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Home / PICOR Connect | Trends in Commercial Real Estate

PICOR Connect | Trends in Commercial Real Estate

Q2 2022 Office Marketbeat

Last updated on August 24th 2022

During Q2, overall activity remained static despite more workers returning to the office. National companies were more likely to insist on a return to the office while local employers took more time to work alternatives.

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Q2 2022 Industrial Marketbeat

Last updated on August 15th 2022

Overall market sales volume remains strong with $68.1 million trading this quarter.

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PICOR Charitable Foundation Raises $124,910 for Tucson Youth

Last updated on January 25th 2022

In its 27th year, the PICOR Charitable Foundation was again barred from flipping pancakes for the Tucson community by pandemic conditions, yet through the generosity of donors committed to supporting non-profit youth programs in the region, the Foundation raised its first-ever six figures in donations, bringing in $124,910.

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Demand for Tucson Office Space - Less, Same or More? TREND Report

Last updated on October 6th 2021

Not a day goes by that one of our landlord clients, an appraiser, or lender doesn’t ask us what the Tucson office market will look like once we work our way through the ongoing COVID-19 pandemic. We certainly wish we had a crystal ball that could see through this conundrum; however, it just isn’t that easy. The crystal ball, as clouded as it is, probably would not hold a vision of this pandemic[…]

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Tucson Office Market: In Flux or Flexing?

Last updated on August 24th 2021

In Q2, Tucson’s post-pandemic office market began to re-center itself, as vaccinations became more widespread, and employers planned their return to office strategies. Vacancy rose to 9.5%, with an expectation it will approach 10.0% by year-end before stabilizing. Activity was strongest in the healthcare-related fields, with hospice, home health care, counseling and therapy uses most prevalent.

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Tucson Industrial Market Sees Soaring Demand

Last updated on August 20th 2021

In Q2 2021, Tucson industrial and flex space of all types remained the darling during tumultuous pandemic times and for the foreseeable future. E-commerce and expanded consumer buying power drove logistics and fulfillment demand and a 5.5% vacancy rate in the market.

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Tucson Multifamily Market Sizzles Mid-Year

Last updated on August 17th 2021

For investors looking for investments $20 million and under, Tucson ranked number 4 on the list of small/middle sized markets. A larger driver of the demand for multifamily in Tucson is the attractive year-over-year (YOY) average rent growth of 9.1%. The shortage of affordable and traditional housing in Tucson also fuels apartment rental demand. With construction costs tripling on certain[…]

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An Active Tucson Retail Market at Mid-Year

Last updated on August 12th 2021

Tucson’s Q2 retail vacancy held steady at 6.2% amid a resurgence in demand for consumer goods, entertainment, and travel as vaccine availability and guidance opened the door for spending like it’s 2019. Summer midweek waitlists at restaurants have become a thing. With continued strength in class A space, class B and C properties saw improved absorption and declining vacancies. Among the sizzling[…]

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Top Tucson Commercial Real Estate Brokers Recognized by CoStar

Last updated on March 12th 2021

CoStar Group, Inc., the data/analytics leader of the commercial real estate industry, has announced this year’s Power Broker Award recipients, recognizing professionals and firms who closed the highest transaction volume in commercial real estate deals, leading in their respective markets. In Tucson, AZ, Cushman & Wakefield | PICOR maintained uninterrupted achievement among both the Top Leasing[…]

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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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