Last year proved to be a challenging year globally: the slowdown suffered by the China economy, falling of oil prices and the expectation of raising rates by the FED caused pressure on world markets. Mexico was not the exception.
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Topics: Industrial, Sonora Mexico, Commercial real estate, Manufacturing
We were recently invited to speak at the Southern Arizona CCIM 2016 Commercial Real Estate Forecast. This event focuses on all aspects of Commercial and Multi Family real estate in Tucson, Arizona and brings together market leaders to speak on the various commercial real estate disciplines. Various market specialists share their expertise and perspectives on the general health and advancement, or decline, of the commercial real estate sectors. For 2016, industrial can be referenced as being in a state of advancement, unlike the eight years preceding it.
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Topics: Tucson, Industrial, Sonora Mexico, Land, Commercial real estate, Investment property, Warehouse, Manufacturing
Metro Tucson ended November with a total of 372,000 non-farm jobs, gaining 5,200 jobs year-over-year (YOY), an annualized job growth rate of 1.4%. Personal income rose 2.7% locally over a year earlier. HomeGoods, a division of TJX Companies, announced intent to open its western distribution center in Tucson, a proposed 800,000-square-foot (sf) facility with an estimated economic impact of nearly $900 million. HomeGoods received Pima County approval and awaits a tax incentive decision from the City in February. The real estate is being brokered in part by Cushman & Wakefield | PICOR.
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Topics: Tucson, Industrial, Sonora Mexico, Economy, Commercial real estate, Investment property, Absorption, Market trends, Vacancy, Lease rates, Warehouse
With an improving national economic and employment picture slowly lifting all boats, the Arizona and Tucson employment rates followed suit; statewide employment was up 2.1% over a year ago. Residential inventory continued to stabilize and median sale prices gained 6.2% over prior year. Shared Services Center’s expansion announcement netting 200 new jobs made a positive statement about Tucson as a location to service western states.
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Topics: Tucson, Industrial, Sonora Mexico, Commercial real estate, Investment property, Market trends, Vacancy, Lease rates, Warehouse, Leasing
Nogales, Ariz. is witnessing increased demand for international trade warehouse space and property with the upcoming $244 million expansion of the Mariposa Port of Entry. The Nogales Santa Cruz Port Authority works with key stakeholders in the Nogales community, including commercial land developers and Realtors®, to enhance economic development in the Nogales-Santa Cruz County region.
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Topics: Industrial, Sonora Mexico, Commercial real estate, Warehouse, Foreign trade zone, Transportation, Logistics, Development
The Arizona México Commission held its semi-annual forum last week in Scottsdale with the theme "Are You Ready for International Business?" Because Cushman & Wakefield | PICOR has a decade-long commitment to cross-border commercial real estate, we thought it timely to share an update on the Sonora, Mexico commercial real estate environment and efforts promoting the Arizona-Sonora Region.
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Topics: Tucson, Sonora Mexico, Commercial real estate, Economic development, Foreign trade zone
In his recent appeal to the Tucson Metro Chamber audience and in forums at Tucson CREW and CCIM, Mayor Jonathan Rothschild rallied the business community around the region’s stated Five Ts or five strengths: Technology, Trade, Transportation, Tourism and Teaching.
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Topics: Tucson, Sonora Mexico, Economic development, Community
You might know Mexico is a country with just over 116 million people according, to the estimate made last July. It has 31 States and the Federal District, known as Mexico City. About a year ago, the PRI party got back in power after 12 years of the PAN party being in power. Since then, a lot of good things have happened as a country in different areas such as education, telecommunication, security, energy and more reforms that are currently under negotiation. Without going into much detail, as this article’s intent is to address more of the real estate industry, there is no doubt that Mexico is moving forward and the progress will benefit all of us in Tucson, Arizona and more broadly.
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Topics: Industrial, Sonora Mexico, Commercial real estate, Lease rates, Warehouse, Manufacturing
Geography, cost and a new attitude. Those three ingredients have put Tucson in the national spotlight for companies looking for markets with distribution hubs, a new report shows. Tucson is one of the least expensive cities in which to operate a distribution warehouse and its proximity to key U.S. and international markets makes it attractive to companies looking to expand or relocate, says the report by The Boyd Co. Inc. of Princeton, N.J.
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Topics: Tucson, Industrial, Sonora Mexico, Intermodal facilities, Economic development, Warehouse, Transportation, Logistics, Manufacturing, Rail
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.
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Topics: Tucson, Industrial, Sonora Mexico, Commercial real estate, Economic development, Investment property, Absorption, Market trends, Vacancy, Lease rates, Construction, Office, Retail
