Tag Archives: real

Phoenix Mid-Year Office Market Report

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“The Phoenix commercial real estate market is continuing to recover quarter over quarter albeit slowly but surely. This increase in activity is touching every product sector; Office, Retail, Industrial and Investment. While vacancy rates continue to decline, some pricing has increased, and absorption has been positive, with submarkets in the valley in all products showing increased activity. The Phoenix market seems to be more confident than the actual economy might dictate, but Phoenix is drawing positive attention nationally in many areas and consumer confidence is following. Most agree that 2014 is a good foundation for 2015, which will be the year when RECOVERY will be spelled with capital letters.”

-Thad Seligman | President/CEO | NAI Horizon

See more by downloading the full report.

 

Park, Ryan look to develop 36 acres in Gilbert

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The Park Corp. has reached a deal with Ryan Cos. to develop 36 acres of commercial property at the southeast corer of Val Vista Drive and Pecos Road in Gilbert.

Gilbert Growth Properties LLC — an arm of Cleveland-based Park — owns the land and has picked Ryan to develop the property into office and medical buildings near Loop 202 in the East Valley.

The build-to-suit development is called Val Vista Square.

Ryan has a number of notable Valley developments, including ASU Research Park and Marina Heights in Tempe.

NAI Horizon’s Lane Neville, Barbara Lloydand Holly Brock will market the property for Park and Ryan.

–  | Senior Reporter | Phoenix Business Journal

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Phoenix 1Q14 Retail Snapshot

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The first quarter of 2014 showed continued improvement in nearly every market category, verifying that the retail market is building on the strength of 2013. Retail rents progressed and rose almost a percentage and a half from the end of 2013, averaging $14.09 throughout the first quarter of 2014, up from $13.91 at the end of 2013. Construction statistics also continued to make significant gains, which indicates that the demand for space is there, which should also help retail rates continue to rise.

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The market continues to gain in transactions in all submarkets. Overall sales and lease numbers continued to grow, and the amount of overall transactions in the retail market were a direct reflection of that. We saw a first quarter trend of move-in leases of numerous spaces of 140,000 SF and over, and saw nearly 30% of the sales transactions gather $150 per square foot. The  improving supply of quality retail space, coupled with Phoenix’s progressing economy, continue to drive lease rates upward.

Read more by downloading the full report.