Cushman & Wakefield | PICOR's $3.7 Million Total in Northwest Tucson's Industrial Scene
Cushman & Wakefield | PICOR recently facilitated two noteworthy industrial property transactions in the northwest region of Tucson.
PICOR Connect | Trends in Commercial Real Estate
Tucson's Multifamily Landscape: Q2 Market Insights & Trends
Tucson’s average multifamily vacancy rate increased 0.60% to 8.09% in Q2 2023, representing a 26.81% increase YOY. The Tucson market’s leasing activity slowed as the new year turned, but toward the end of the first quarter regained velocity. The average gross apartment rent without utilities increased $7 (0.61%) from Q4 2022 to $1,164 per unit/$1.53 per square foot (sf). Of completed transactions[…]
Why a CRE Advisor is Essential for Your Location Search
The quest for the ideal business location in Tucson or Southern Arizona is a pivotal journey, one that requires an adept navigator – a Commercial Real Estate (CRE) advisor or broker. Just as every successful voyage calls for a competent captain, every business relocation or expansion necessitates the expertise of a dedicated Tucson commercial real estate partner. Let's delve into the reasons why[…]
Central Tucson: Olive Tree Apartments and a Medical Office Building Acquired for Over $3M
Cushman & Wakefield | PICOR had a number of sales transactions last week. Among them, two deals stand out in central Tucson that showcase the variety of investment opportunities available in the area.
Circle K Disposition: Opportunity for Small Business Owners & Investors in Southern Arizona
Cushman & Wakefield | PICOR recently sold a2,112-square-foot retail buildingin central west Tucson whereRob Tomlinson and Greg Furrier, Principals and Retail Specialists, represented the seller in the transaction.
From Apartments to Warehouses: C&W | PICOR Wins with The Beverly on Fifth & Palo Verde Industrial
The top sale this past week at Cushman & Wakefield | PICOR was of The Beverly on Fifth, a residential property in Central Tucson, where our Multifamily Team, Allan Mendelsberg, and Joey Martinez represented both parties in this transaction. The top lease was of industrial space within Southwest Tucson, where Robert C. Glaser, Industrial Specialist, represented the landlord in this transaction.
Multifamily Market Slows Down in Q4: Vacancy Rates Increase and Rents Soften
In the fourth quarter, Tucson saw the average vacancy rate increase 1.20% to 7.46% from the previous quarter, which is also a 3.08% increase year over year (YOY).
Industrial Market: Historically Low Vacancy Rate, New Expansions, & Price Inflations
The Tucson industrial market remained stable at year end, with market-wide vacancy approaching a historic low of 2.5%. Net absorption in Q4 was estimated at 590,980 square feet (sf), about half in newly constructed projects. Demand is being driven primarily by logistics, distribution, manufacturing, and the cannabis industry.
Industrial Properties Continue to Be in High Demand
The top sale this past week at Cushman & Wakefield | PICOR was of a lot at Rio Rico South Industrial Park where one of our Industrial Specialists, Jose Dabdoub, represented the seller in this transaction. The top lease was of another industrial space, a renewal at Country Club Commerce Center where one of our Industrial Specialists, Robert C. Glaser, SIOR, CCIM, Principal, represented the[…]
Tucson Industrial Market Remains Active
The top sale this past week at Cushman & Wakefield | PICOR was of a 9,900 square foot (SF) industrial building located near Interstate 10 where Paul Hooker, SIOR, Principal, Jesse Blum, Principal, and Andrew Keim, Industrial Specialists represented the seller in this transaction. The top lease was of a 16,100 SF industrial space at North Business Center where Paul Hooker, SIOR, Principal,[…]