As we entered the second quarter of 2015, key drivers for the Tucson industrial market included logistics and call centers, with the mining industry preparing for the next wave. Tucson’s unemployment rate dropped 0.3 percentage point to 5.6% in February, considered close to full employment. That being said, the slow pace of job growth remained of primary concern and impeded stronger market[…]
Operating fundamentals continued to slowly improve in Tucson with modest decreases in vacancy, positive absorption, a small increase in rental rates and some continued decline in rental concessions. Average vacancy dropped from 9.4% to 9.3% and the average rental rate essentially held steady, averaging $635. In a continuation of a four-year trend, higher occupancies and stronger increases in[…]
The TAR Scorecard gathers data from different sources to present a broader, comprehensive view of the overall real estate-housing and development market. The objective is to identify emerging trends in various subsectors. Viewed separately, these subsectors may not appear to be interrelated. But over time, the data ultimately converges to affect the performance of the entire market.
From Vancouver, B.C. with the lowest tracked vacancy rate to Birmingham, Alambama with the highest, Cushman & Wakefield has compiled statistics on the North American industrial markets. Where does yours stack up against the field of primarily U.S. cities and industrial markets?
We've been in the prognostication business of late, and have gathered a great deal of data on the Tucson commercial real estate markets in one slide deck.
On Wednesday, Metropolitan Pima Alliance (MPA) announced Pima County's approval of fee credits for prior new development. When considered with last month's change in connection fee structure for new construction, the comprehensive changes that MPA was able to negotiate with Pima County will certainly save Tucson-area commercial real estate owners and investors substantially when doing new[…]