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
Mega deals in the net lease U.S. office sector propelled sales to record high volumes in the fourth quarter of 2016, including boosts in sale leaseback and corporate buyback activity. However, limited retail activity and a slowdown in industrial deal flow brought overall net lease volumes down 18.6 percent at year-end. Pricing diverged across sectors as office cap rates saw mild compression, industrial pricing stabilized, and fourth quarter retail cap rates… Read More
According to the U.S. Bureau of Economic Analysis, Arizona ranked No. 4 nationally for annual gross domestic product (GDP) growth in the second quarter of 2016, just behind of Idaho, Nebraska and Utah.
Arizona’s GDP growth of 2.7 percent was led by growth in real estate and rental and… Read More
The Phoenix retail market continues to enjoy declining vacancy rates and increasing asking rents, both expected to continue into the coming months.
Phoenix’s retail growth is tied directly to the residential real estate market. Lowering foreclosure rates, increased construction, and affordable housing costs have led to the demand for new retail development across the Valley. In neighborhood… Read More
In September, our JLL family grew a little larger with the addition of Tivon Moffitt, Peter Bauman and John Paul Mulhern. The team leads the Phoenix office’s net lease investment sales practice. In the second edition of our “Broker Spotlight” series, we sat down with the new team members to learn more about their brokerage focus area, their background and hobbies.
For office tenants able to think outside of the big box, Arizona’s lingering retail vacancies can equate to major opportunity. Such is the case with the recently completed renovation of the Tucson Galleria – a $16.4 million effort led by the Phoenix office of JLL that transformed a long-vacant retail mall into a cutting-edge Western region customer support center for Comcast Cable.
Located in Tucson, the 165,000-square-foot Comcast facility was originally built… Read More
According to the BLS, total non-farm employment in Metro Phoenix reached 1,964,800 payrolls in February 2016, representing an annualized increase of 67,000 jobs or 3.5 percent. Meanwhile, unemployment continues to improve, decreasing to 4.6 percent,… Read More