Phoenix Retail Posts Positive Net Absorption in Q3
Source: Colliers International The Greater Phoenix retail market posted positive net absorption in third quarter, despite the continued impact of the COVID-19 pandemic. Vacancy rose slightly during the quarter to 7.7 percent as the city was recognized for comparatively low unemployment and small business closures. During third quarter, Greater Phoenix posted a 1.7 percent increase in unemployment, finishing September […]
PHX Industrial Market Surges During Pandemic
Source: Colliers International The Greater Phoenix industrial market has surged during the COVID-19 pandemic, driven largely by the country’s increased use of e-commerce and elevated grocery shopping while restaurants were closed. Completion of new industrial projects in 2020 has been the strongest year in more than a decade. Arizona’s business-minded approach led to more companies remaining open during the pandemic. The Trade, […]
Subleasing, Rent Pressures Equal Trouble for Office
By Rayna Katz for GlobeSt.com Given corporate America’s reluctance to return to offices rather than work from home, current conditions in office properties—and the likely near-term future—are looking bleak. Looming excess supply on the horizon will also be a problem, according to a new report on the top 25 US Office Markets from Colliers International. All told, the mid-year research stated, […]
Phoenix #2 in Data Center Growth
Source: JLL COVID-19’s impact on public safety and stay-home orders drove significant demand for immediate digital connectivity around the world. JLL’s 2020 Mid-Year Data Center Outlook finds data centers’ resiliency and reliability established the sector as one of the few to perform strongly during the first half of the year. According to the report, Phoenix ranks as a top […]
Online Commerce Driving Growth in Industrial
Source: Colliers International The Greater Phoenix industrial real estate market remains healthy, despite business conditions during the pandemic. America’s growth in online purchasing is driving expanded demand for warehouse/distribution space. Net absorption of industrial space peaked at more than 2MSF in the second quarter. This marks the fifth consecutive quarter with net absorption exceeding 1MSF. Year-to-date the market has posted 3.7MSF of […]
Q4 Office Space Net Absorption Topped 1MSF
Source: Colliers International The Greater Phoenix office market experienced its best year since 2008, posting strong net absorption and adding more than 3.4MSF of new space to the inventory. The metropolitan area has been recognized with three of the Nation’s top ten “Best Cities for Jobs,” as researched by WalletHub. Scottsdale, Chandler, and Tempe were […]
Phoenix Office Market Remains Strong
Source: Colliers International in Arizona The Greater Phoenix office market remained strong through third quarter 2019 and remains in the Top Five metro areas for job creation in the United States. Since July, more than 14,000 new jobs have been announced, which will fuel demand and development of more office space. Third quarter 2019 was […]
Apartment Construction May Slow in 2018
By Florentina Sarac for RentCafé Following an almost decade-long period of vigorous expansion, the growth of the U.S. renter population has reached a plateau in 2016. Construction had continued to break records – until this year, when Yardi Matrix market data suggests that the total number of new completions is going to remain far below the 300K mark. […]
Decade of Renter Continues Market Stability
By Roland Murphy for Arizona Builder’s Exchange The “Decade of the Renter,” as the current state of housing has been called by ABI Multifamily Research Director Thomas Brophy, continues unabated. In the company’s Q1 2018 market analysis for the Phoenix MSA, he writes, “We are living through a tectonic demographic shift pushing us further and […]
Phx: Leading Emerging Industrial Mkt
By Roland Murphy for Arizona Builder’s Exchange A recently released report form Colliers International – “Top 10 Emerging U.S. Industrial Markets to Watch in 2018” – named the Phoenix area as a national leader. “The momentum that built in the Greater Phoenix industrial market the past few years is forecast to carry over into 2018, […]