One of the most misunderstood aspects of commercial leasing is the use of brokers and representation. It’s important for occupiers of space to understand representation, how brokers can assist in the process, and the costs associated with using a broker. As the market quickly shifts to a landlord favorable market, tenants need a good representative now more than ever. Continue reading →
Since the beginning of my time in this industry I was told about the great ICSC convention in Las Vegas, Nevada. Stories from around the office filled my expectations and created an extravagant image in my head of Wall Street like meetings and negotiations with the best real estate minds all over the world.
There is a term that has been born over the past seven years, “The New Normal.” What does this mean when we say it? How has it changed the landscape of negotiating and more importantly, how does it fit in to how we actually complete transactions today?
Vacancy Expected to be 10% or less by end of the year
The Metro Phoenix retail market is continuing to improve with strong momentum continuing to build in leasing activity as well as investment sale transactions. Additionally, the trend in rental rates, which lag behind leasing and absorption activity, has also bottomed out and has turned positive. With minimal new construction in the pipeline, market fundamentals are favorable for strong continued momentum growth in leasing, absorption and rent growth.
Arizona has a history of a blade and rebuild philosophy when it comes to changing the use of a particular property… but lately we have seen several innovative projects which utilize the original building to make something more unique and less cookie cutter. Continue reading →
The Phoenix Retail market has turned the corner and is now finally, on the path to recovery.Although the recovery may be slow and steady, there is relief in the market that we’ve reached the light at the end of tunnel… & it has become clear that it’s not an oncoming train.