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 […]
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, […]
Medical Office Market in PHX Thrives
Source: Colliers International As cases of coronavirus and hospitalizations rose in Greater Phoenix following Memorial Day weekend, the area’s second quarter of real estate market activity was also surging. The medical office market posted its strongest quarter of net absorption in nearly two years and vacancy in this product type dropped 50 basis points. During second quarter […]
Covid-19 Living Through Econ. & Social History P. 1
By: Thomas M. Brophy for Colliers International Multifamily Times AZBEX Note: Thomas M. Brophy is National Director of Research & Analytics | Multifamily Investments for the Colliers Cooke Multifamily Team. This column was distributed March 18, and all data were considered current at that time. Even though it has been edited for length, you will notice it is appreciably […]
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 […]
Goettl Purchases Commercial Land for New HQ
Source: Colliers International Goettl Air Conditioning & Plumbing has purchased approximately six acres of land at 8701 E. McDowell Road for approximately $5M. The company plans to build a new corporate facility on the site that will serve as its corporate headquarters and also house the firm’s new “Goettl University.” The property will be the […]
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 […]
DBM Ventures to Build $9M Office in SDLE
Source: Colliers International A local partnership known as DBM Ventures has purchased 2.79 acres within Perimeter Center with plans to develop an $9M office building in the upcoming year. DBM Ventures, a partnership comprised of David E. Sellers and two other prominent commercial real estate development leaders, purchased the acreage at 8399 E. Hartford Dr. […]
Investment Report Shows Q2 Improvement
Source: Colliers International in Greater Phoenix Colliers International in Greater Phoenix has released its Investment Report for Q2, and things are generally looking up. Investment Overview After a slow start to 2017, many of the trends that emerged during the first quarter reversed course during the second quarter. More properties sold, prices trended higher and […]
Don’t Toll the Bell for Retail Just Yet
By Roland Murphy for Arizona Builder’s Exchange Over the past couple of years, the weeping and gnashing of teeth for retail, particularly in the Big Box sector, has been nearly biblical in its intensity. A lot of that doom and gloom, however, may just be an abundance of hype and a dearth of fact. Two […]