“The Phoenix retail real estate market continues to flourish with vacancy rates falling and traditional developments and anchor tenants flanked by shops breaking ground and delivering during the first half of 2016. ”
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“The Metro Phoenix industrial market showed a strong first half with vacancy declining and rental rates continuing their steady climb. In addition, leasing activity flexed its muscle with more than 7.8 million square feet leased so far in 2016. “
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The first half of 2016 proved to be a strong sign of future growth in the marketplace. “Brokers are seeing increased confidence in the market as buyers and landlords are investing in their buildings or in new builds. And the mentality is changing. Instead of landlords working to maintain the status quo or buyers simply looking for a good deal, higher rates are demanding the features that tenants desire.”
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