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 […]
PHX Office Space Market Remained Positive
Source: Colliers International The Greater Phoenix office market remained relatively healthy during second quarter, despite business interruptions caused by Stay-at-Home orders and impact of coronavirus. The office sector posted its 33rd consecutive quarter of positive net absorption and office vacancy remains below 15 percent. The Phoenix-Mesa-Scottsdale MSA unemployment rate peaked in April at 12.5 percent. Yet, Arizona’s economy […]
Multifamily Report Shows Sector’s Uncertainty
Source: ABI Multifamily ABI Multifamily has published its Q1 2020 Phoenix Multifamily Quarterly Report. And while the start of 2020 was strong, with rent growth, healthy occupancy rates, lower cost of living, and high renter demand all pointing to another extraordinary year, the future has yet to tell how the multifamily industry will be impacted by the COVID-19 global pandemic. With […]
Low Vacancy Despite Lots of New Projects
Source: Colliers International The Greater Phoenix industrial real estate market has a healthy equilibrium in the midst of bringing millions of new square feet to its inventory. Vacancy remains below 10 percent after the city added 6.4MSF of new space in 2019 and has another 10.5MSF under construction. Greater Phoenix has a checkered history of […]
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, […]
3 Major CRE Sectors Show Continued Strength
By Roland Murphy for Arizona Builder’s Exchange Cushman & Wakefield last week issued their Q4 2017 Metro Phoenix MarketBeat reports for Industrial, Office and Retail, noting high degrees of activity across all three sectors. Industrial Industrial posted an overall vacancy rate of 7.9 percent for the quarter. Twelve of the 17 submarkets showed positive absorption […]
Sedona Meditating on 1st MF Dev. Since ’07
By Roland Murphy for Arizona Builder’s Exchange Better known for New Age retail, art galleries, scenic vistas, tourist lodging and single family/vacation housing, the City of Sedona is considering a proposed 45-unit multifamily development on West SR 89A. If the necessary approvals crystalize, 89A Apartments will be the city’s first multifamily development since 2007. The […]