While we maintain numerous relationships with owners of investment property that are segmented by service, the case for employing a full-service commercial real estate team was well stated in this recent post on Cushman & Wakefield's blog. Reposted here with their permission:Read More
PICOR Connect | Trends in Commercial Real Estate
Grab your cuppa joe for our inaugural "CRE Coffee Break!" Join us for a quick chat to get to know Cushman & Wakefield | PICOR shareholder and property management division leader, Tina Olson. In addition to heading up the firm's market-leading management team, Tina has been active in industry leadership with BOMA Tucson, BOMA International, and numerous community efforts through the PICOR Charitable Foundation, Greater Tucson Leadership and Educational Enrichment Foundation.
To borrow from MasterCard’s 17-year ad campaign run, some things are priceless. Retaining a tenant is one of them. Cleaning and refitting a space to show, vacancy carrying cost, marketing and advertising fees, commissions and incentives, lease concessions to entice a new tenant? In a market like Tucson’s where competition for tenants remains fierce, keeping them truly is priceless, and it cannot begin as the expiration date is upon you.
Cushman & Wakefield | PICOR is proud to announce its 2013 award recipients and division leaders in the Tucson commercial real estate marketplace. Below the shiny graphic, you'll also find a list of community and charitable leadership roles our team members held. Tucson community involvement remains a cornerstone of our mission and culture.
The Pima County Metal Theft Task Force, co-chaired by Metropolitan Pima Alliance (MPA), CCIM and Building Owners and Managers Association (BOMA), successfully passed legislation dedicated to deterring metal theft. The Task Force led a three prong approach to educate Pima County residents and businesses on how to protect their property; aided law enforcement in having the tools they need to apprehend related criminals; and worked with the electorate to pass necessary legislation to prosecute and fine offenders.
If you're active in the commercial real estate social media sphere, you'll recognize Michael Lagazo as @Michael_MBA. If you're not active, take this opportunity to hear insights beyond 140 character tweets from a bright mind in the space, one with depth in the retail and mixed use environments from Southern California throughout the Southwest.
As Sterling Cooper Draper Pryce expand their firm, surely they will want their fingers on the pulse of the latest in building operating costs.
Compared to 2010, retail property occupancy levels for 2011 were up almost 16% in PICOR's portfolio over the previous year. The average occupancy rate for PICOR’s managed portfolio was 80%, compared to 69% in 2010. While market wide vacancy was 91.6% at year end, PICOR's role in turning around distressed and receivership properties means a lower occupancy in our portfolio; however, year over year gains in traction were significant.
2011 proved to be a better year for Tucson industrial property owners than the previous year. Occupancy levels were up: The average occupancy percentage for PICOR's managed industrial portfolio of 1.5 million square feet (sf) for 2011 was 78%, up from 71% in 2010. Property managers continue to operate their properties with a sharp eye to the bottom line, without sacrificing service levels. Pricing from service vendors has remained constant, and we have continued to leverage PICOR's buying power in the market to benefit owners and tenants of Tucson commercial real estate.
A delegation of BOMA Tucson and BOMA Phoenix members represented member issues as part of Arizona BOMA Advocacy Day in Phoenix last week. The group included Arizona BOMA President and Cushman & Wakefield | PICOR Property Manager, Mona Deane, who offers this summary of the Arizona legislative office visits.