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PICOR Connect | Trends in Commercial Real Estate

Office Conversions on the Rise

Last updated on August 23rd 2023

As the Tucson office market continues to recover from the pandemic, owners are finding innovative ways to repurpose excess space. With widespread adoption of remote work and a tight labor market, many large office properties stand vacant.  According to the Arizona Daily Star, users are converting these spaces to grow houses, pickleball courts, storage facilities, and industrial space.

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From Apartments to Warehouses: C&W | PICOR Wins with The Beverly on Fifth & Palo Verde Industrial

Last updated on March 1st 2023

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.

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Tucson Industrial Market Remains Active

Last updated on December 29th 2022

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,[…]

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Central Tucson Continues to Have High Investment Activity

Last updated on December 21st 2022

The top sale this past week at Cushman & Wakefield | PICOR was of Vine Apartments, an 8-unit investment property located just south of the University of Arizona campus. C&W | PICOR Multifamily Specialists, Allan Mendelsberg, Principal, and Joey Martinez represented both parties in this transaction. The top lease was of an 8,000 square foot (SF) industrial property at 2055 E 17th St, located in[…]

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Central Tucson Remains Active With Apartment Sales & Leasing of Industrial Warehouses

Last updated on December 7th 2022

The top sale this past week at Cushman & Wakefield | PICOR was of 32nd Street Apartments, an investment property located in central Tucson where our Multifamily Specialists, Allan Mendelsberg, Principal, and Joey Martinez represented both parties in this transaction. The top lease was of a 43,065 square foot (SF) industrial space, also located in central Tucson, where our Industrial Specialists[…]

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Apartment Sells for $8.5 Million & Industrial Properties Continue to be Leased

Last updated on November 23rd 2022

The top sale this past week at C&W | PICOR was of a 72-unit apartment complex located on Fort Lowell Road where Allan Mendelsberg, Principal, and Joey Martinez represented both the buyer and seller in this transaction. The top lease was of a 15,000 square foot (SF) warehouse/office space near I-10 where Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist, represented the landlord in[…]

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Demand for Industrial Space Continues to Grow

Last updated on October 13th 2022

Last week, our top sale and lease transactions comprised of industrial properties. These transactions illustrate the growing economy and the high demand for industrial space. Meanwhile, the vacancy rates are at a record low of 3.2%. Companies are marking Tucson as a desirable location as we see national growth in the manufacturing and logistics industries. 

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Historical Building Sells for Above Asking Price, While Catering Company Renews Lease in Butterfield Business Center

Last updated on September 28th 2022

Our top sale last week was of a historical office building architecturally ahead of its time where one of our office specialists, Richard M. Kleiner, MBA, Principal, represented the seller. Our top lease was an industrial space from a local catering company that not only serves exceptional food but provides catering for emergency responders during crises. Paul Hooker, SIOR, Principal, Andrew[…]

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Renovated Investment Property Sells for $1.2 Mil, While a Warehouse Distribution Center Supports Nearshoring Manufacturing

Last updated on September 21st 2022

The multi-family and industrial team produced the top sale and lease transactions last week at C&W | PICOR. Allan Mendelsberg, Principal, and Conrad Joey Martinez recently sold an apartment property near the University of Arizona. Across the border, Jose Dabdoub, Industrial Specialist, represented the tenant during the lease of a warehouse distribution center in Mexico.  

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Tucson Industrial Market Sees Soaring Demand

Last updated on August 20th 2021

In Q2 2021, Tucson industrial and flex space of all types remained the darling during tumultuous pandemic times and for the foreseeable future. E-commerce and expanded consumer buying power drove logistics and fulfillment demand and a 5.5% vacancy rate in the market.

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