The significant decline of transactions in primary markets has sustained strong liquidity in secondary and even tertiary markets. As a result, secondary markets comprised 44.6 percent of total multifamily transaction volumes at midyear, a record for this indicator if analyzing the past nearly two decades. Phoenix and Denver led… Read More
There have been no signs of a slowdown as the market continues to record strong absorption gains, consistent rent growth and healthy development activity. This year is on pace to record over 8.8 million square feet of positive absorption, marking the eighth consecutive year of positive absorption gains.
During the previous cycle,… Read More
Construction activity is robust in the Phoenix market, and is expected to continue through at least the first half of 2018 based on current forecasts. Office, industrial and multifamily development is at an all-time high, and there are many new ground-up, build-to-suit projects underway throughout the… Read More
Office rental rates in the Phoenix market increased to $25.21 per square foot in the second quarter, quickly approaching the previous peak of $26.82 per square foot set in 2007.
With absorption surpassing 12.6 million square feet and only 8.8… Read More
As the real estate market continues to appreciate in value, commercial real estate owners are advised to review and, if prudent, appeal property tax assessments. Counties in Arizona, Utah and California have or will be issuing assessment notices and hearing appeals in the fall providing an opportunity for commercial… Read More
Don’t blink—today’s data center landscape is changing fast, as leading providers and users strive to stay competitive amidst rapid change. With record-breaking activity in M&A and data center construction in North America up a whopping 43 percent in the first half of the year, 2017 promises to be an… Read More
In 2016, approximately 43 million people visited Arizona spending a record $21.2 billion in the state. The Phoenix MSA accounted for more than 65.5 percent, or $13.9 billion, of all spending in Arizona. With an estimated Gross Domestic Product of $9.2 billion, tourism is the number one export industry in the state.
From New York to Chicago and here in Phoenix, creative companies have traditionally flocked to nonconventional, creative spaces located off the beaten bath. Not so much anymore, according to JLL’s newest Skyline Report. With the lack of creative space in unique and eclectic neighborhoods across the country, technology, advertising, media and information companies… Read More
The Phoenix office market recorded some of the highest absorption gains in the country last year. Halfway through 2017, the market is still going strong. Phoenix ranked No. 3 for positive net absorption year-to-date, trailing behind only Seattle-Bellevue (2.8 m.s.f.) and Dallas (2.6 m.s.f.).
The 1.5 million square feet of… Read More
According to JLL’s Q2 Phoenix Office Insight Report, five new office projects totaling 638,090 square feet broke ground in the second quarter of 2017. One of the five projects is the Camelback Collective, the ±3.62 acre mixed-use project in the prominent Camelback Corridor which will consist of office space and a hotel. This… Read More