PICOR Connect | Trends in Commercial Real Estate

The State of Tucson's Apartment Market: TREND Report

Posted on Mon, Sep 11, 2017

The Tucson apartment market has been driven by a multitude of factors. The first factor that is driving the apartment market is that higher paying jobs are entering the Tucson economy. Tucson’s job growth remained relatively stagnant the past five years with median household income in the metro area 15.5% below that of the U. S. Several recent, high-profile jobs announcements included hundreds of highly-skilled and highly-compensated positions. The second wave of employers contracting with and supporting these primary employers will broaden the opportunities at all levels. As reported by the MAP Dashboard project, Tucson’s MSA enjoys a lower cost of living than many of its peer cities in the West and was 3.0% below the nation, driven largely by rental rates (2015 data).

Read More

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

Tucson Retail Rocks on...

Posted on Thu, Jul 27, 2017

Tucson's retail market continued its predictable growth with 20,397 square feet (sf) of positive net absorption this quarter. While the most recent quarter represented a slower quarterly pace of net absorption than we have seen recently, the ebbs and flows of net absorption in a market of our size are common and expected. 

Read More

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

Get to Know: Linda Montes-Cota, Property Manager Extraordinaire

Posted on Thu, Jul 20, 2017

It became a standing joke. She was the envy of her peers. When was someone going to dethrone Linda Montes-Cota as the perennial Tenant Relations Award winner at C&W | PICOR? Her name was on the wall year after year. Not to mention all those Manager of the Year awards...and the big kahuna: President's Award for Excellence in 2015. 

Read More

Topics: Property management, Investment property, Commercial real estate, Tucson

Who is...Max Fisher? 8 Questions & Answers

Posted on Fri, Apr 14, 2017

Last month, we welcomed Max Fisher to our Tucson commercial real estate brokerage team.  As a native Tucsonan, Max inherently understands what makes the community thrive. He's been active in the Tucson real estate market since 2012, and his strong community ties and industrial focus make him a standout in the commercial/industrial arena. We sat with Max to get to know him, and here's what he had to say:

Read More

Topics: Commercial real estate, Industrial, Leasing, Technology, Tucson

Positive Outlook for Tucson Apartment Market in 2017

Posted on Tue, Feb 21, 2017

 

Read More

Topics: Tucson, Economy, Leasing, Vacancy, Commercial real estate, Apartments, Multifamily

Tucson Industrial Market Sees a Surge

Posted on Wed, Feb 15, 2017

With accelerating improvement in vacancy from 9.2% to 7.8% year-over-year, Tucson’s industrial market reported the strongest annual gain since 2006 and the lowest vacancy mark since Q3 2008. With occupancy above 92% and no speculative space under construction, the market will experience upward movement in rents. Rent pressure has already occurred for spaces 5,000 square feet (SF) and under. Net absorption for 2016 nearly doubled that recorded in 2015 at nearly 1.5 million square feet (MSF). Absorption over the past twelve months exceeded all years since 2006’s high of 1.9 MSF.

Read More

Topics: Tucson, Industrial, Economy, Leasing, Vacancy, Logistics, Warehouse, Manufacturing, Commercial real estate, Economic development

Tucson Retail Market Expects a Strong First Quarter

Posted on Wed, Feb 08, 2017

Tucson’s retail market ended 2016 with a 6.4% vacancy, the same as year-end 2015, supported by a healthy market with positive growth in retail sales. With the exception of 2013, positive net absorption of 386,786 square feet (SF) for the year exceeded the total for each year since 2007. Gross absorption was also at a three-year high.

Read More

Topics: Retail, Tucson, Economy, Leasing, Vacancy, Lease rates, Commercial real estate

Aerobic Activity for the Tucson Office Market in 2016

Posted on Fri, Jan 27, 2017

You know that feeling when exercise elevates your heart rate? Well Tucson is finally feeling it. Over the course of 2016, the Tucson office market moved from having a pulse to having more fun. In 2016, the market posted its strongest post-recession occupancy gains, ending with available vacancy of 10.5%, a level not achieved in seven years.

Read More

Topics: Office, Tucson, Leasing, Lease rates, Investment property

Project Prosperity – Business & Government Working Together to Create Jobs: Guest Post

Posted on Wed, Jan 25, 2017

In a 2014 Tucson Metro Chamber survey of local business executives called the Business Expansion and Retention (BEAR) Report, the Chamber learned that the interface between the City of Tucson and the private sector needed some refinement so it could operate more smoothly and help more job creators open their doors. 

Read More

Topics: Tucson, Community, Economy, Economic development, Investment property

Barbi Reuter Named President of Tucson's Cushman & Wakefield | PICOR

Posted on Tue, Jan 03, 2017

TUCSON, ARIZ.- (Jan. 3, 2016)- On Jan. 1, 2017, Barbi Reuter took over as President of the Tucson-based commercial real estate firm, Cushman & Wakefield | PICOR, where she previously served as the company’s Chief Operating Officer (COO). Founder and managing shareholder Mike Hammond will remain with the company, serving as its CEO and chairman.

“Barbi’s promotion to President is the natural step forward for Cushman & Wakefield | PICOR,” said Mike Hammond. “Barbi’s focus on relationships and client solutions will further the model we established when we began the company in 1985, while also helping us to create new market opportunities, leverage Cushman & Wakefield’s resources for our clients’ benefit, and advance recruiting and employee development.”

Read More

Topics: Tucson, Community, Leadership