A delegation of BOMA Tucson and BOMA Phoenix members represented member issues as part of Arizona BOMA Advocacy Day in Phoenix last week. The group included Arizona BOMA President and Cushman & Wakefield | PICOR Property Manager, Mona Deane, who offers this summary of the Arizona legislative office visits.
PICOR Connect | Trends in Commercial Real Estate
News stories from the region this week highlight positive economic development activity impacting the commercial real estate market in Tucson. Summaries below cover hiring announcements, development and construction progress, and recent awards and rankings that demonstrate Southern Arizona's stature as a Sun Corridor growth market.
Chief Economist Ken McCarthy of Cushman & Wakefield weighs in on the positive January employment numbers and the critical relevance job creation has on the health of the commercial real estate industry. Read Ken's comments below, and find links to additional research documents at the bottom of the post.
The University of Arizona Office of University Research Parks (OURP) has released a new study documenting the economic impact of the University of Arizona Science and Technology Park (UA Tech Park) and its significant contribution to Pima County’s economy.
Let’s make 2012 the breakthrough year for the commencement of a robust redevelopment of Tucson’s downtown. Cities nationwide have found ways to build attractive and functional urban cores. Tucson can, too. There are several obvious reasons why a vibrant downtown is critical to our city.
Arizona’s historic reliance on home-building and construction jobs make economic recovery a slower proposition. Conventional wisdom holds that we will not return to those heady days, and the job base must diversify. Why care about Arizona housing if you live and work elsewhere? As global commerce and finance are increasingly interrelated and interdependent, we can't ignore the fact that domestic[…]
Tucson is a glorious place to live, work and play. Like all cities, we have our issues and our detractors, but on the eve of this Thanksgiving holiday, we choose to focus on Tucson's blessings. PICOR grew its business in Tucson and remains locally owned. We are here for the long haul and believe in Tucson's past, present and future.
With aging U.S. infrastructure and an overburdened interstate system, one Tucson property owner is working on creative solutions to increase cargo business through the Port of Tucson intermodal facility at Century Park Business Center.
To sharpen Tucson’s competitive edge, Tucson Regional Economic Opportunities (TREO) is partnering with other Arizona communities to promote the concept of the “Sun Corridor” to site selectors and C-level business decision makers. The corridor stretches from Yuma to Flagstaff, and both Tucson and Phoenix provide critical assets to TREO’s attraction efforts as well as to the overall promotion to[…]
The City of Tucson deserves substantial credit for the way in which they now deal with Certificates of Occupancy (C of O). In the past, challenges obtaining a C of O were significant enough to devalue properties and bankrupt tenants. The current policy places the focus on the building, not on the tenant. Under the new policy, a business owner may now purchase a building and have a reasonable[…]