Category Archives: JLL Research

Valuable expert-provided insight on the Phoenix real estate market.

Phoenix Startup growth ranked No. 8 in the nation

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Greater Phoenix is the eighth best metro for entrepreneurs in the nation, according to the 2017 Kauffmann Startup Activity Index which tracks startup growth in the U.S. The Grand Canyon State earned the No. 4 spot for state startup activity, just behind California, Texas and Florida

The Kauffman Startup Activity Index focuses on… Read More

What’s the real cost of building out office space in Phoenix?

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Isagenix’s new headquarters in Gilbert, Arizona.

 

You might expect the priciest place to set up shop in a new office would also be the one with the priciest rents. But there’s more than meets the eye when it comes to the cost of converting outdated office space into… Read More

Phoenix is one of the fastest-growing metropolitan areas in the U.S.

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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 with the highest… Read More

Two Phoenix universities among the most wanted alumni for tech employment

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Click on chart to view larger.

According to the “2017 Most Wanted Tech Employee” report, Arizona State University ranked 10th and University of Phoenix ranked 22nd in volume of hires made by the top 25 Silicon Valley companies in 2016.

Not only does Phoenix provide cheaper rents and a… Read More

Arizona State University recognized for innovation driving economic growth in Phoenix

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Arizona State University (ASU) ranked 21st in the Milken Institute’s “University Technology Transfer and Commercialization Index.” The Index quantitatively measures how public and private universities capitalize on their research success by converting it for private-sector applications.

With an index score of 100, the University of Utah ranked first in the study followed closely… Read More

Fewer bricks, more clicks, & virtual tellers: Five Changes on the Horizon for Branch Banks

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The banking model of yesterday was all about the brand with the most locations—the “bricks”. Today, banks are measured by how effectively they deliver remote, anytime, anywhere access to their customers—the “clicks.”

The days of the bank branch being the most immediate and visible way customers interact with banks are long gone. The… Read More

Phoenix tech sector continues to thrive

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According to a recent report released by the Computing Technology Industry Association, the average annual salary of a tech employee in Phoenix was $98,870 in 2016. Workers employed in the Phoenix tech sector earn nearly twice the average metro area salary of $50,200.

Arizona ranked ninth nationally with 48.3 percent of all tech… Read More

Average office asking rent increases to the highest level since 2008

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The average asking rent in Metro Phoenix reached $24.91 per square foot (Full Service Gross) in in the first quarter of 2017. Asking rents have increased 4.9 percent from one year ago and have surged 22.8 percent since 2012.

Phoenix asking rents are still 7.1 percent below the pre-recession peak of $26.82 set… Read More

Scottsdale, Deer Valley Submarkets Prevail in JLL Q1 Phoenix Industrial Report

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Growth among traditional and non-traditional industrial users continues to push the Phoenix industrial market forward. This is particularly true in Scottsdale and Deer Valley, where asking rents surged as much as 30 percent in the first quarter of the year as demand surpassed new product in Scottsdale and matched new supply in Deer Valley, according to our Q1 2017 Phoenix Industrial Insight report.

While the average asking rental rate for local industrial space is $0.50 per-square-foot,… Read More

History Repeating: JLL Q1 Report Shows Highest Phoenix Office Rents Since 2007

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Even with more than 1.1 million square feet of new space delivered in the first quarter of the year, average asking rents for Phoenix office product has increased to the highest level in nine years, according to the JLL’s Q1 2017 Phoenix Office Insight report released. Reaching $24.91 per-square-foot, today’s Phoenix office rent average is just 7.1 percent lower than the pre-recession high of $26.82, set in Q4 2007.