August 2024 – Knowing the Numbers In Commercial Real Estate
Office Market As the third quarter begins, office vacancy in Phoenix continues to rise steadily. Many businesses are reassessing their space needs, often leading to reductions or closures. Additionally, job growth in traditional office-using sectors has been sluggish for over two years. This structural decline in space demand has driven vacancy up by more than […]
2024 Commercial Real Estate Mid-Year Update
As we settle into the second half of 2024, it’s time to review the overall economy, our current commercial real estate market and what we can expect in the second half of the year. Let’s start with a few of the market indicators that we have our eye on: Labor – Even though employment continues […]
July 2024 – Knowing the Numbers In Commercial Real Estate
Office Market As the second quarter comes to a close, Phoenix continues to experience a steady rise in office vacancies. Local businesses are closely examining the efficiency of their office spaces, frequently leading to reductions or closures. This structural decrease in demand has caused market-wide vacancy rates to increase by more than 500 basis points […]