In addition to the Phoenix office leasing marketing reaching its nineteenth straight quarter of positive office absorption, the office sales market also performed well with 18 sales totaling $293 million. The average price per square foot of these transactions was $139.07 with an average cap rate of 7.17%.
Metro Phoenix recorded a whopping 9.8 million total square feet of industrial absorption in 2017. This is the largest annual net absorption gain in Phoenix history. The total also marked the fourth consecutive year of annual net absorption in Phoenix, totaling 6.0 million square feet or more, which has not been seen since 2004-2007. The previous peak of nearly 7.9 million square feet in 2005 fell in the middle of one… Read More
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Metro Phoenix recorded 2.1 million total square feet of office absorption in 2017. This marks the fourth straight calendar year with at least 2.0 million square feet of positive absorption gains, the longest streak of its kind ever recorded in the Phoenix office market. The total also ranks Phoenix as the fourth highest market with absorption gains in the United States. Phoenix ranks behind… Read More
Declining revenues. Aging facilities. Rising pension liabilities. These factors, combined with the pressure of delivering a high-quality, high-tech campus experience that younger generations expect, and it’s clear that higher education leaders here… Read More
Left: Katie McIntyre, Right: Mari Lderman, JLL Senior Associates
In October, our JLL family welcomed Katie McIntyre and Mari Lederman to our Healthcare Solutions group. The two are the first Healthcare Solutions team members in our Phoenix office. McIntyre brings her experience working for healthcare… Read More
JLL Chief Economist Ryan Severino recently visited Phoenix to present his views on today’s U.S. economy and the impact national conditions may have on the Phoenix commercial real estate market. Here are his top 4 takeaways.
1.Goldilocks economy should continue, with the potential for upside depending upon policy.
There was nearly 1.5 million square feet of new office under construction in Metro Phoenix at the close of the third quarter 2017. Over half of the new construction is pre-leased, occurring mostly in build-to-suit projects. The majority of development in the Valley is located in the Southeast Market Area, totaling 960,548 square feet.
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.