Tag Archives: financial services

Technology driving amazing growth, at least for now…

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Technology has affected banking and financial services and how they are evolving. Four themes have emerged to illustrate the rapidly changing industry.

  1. Integration, integration, integration!
    With so many new lines of business, financial service companies became challenged on how best to integrate functions to be more efficient, serve customers at the highest
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Q1 Industrial Outlook: 2015 marks a turning point in the Phoenix economy

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The Phoenix economy exceeded expectations in 2014, and despite a seasonal slowdown after the holiday season, the first quarter of 2015 kicked off in the right direction as well. The core industries in the Valley, including financial services, tourism, and professional services, have been driving much of the growth. Phoenix is outperforming the Western U.S. in year- over -year nonfarm payroll growth and continues to see strong levels of hiring. Unfortunately, a few pockets of weakness continue to delay a full recovery in Phoenix. Construction and Manufacturing industries within the Valley are stagnant and have not added many new jobs since the recession. The single-family housing market has cooled and developers remain stubborn as new construction permits remain at record low levels. Demographic trends within the Phoenix metro area continue to defy limited new residential construction. The Valley is seeing population gains accelerate and are expected to exceed the historical average soon. A majority of growth stems from migration into Phoenix as evidenced by the fact that the local pool of residents grew nearly twice as fast as the nation’s in 2014. These demographic trends support growing household formation, labor force expansion, and additional residential construction in 2015.… Read More

Phoenix, banking & finance: Metro ranks among top five in real estate report

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BankingReport2Fintech, omni-channel strategies re-shaping real estate demands, re-defining financial centers

While banks still represent the largest occupiers of trophy Class A office space in most major cities, the financial services industry is changing its office and retail footprints. Banks are consolidating personnel in less expensive locations, new financial tech companies (or ‘fintech’) players are emerging and retail banks are evolving altogether.

However, when it comes to choosing where to set up shop, Phoenix remains high on the list of favorites.… Read More

Phoenix Office Insight: New development returning to pre-recessionary levels

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Click on image to view full report.

Click on image to view full report.

Bifurcated market
The overall Phoenix office market currently stands 22.2 percent vacant, significantly lower than its recessionary high of 27.1 percent vacant back in 2010, but has a long way to go before it reaches its previous low of 11.2 percent in 2006. As the Valley becomes a much more active market, the divide between the West Valley and East Valley continues to grow. Tenants are choosing to locate along the Loop 101 corridor spanning from Chandler and Tempe in the south to Scottsdale in the North. This activity has brought vacancy in the east below 20 percent as opposed to the west side of Phoenix that continues to struggle with a 27.9 percent vacancy rate.… Read More