Be sure to check out our latest Office Market Report featuring insight from office agents Troy Giammarco and Nathan Pancrazi.
“With the varying conditions of each submarket, now more than ever owners and tenants alike need the core competencies and “boots on the ground” knowledge of brokers with experience in each given micro-market. This allows owners and tenants to be accurately informed of the users in the market, true vacancies and the “basket of concessions” that should be offered or expected when making their transaction decisions.”
Be sure to check out our latest Industrial Market Report featuring insight from industrial agents Rick Foss and Brock Amundson.
“Year end results for 2014 in the valley’s industrial market give reason for optimism for 2015. The sector experienced over 7 million SF of net absorption in 2014, the strongest growth since 2005. This is a significant feat considering that 6.38 million SF of new construction was delivered in 2014. This marks the highest amount since 2008. Additionally, another 2.76 million SF is currently under construction as of the beginning of 2015. Further proof of the improving market was seen with a 3.5% increase in rental rates, for 2014, the third straight year of raising rents. This continued improvement is due in part to an improving economy, tightening of available product and job growth; the unemployment rate dropped to 5.9% from 6.8% at the mid-year point.”
Check out NAI Horizon’s own Isy Sonabend contributing an article to the February issue of Western Real Estate Business Magazine! In explaining the growth in construction that has occurred in the Phoenix Industrial Market, Sonabend writes, “The analogy could be expressed as a ‘Frankenstein Economy’, where all the body parts have been stitched into place while we search the horizon for the lightning strike that will generate the pulse, allowing us all to finally say, ‘It’s alive!'” See the full article in the image below.