In the midst of ICSC's RECon, the retail real estate industry's largest deal making event, statistics continue to support the relationship between retail sales and the demand for industrial real estate. That being said, local growth remains tepid. However, as always, national trends and cycles will come to impact the Tucson market.
Highlights from our first quarter 2011 office market presentation at the Pima County Real Estate Research Council on May 5, 2011.
As the recovery slowly continues and the dust settles, we are seeing some clear and notable patterns. While overall Tucson vacancy rates have climbed from an all-time low of 3.1% in 4Q 2005 to a high of 8.8% in 1Q 2011, not all properties have fared equally. As landlord requirements on credit have loosened and preferences begin to shift from national to local tenants, a consistent “flight to[…]
In 19 years tracking the Tucson industrial market, business park occupancies peaked in 2007 at 94.9%. What does the 2010 trough of 82.0% (second only to 1992 by a hair) tell us about the state of business expansion and contraction in the Tucson industrial sector, and is it a microcosm of national market conditions?
As simple as it seems, this can be a very difficult question, whether you seek Tucson office space or another type of commercial building. Every business is different...yet the factors affecting this decision are pretty constant. A good place to start is a discussion with your attorney and/or CPA to determine which options provides the best tax advantage for your business. Tax deductions,[…]
A short history...PICOR began quietly, as a humble Tucson commercial real estate boutique firm in 1985. Back in the day, our founder gave a sly smile when anyone would say, or imply, "who are these guys?" Never seeking to dominate the market--only to deliver service that exceeded expectations--growth happened. It happened organically. Mike Hammond, then Tucson’s top producing commercial broker,[…]