In the years of recovery following the recession, there has been increased demand for quality, Class A office space. Often making up for losses recorded within Class B and C properties, Class A absorption has outpaced that of overall Phoenix since 2008.
Tenants have been flocking towards these newer Class A properties, driving demand… Read More
Phoenix has yet to recover all the jobs lost in the recession. A few employment sectors such as financial activities and leisure & hospitality have already exceeded their previous peak. Unfortunately, their gains are not enough to offset the dramatic losses experienced by the lagging industries: manufacturing and construction.
Over the last five years, two dynamics have propelled growth in the data center industry: businesses outsourcing their IT infrastructure needs and the popularization of cloud computing. In response to these trends, the North American data center market is expected to see its revenue grow by 32 percent from 2014 to 2016 to $14.8 billion. So what does all this mean?
Law firms face more supply constraints than companies in nearly any other industry. Why? Law firms typically target premium, Class A space in central locations—the tightest segment of U.S. office markets. With fewer space options, your firm may find itself battling with competitors not only for clients—but for desired space as well.… Read More
Buildings between 10,000 and 100,000 square feet make up over 55 percent of the industrial inventory in Phoenix. These smaller buildings have seen increased demand since the recession as smaller users regain confidence in the recovering economy. A large share of recent construction has been in large product sizes above 250,000 square feet.… Read More
In honor of Breast Cancer Awareness Month, we explored Phoenix’s medical offices and health care buildings. Strong employment in the healthcare sector helps to keep vacancy rates in medical office and health care buildings steady, with minimal fluctuations in the last five years. Healthcare is one of the leading employment industries in Phoenix:… Read More
In honor of football season, we explored how the office markets of Phoenix’s rivals in Saint Louis, San Francisco and Seattle matched up to their professional football teams. Phoenix is a rising star both on and off the field, recording the largest absorption gains of the year as of the second quarter.