Each year, several commercial
real estate firms analyze market activity based upon their numbers and reports
from the last 6 months as well as project estimates for the coming year.
Experts in retail, industrial, multi-family, medical and office markets went
through their reports from 2016’s first two quarters in Greater Phoenix; they
found that although the general commercial real estate market is progressing at
a steady pace, there are no identical or similar levels of activity in any of
the sub-divisions.
Retail
Trends – Vacancy Down, Rent Rates
Up, Net Absorption Down
Key Stat – Retail Vacancy in the
Greater Phoenix Metro is 60 Basis Points Lower than One Year Ago
Outlook – Despite Setbacks, the
Market is Trending Upward at a Modest Rate and Looks to Continue This Trend
Throughout the Rest of the Year
Industrial
Trends – Vacancy Flat, Rent
Rates Up, Net Absorption Down
Key Stat – Net Absorption in Q2
is Down for the First Time in 12 quarters
Outlook – The Market is in
Recovery, but Looks to Improve with a Strengthening Housing Market on the
Horizon
Multifamily
Trends – Vacancy Up, Rent Rates
Up, Transaction Activity Up
Key Stat – Rents Have Risen Over
8% Over the Course of the Last 12 Months
Outlook – More Improvement in
the Multifamily Market with Vacancies Tightening and Rents Continuing to Shoot Upward
Medical
Trends – Vacancy Down, Rent Rates
Up, Net Absorption Up
Key Stat – Vacancy Has Dropped
180 Basis Points Over the Last Year
Outlook – Expectations for Tenant
Demand to Rise to its Highest Since a Decade Ago
Office
Trends – Vacancy Up, Rent Rates
Up, Net Absorption Up
Key Stat – Net Absorption
Totals Have Surpassed 4.7 Million Square Feet Over the Last 12 Months
Outlook – The Market is Expected
to Remain Healthy as Job Growth Continues to Rise
Want to read the full article? Click Here
No comments:
Post a Comment