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PICOR Connect | Trends in Commercial Real Estate

Gratitude in Action: C&W | PICOR's 29th Annual Pancake Breakfast Fundraiser Raises Over $168,700

Last updated on November 15th 2023

As we take some time to reflect and express gratitude this season, Cushman & Wakefield | PICOR would like to extend our appreciation for the collective spirit of generosity that defines this time of year. We are grateful for the dedication of our partners, clients, and employees, as well as the unwavering support of our community. We are excited to share that our 29th Pancake Breakfast Fundraiser[…]

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Tucson's Multifamily Market: Growing Demand, Rental Rates, & Construction Projects in Q3

Last updated on November 8th 2023

The Tucson multifamily market continued to display dynamic trends throughout Q3. The vacancy rate notably grew to 7.76%, marking a significant 1.61% YOY increase. Moreover, the Tucson MSA’s inventory increased measurably by 233 units during this period, indicating a growing demand for housing in the region. On the rental front, monthly gross apartment rents in Tucson climbed to $1,167 per unit or[…]

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Tucson Retail Market: Stability, Expansions, & Resilience in Consumer Spending

Last updated on November 1st 2023

The Tucson retail market in Q3 continued to exhibit signs of stability, with the vacancy rate remaining unchanged at 5.6%. Amid consistent occupancy reflecting steady market conditions, nine out of 13 submarkets experienced positive absorption during the quarter, indicating healthy demand for retail space.

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Tucson's Industrial Market: Rising Lease Rates & Strong Demand

Last updated on October 25th 2023

In the third quarter, the Tucson industrial market maintained a consistent demand-supply dynamic, marked by limited inventory. After experiencing vacancy below 4.0% in the second quarter of 2023, the vacancy rate rose to 5.6% due to delivery of new vacant product to the market. Despite this, there was a positive net absorption of 292,707 square feet (sf).

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Medical Users Leading the Way: Tucson's Office Market Highlights for Q3

Last updated on October 18th 2023

The Tucson office market is gradually rebounding post-pandemic, with the vacancy rate decreasing from 9.4% to 8.9% compared to the previous quarter. However, the presence of 2.8 million square feet (sf) of available inventory remains a concern, primarily due to office users reevaluating their needs considering hybrid and remote work models. Medical users continue to drive the Tucson office[…]

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High Vacancy Trend Viewed as an Opportunity

Last updated on October 11th 2023
By Jason Abraham Shaltiel and Ryan McGregor
The Trend Report, October 2023 Edition 
The year-to-date office market in the Tucson Metro area has witnessed a healthy blend of leasing and sales activity. While some property owners may have concerns, the overall indicators point to positive developments for the entire Tucson office market. “Until we get to a place where we are not required[…]
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High Demand Continues for Medical Office Investments

Last updated on October 4th 2023
By Richard M Kleiner, MBA 
The Trend Report, October 2023 Edition 

With investment activity down across all commercial property types in 2023, medical office buildings have felt the impact but remain in high demand. This is due to solid fundamentals in rental growth, stable rent rolls, and lower vacancy compared to other commercial property types in the current economic climate.

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Addressing Housing and Crime Challenges in Tucson: Insights from Property Management

Last updated on September 29th 2023
Tucson, Arizona is currently dealing with a multifaceted challenge related to homelessness and crime. The city has seen a significant increase in homelessness in recent years, which has significantly impacted property management and owners in the area. Additionally, rising crime rates, particularly property-related crimes, have added to property managers' challenges. This article will explore[…]
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Broker Buzz: Natalie Furrier – Insights, Stories, & the Retail Market

Last updated on September 20th 2023
Natalie Furrier, one of Cushman & Wakefield | PICOR’s retail specialists, has just marked her one-year anniversary as a PICOR broker! She specializes in the sale and leasing of properties for retail commerce including food and entertainment. In the following interview, we will get Natalie's take on the Tucson market and her firsthand insights and experiences.
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Pancake Breakfast Fundraiser Benefitting Tucson Youth

Last updated on September 13th 2023
Mark your calendars! On October 22 from 8:00 AM - 12:00 PM at Reid Park at Ramada One Cushman & Wakefield | PICOR employees, family members, and friends will mix, pour, flip, and serve as many pancakes as you can eat! Your donations support at-risk youth programs in Southern Arizona.
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