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.
PICOR Connect | Trends in Commercial Real Estate
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.
"We face unprecedented and uncertain times because of COVID-19. However, the Chamber has been here for 123 years, and we intend to be here to lead businesses for another century. For this reason, based on available information, we emphatically believe it is in the best interests of the community, our restaurants and the employees that work in these establishments, to modify their operations to[…]
The retail sector has always been a dynamic arena of flux and of change. As our society and our culture has evolved and progressed, so has retail. The process of selling and the delivery of consumer goods has throughout history always progressed in order to keep pace with changes in transportation, technology, demographic shifts, and the resultant changes in consumer preferences. Today’s media is[…]
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[…]
Investment property value is a function of net operating income, and controlling expenses is impactful to any investor’s returns. With a managed portfolio of about three million square feet (sf), Cushman & Wakefield | PICOR tracks operating costs by type of property and over time, identifying trends and opportunities.
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.