to the previous year’s limited movement and a slight increase in job gains in the region.  Nine of the fifteen submarkets experienced improvement, with the largest gains seen in the Southwest and Oro Valley regions.  Quarterly absorption saw a slight improvement with 333 units absorbed as new developments began to lease-up stage.

Read More

Topics: Tucson, Economy, Investment property, Market trends, Apartments, Multifamily

Will Modest Growth Remain the Story for the Tucson Retail Market?

Posted on Tue, Feb 16, 2016

Vacancy in the Tucson retail market ticked down, ending 2015 at 6.6%, a familiar and stable range for over two years. Annual net absorption in 2014 at 467,000 square feet (sf) and 2015 at 452,000 sf lagged the previous three years, which averaged 719,000 sf per year. In addition to traditional retailers, medical users from practice groups to the market’s first standalone emergency department have embraced the visibility, traffic counts, parking, and affordability that retail corridors offer today. On the national level, creating an experience for the consumer beyond a simple product purchase differentiates successful omni-channel/ brick and mortar retailers from their online counterparts. The grocery sector remains dynamic, with the possible re-entry of Albertsons at Broadway and Houghton and expansion from Natural Grocers. Walmart’s unexpected announcement of U. S. store closures will not have much impact on a national level and will not affect the Tucson market. Tucson continues to be an expansion market for Walmart and other discount retailers.

Read More

Topics: Tucson, Economy, Investment property, Market trends, Leasing, Retail

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 Office Market - 2015 Recap & 2016 Preview

Posted on Fri, Jan 22, 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, Economy, Investment property, Absorption, Market trends, Vacancy, Leasing, Office, Medical office

Tucson Retail Market: Positive Momentum Continues

Posted on Wed, Dec 09, 2015

Market Overview

Tucson retail, like other property sectors, enjoyed improvement as the marketwide vacancy dropped to 6.8% on positive absorption of 452,409 square feet (sf). The majority of the absorption was a result of the opening of the 360,000-sf Tucson Premium Outlets in Marana and the Cushman & Wakefield | PICOR Comcast office lease at the Tucson Galleria taking 211,000 sf out of the retail inventory.

Read More

Topics: Tucson, Commercial real estate, Investment property, Absorption, Market trends, Vacancy, Retail

tucson office market: Q3 retrospective

Posted on Wed, Dec 02, 2015

In an environment marked by stability, 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, Commercial real estate, Investment property, Absorption, Market trends, Vacancy, Office, Medical office

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

The Commercial Real Estate Environment Keeps Getting Better: C&W Research Report

Posted on Mon, Aug 10, 2015

Commercial real estate markets across  the  U.S. continued to improve in the second quarter. One important reason for this has been rising employment driving higher demand. That trend continued in July.

Read More

Topics: Economy, Commercial real estate, Market trends