Tag Archives: professional services

Phoenix employment update: May 2015

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Slide 1Phoenix 12-month job growth has remained strong, adding over 55,000 jobs to the Valley.

Education and Health Services led the charge, adding 11,700 new jobs over the last 12 months. Professional and Business Services came in close second with 11,207 new jobs and Trade, Transportation, and Utilities added an additional 10,803. The under-performing Construction sector… Read More

Q1 Industrial Outlook: 2015 marks a turning point in the Phoenix economy

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IndustrialOutlookEconomy
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 Employment Update | May 2014

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May Phoenix Employment UpdatePhoenix employment growth has slowed slightly to 2.2 percent over the last 12 months. The Valley added 39,900 new jobs new jobs over the last year.

The top four sectors include Trade, Transportation & Utilities, Education & Health Services, Professional & Business Services, and Financial Activities. These four employment sectors make up the… Read More

BOMA survey reveals positive outlook for building owners, especially corporate and mixed-use facilities

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2013-Prabhu-Michael-CoStar-128x200Michael Prabhu, Managing Director of our property management portfolio in Arizona, Southern California and Nevada, shared his thoughts with CoStar on Building Owners and Managers Association (BOMA) International’s survey “What Office Tenants Want: 2013 BOMA Global Office Tenant Survey Results.”

Michael shared that the outlook among building owners is confident due to the improving economy positively affecting their assets and associated tenant services.

“We feel the

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