Throughout 2022, the Tucson office market was challenged by post-pandemic disruption to work patterns and reconsideration oflayout and use of space. The office vacancy rate rose slightly to 10.4% on the total available inventory of 28,887,249 square feet(sf). The Refinery at the Tech Park was completed, adding 120,000 sf to the market; otherwise, healthcare and ancillary medicalpractices continue[…]
The Tucson industrial market remained stable at year end, with market-wide vacancy approaching a historic low of 2.5%. Net absorption in Q4 was estimated at 590,980 square feet (sf), about half in newly constructed projects. Demand is being driven primarily by logistics, distribution, manufacturing, and the cannabis industry.
The top sale this past week at Cushman & Wakefield | PICOR was of a lot at Rio Rico South Industrial Park where one of our Industrial Specialists, Jose Dabdoub, represented the seller in this transaction. The top lease was of another industrial space, a renewal at Country Club Commerce Center where one of our Industrial Specialists, Robert C. Glaser, SIOR, CCIM, Principal, represented the[…]
2020 was the year that flipped the office upside-down and created the need for the work-from-home model around the world. As we continue to recover from the pandemic, 2023 will be the year workers return to the office as we settle into this new normal. Many organizations debate what the “Great Return” of employees returning to the office will look like. Cushman & Wakefield’s Global Lead for[…]
The top sale this past week at Cushman & Wakefield | PICOR was of a 9,900 square foot (SF) industrial building located near Interstate 10 where Paul Hooker, SIOR, Principal, Jesse Blum, Principal, and Andrew Keim, Industrial Specialists represented the seller in this transaction. The top lease was of a 16,100 SF industrial space at North Business Center where Paul Hooker, SIOR, Principal,[…]
The top sale this past week at Cushman & Wakefield | PICOR was of Vine Apartments, an 8-unit investment property located just south of the University of Arizona campus. C&W | PICOR Multifamily Specialists, Allan Mendelsberg, Principal, and Joey Martinez represented both parties in this transaction. The top lease was of an 8,000 square foot (SF) industrial property at 2055 E 17th St, located in[…]
Tucson, Arizona’s employee-owned and woman-led commercial real estate firm ranks #75 on Initiative for a Competitive Inner City’s annual Inner City 100 List.
The top sale this past week at Cushman & Wakefield | PICOR was of 32nd Street Apartments, an investment property located in central Tucson where our Multifamily Specialists, Allan Mendelsberg, Principal, and Joey Martinez represented both parties in this transaction. The top lease was of a 43,065 square foot (SF) industrial space, also located in central Tucson, where our Industrial Specialists[…]
The top sale this past week at C&W | PICOR was of a 72-unit apartment complex located on Fort Lowell Road where Allan Mendelsberg, Principal, and Joey Martinez represented both the buyer and seller in this transaction. The top lease was of a 15,000 square foot (SF) warehouse/office space near I-10 where Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist, represented the landlord in[…]