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
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
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.
Total non-farm employment in Metro Phoenix reached 2,023,400 payrolls in April 2017, representing an annualized increase of 48,800 jobs. As a result, unemployment was reported at 3.9 percent in April, down 60 basis points from one year prior. This is the lowest unemployment rate we’ve seen in Metro Phoenix in ten years.
Job growth was led by the Leisure & Hospitality and Financial Activities sectors, which added 14,700 jobs and 8,800 jobs, respectively.… Read More
Maricopa County grew by 81,360 residents between July 1, 2015 and July 1, 2016, the largest population gain in the nation. Harris County, Texas, had the second-largest net migration, growing by 56,587 people over the same time period.
The city of Phoenix added approximately 32,113 residents over the same time… Read More
Phoenix’s population rose from nearly 4.2 million to more than 4.6 million from 2010 to 2016 based on new population estimates released by the U.S. Census Bureau. Metro Phoenix averaged a total net increase of over 1,436 persons per week over that time period.
Of the top ten metro areas… Read More
The latest edition of JLL’s Investment Intensity Index has Phoenix making the cut. The “Valley of the Sun” took the 27th spot on the top 30 list for global real estate investment intensity.
High-tech and innovation helped Phoenix rise on the prestigious list, which included several small to midsized “New World Cities” with similar population levels (1… Read More
According to INRIX Global Traffic Scorecard, traffic congestion cost drivers in the United States nearly $300 billion in 2016, or an average of $1,400 per driver. Phoenix and Detroit tied for the lowest cost… Read More
As multifamily rent growth begins to slow among the nation’s biggest markets, a few markets are maintaining their strong performance and driving positive trends over the forecast horizon. Phoenix is one such market in the West region that is expected to outperform due… Read More
We are proud to recognize these outstanding professionals for their commitment to developing enduring client relationships built on excellent service, collaboration and trust.
From left to right, top to bottom:
Pat Williams, Senior Managing Director
Andrew Medley, Managing Director
John Bonnell, Managing Director
Tony Lydon, Managing Director
Marc Hertzberg, Managing Director
John P. Cunningham, Executive… Read More