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[…]
PICOR Connect | Trends in Commercial Real Estate
Last week, Cushman & Wakefield | PICOR principal and office properties specialist Rick Kleiner joined the Back to Business Radio Show and Podcast on KVOI, the Voice, in Tucson. Hosts Rob Davidson and Alan Miklofsky had an exchange with Rick about such topics as the impact of COVID-19 on various sectors of the Tucson commercial real estate market, including office and medical, industrial, retail[…]
Yesterday, the U.S. government announced a phased plan for reopening the economy. Over the next several weeks and months, as areas stabilize from the COVID-19 pandemic and stay-at-home restrictions are lifted, organizations will begin to bring workers back into the physical workplace. As many media outlets reported, Cushman & Wakefield recently launched its Recovery Readiness Task Force (RRTF)[…]
It's been a couple of weeks since we updated you on "business as unusual" at Cushman & Wakefield | PICOR. With daily changes in guidance from every level of government and deeper understanding of our responsibilities to support health at the human, property, and community levels, we have continued to flex, too.
When the going gets tough, the tough get flexible! Our resilient team of Tucson commercial brokers, property managers, and support staff are weathering these strange days with good humor and a service-first mentality.
With thanks for broad individual and community support, the PICOR Charitable Foundation (“PCF”) raised and donated nearly $79,000 in its 2019 cycle, 10% more than the previous high mark. With all event costs underwritten by in-kind community partners and PICOR corporate funds, 100% of the funds raised through the 25th Annual Pancake Feed were granted to Tucson-area youth charities. PCF is[…]
On Sunday, November 17, 2019, we lost our brother, partner, friend, and teammate Russ Hall. Mercifully, his heart stopped quickly at the end of a day well lived in a place he loved. Not only was he a giant in the business and a perennial top producer, Russ shared everything he had, and his heart worked overtime every day. Everything has its limits, and Russ gave of himself until it just gave out.[…]
Like Forrest Gump and Jenny, or peas and carrots, commercial real estate and the economy enjoy a special relationship. Thus at Cushman & Wakefield | PICOR, we introduce our quarterly commercial real estate update with an economic backdrop to inform our perspective.
The Tucson industrial market remained strong at midyear, as evidenced by our primary metric: Vacancy rate. Once again, vacancy has ticked-down, this time to 5.1%. Echoing the comments last quarter, Tucson is experiencing a “plateau effect” in the industrial sector in that the dynamic run-up in absorption slowed as the market leveled off at a highly-occupied equilibrium.
The Tucson Metro Chamber wrote the legislative bill SB 1248: property taxes; valuation; property modifications, which was sponsored by Arizona State Senator Vince Leach. Governor Doug Ducey signed the bill on June 7, 2019.