The City of Tucson deserves substantial credit for the way in which they now deal with Certificates of Occupancy (C of O). In the past, challenges obtaining a C of O were significant enough to devalue properties and bankrupt tenants. The current policy places the focus on the building, not on the tenant. Under the new policy, a business owner may now purchase a building and have a reasonable[…]
PICOR Connect | Trends in Commercial Real Estate
Why should a business owner use a broker to represent them in their search and negotiations for office space? While we are focused here on office requirements and handle Tucson commercial real estate, the same principles apply for businesses looking to lease industrial or business park space, medical office, and even retail or shop space in Tucson or beyond.
The Metropolitan Pima Alliance (MPA) will be hosting its 8th Annual Common Ground Awards Celebration on October 21st at the Westward Look Resort. In keeping with its mission to further the interests of the real estate and development industry through education, public policy advocacy and networking, the event celebrates positive, collaborative interaction between the public and private sectors.[…]
In a September 12, 2011 special report entitled "The Road Ahead for CRE and the US Banking Sector," Deutsche Bank researchers summarize the size and scope of commercial real estate's finance picture with insights for CMBS investors and others in the industry.
This week Prologis, global leader in warehouse development and ownership, forecasted a 12-18 month ramp up in absorption of warehouse space, largely driven by production and trade increases. We asked how Tucson warehouse space fares in the market place and whether the recovery locally will track the global and U.S. forecasts.
Consistent with what we have seen in Tucson's commercial real estate market, general lease activity in the industrial sector has slowed since the beginning of July. The chart below, compiled by Cushman & Wakefield's research team, shows the direct relationship between these two sectors of commercial real estate: industrial and retail.
Restoring the damage from metal theft is an expensive proposition for property owners and insurers alike. The cost is often a multiple of the price to replace stolen copper wire or metal, because other building and electrical system components are often damaged when the metal is hastily stripped by thieves. Unoccupied properties are prime targets, and with higher vacancy in the market, property[…]
Whether you are a sole proprietor, manage a branch location, or are a major local employer, many factors impact your decision to choose a particular site to locate your business. While many might believe lease rate is a major driver, a host of other considerations drive site selection due to their broader impact on business success for manufacturers and distributors alike.
For 32 years, the Palo Verde Kiwanis Club sponsored a fall event raising in excess of $300,000 for Tucson charities. In 1994, when the club ceased to operate, PICOR formed a foundation to enable this endeavor to continue for years to come. The 2011 event will be held October 9th in Tucson's Reid Park at Ramada #1 from 8:00 am to 1:00 pm with performances by the Tucson Girls Chorus Ladybugs and[…]
Once the poster child for national population growth and housing starts, Arizona, like other states historically reliant on construction, took a beating in the downturn, and the well-publicized forecast points to a long road to recovery.