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Home / PICOR Connect | Trends in Commercial Real Estate

PICOR Connect | Trends in Commercial Real Estate

Q1 MultiFamily Report Reveals Slower Leasing, Rent Adjustments, and Market Competitiveness

Last updated on May 31st 2023

Tucson’s average vacancy rate increased by 0.03% to 7.49% in Q1 2023, representing a 2.64% decrease year-over-year. The Tucson market’s leasing activity slowed as the new year turned, but towards the end of the first quarter picked back up velocity. The average gross apartment rent without utilities increased by $7 (.61%) from Q4 2022 to $1,164 per unit/$1.53 per square foot (sf). Of completed[…]

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Why a CRE Advisor is Essential for Your Location Search

Last updated on May 25th 2023

The quest for the ideal business location in Tucson or Southern Arizona is a pivotal journey, one that requires an adept navigator – a Commercial Real Estate (CRE) advisor or broker. Just as every successful voyage calls for a competent captain, every business relocation or expansion necessitates the expertise of a dedicated Tucson commercial real estate partner. Let's delve into the reasons why[…]

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Tucson's Q1 Retail Market: Demand Rises, Vacancy Drops

Last updated on May 17th 2023

The Tucson retail commercial real estate market in Q1 2023 showed positive signs. The vacancy rate dropped from 6.2% at the end of 2022 to 5.9% at the end of Q1. Ten of the 13 submarkets experienced positive absorption during the last quarter, indicating continued demand for retail space. 

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Tucson's Industrial Market: Another Historically Low Vacancy Rate and Rising Prices

Last updated on May 10th 2023

During the first quarter, the Tucson industrial market registered a record-breaking low vacancy rate of 1.8%, while overall absorption reached 597,391 square feet (sf). This trend is not new as Tucson's supply continues to fall behind the demand, exacerbated by a 50% increase in construction costs over the past year. Consequently, lease rates and terms have been steadily increasing. 

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Tucson's Office Market: Pandemic Impacts, Medical Investment Trends, and the Rise of Mental Health Companies

Last updated on May 3rd 2023

The Tucson office market continues to see a rippling effect from the pandemic as employers try to entice employees back to the office. Although vacancy rates have remained at 10.1%, the negative net absorption rate of -62,372 square feet (sf) is a cause for concern as the available inventory of 2,914,919 sf remains on the market. The post-pandemic hybrid work schedule has led to a trend in larger[…]

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Nearshoring to Mexico: A Reality Check

Last updated on April 26th 2023

The Trend Report, May 2023 Edition | Volume 16 - Issue 05 

If we think about it, the last five years have been somewhat of a ‘perfect storm’ for Mexico. The first conversations about nearshoring, came about when the US decided to place tariffs on Chinese imports in early 2018. This coincided with the ratification of the revised NAFTA Agreement (USMCA) later that year, immediately followed by the[…]

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Meet Jason Abraham Shaltiel – Q & A

Last updated on April 21st 2023

This week we welcomed Jason Abraham Shaltiel to our commercial real estate brokerage team!

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Central Tucson: Olive Tree Apartments and a Medical Office Building Acquired for Over $3M

Last updated on April 5th 2023

Cushman & Wakefield | PICOR had a number of sales transactions last week. Among them, two deals stand out in central Tucson that showcase the variety of investment opportunities available in the area.

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Broker Buzz - Get to Know Bryce Horner

Last updated on March 29th 2023

Get to know Bryce Horner, Cushman & Wakefield | PICOR's investment sales and leasing specialist. 

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Clicks & Bricks: The Current Evolutionary Stage of Modern American Retail

Last updated on March 22nd 2023

The Trend Report, April 2023 Edition 

In the age of digital technology, the waypeople shop has changed significantly. Online shopping has grown increasingly popular, and many people prefer to shop from the comfort of their own homes rather than in person.

 

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