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Home / PICOR Connect | Trends in Commercial Real Estate

PICOR Connect | Trends in Commercial Real Estate

State of the Tucson Office Market

Last updated on March 11th 2021

The Tucson office market had a strong showing to finish 2020, with 162,000 square feet (sf) of office space coming off the market during the fourth quarter. Quarterly absorption contracted to negative 19,000 sf from the previous quarter’s negative 181,000 sf. The vacancy rate improved by twenty basis points to 9.2% from 9.4%, while the overall average rental rate for the metro area dropped to[…]

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Tucson Multifamily Shines in Turbulent Times

Last updated on February 11th 2021

With new COVID-19 relief bills making their way through Congress, Arizona businesses are expected to receive additional economic relief in the following months. Arizona’s unemployment has risen from 5.9% in August to 7.8% in November largely due to the ramifications of the pandemic. Tucson’s unemployment correlated almost exactly to Arizona’s, increasing from 5.9% in August to 7.6% in November.[…]

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Retail Real Estate: Rattled Yet Resilient

Last updated on November 6th 2020

As in most markets in the United States, the Tucson retail real estate market strained in the third quarter to adapt to the realities of COVID-19 era business. Some large format retailers already pressured by online retailing and changing consumer preferences have simply been unable to continue operation.

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How is the Tucson Industrial Market Faring in the Age of COVID?

Last updated on October 22nd 2020

Supply in the Tucson industrial market remains stable, with only one new industrial project under construction. We do hear of numerous proposed industrial developments in the region with 5,000-10,000 square foot (sf) bays. We expect supply of small-bay industrial (under 5,000 sf) to remain consistent until rents grow by 35%-50%.

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Reuter joins CREW Network Global Board

Last updated on October 12th 2020

Barbi Reuter is among seven commercial real estate leaders elected to the CREW (Commercial Real Estate Women) Network global board of directors, serving in the capacity of President-Elect in 2021. The new leaders were introduced on Sept. 17 at the virtual 2020 CREW Network Convention.

CREW is the industry’s leading advocate for the advancement of women in commercial real estate, and Reuter will[…]

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Why We Will Return to the Office: TREND Report

Last updated on October 6th 2020

Much has been written about the return to the office after the “Great Pandemic of 2020.” In March 2020 when millions of workers were sent home, speculation began about the “new workplace.” Many said working from home was the wave of the future and would spell the death of the office. Initial surveys showed that as many as 75% of workers wanted to work from home. With the elimination of[…]

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Tucson Multifamily Update: TREND Report

Last updated on September 2nd 2020

Amid the COVID-19 pandemic, more than 11,000 businesses in Arizona and 1,300 in Tucson received economic relief from the federal government. While Arizona posted one of the sharpest unemployment drops in the country in May, it increased in June from 9% to 10%. On a positive note, The University of Arizona reopened with a mixture of online and in-person classes on August 24th, and LendingTree.com […]

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Back to Business with C&W | PICOR's Kleiner

Last updated on July 22nd 2020

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[…]

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The State of Tucson's Industrial Market

Last updated on May 27th 2020

This report is a snapshot of where the market is today and projects where it may be in the near future.

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Join Cushman & Wakefield's Recovery Readiness Webinar

Last updated on April 17th 2020

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)[…]

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