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Commercial Real Estate INSIGHTS

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Find the information you need to make informed commercial real estate decisions with up-to-date insights and the latest commercial real estate news. Our Coldwell Banker Commercial brokerage professionals provide invaluable, game-changing advice for businesses, identify real estate opportunities that others might overlook and offer creative solutions and sound business sense in an ever-changing environment. For more information, contact one of our specialists today.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Land Sales Trends

Insights: Land Sales Trends

The U.S. economy entered a recession in February, 2020, per the National Bureau of Economic Research. Commercial real estate development typically slows during a recession because developers do not want to incur the holding costs of land parcels if there is not an expected demand for new product.

Insights: Student Housing 2020

Insights: Student Housing 2020

The main uncertainty in the student housing sector is COVID-19’s impact on the 2020-2021 school year’s leasing. There is a variety of factors which make the student housing occupancy outlook uncertain.

COLDWELL BANKER COMMERCIAL® REPORTS

Insights: Landlord Employer Liability

Insights: Landlord Employer Liability

The ongoing coronavirus pandemic raises the question of whether landlords with leased properties can be held liable for injuries sustained when someone contracts COVID-19 at the premises.

Opportunity Zones & Taxes

Opportunity Zones & Taxes

What are Opportunity Zones? The real estate industry is buzzing about this new program which allows private investment in country’s distressed communities. CBC brings you a quick overview to help you understand what they are and how investors can use them for their benefit.

Regional Summaries

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Phoenix, AZ

Apartment
The vacancy rate in the Phoenix apartment market ended the second quarter of 2019 at 4.7%, up 30 basis points for the period but equal to the year-end 2018 rate. The 2018 vacancy rate was flat overall. At $1,081 and $1,022 per month, still below national averages, asking and effective averages for the second quarter were up 2.4% and 2.5%, respectively, year-to-date. Gains for the second quarter alone were 1.5% apiece. VIEW APARTMENT LISTINGS >
Industrial
Vacancy in the 150.5-million-square-foot metro Phoenix warehouse/distribution market remains relatively elevated. The second quarter 2019 warehouse/distribution sector vacancy was 13.7%, same as the quarter before and down 30 basis points year-to-date following a 30-basis-points increase all told last year. At $6.13 psf and $5.61 psf, second quarter asking and effective averages represented gains of 1.9% each year-to-date following increases of 3.3% and 3.4% all told last year. Second quarter gains were 0.7% and 0.4%. Vacancy in the 32.4-million-square-foot local Flex/R&D space market, also high, also has declined notably year-to-date. The rate ended the second quarter of 2019 at 15.7%, up 10 basis points for the period but down fully 150 year-to-date following a gain of 140 basis points through 2018. At $11.14 psf and $9.95 psf, second quarter average asking and effective rates for Flex/R&D space as reported by Reis represented gains of 2.2% and 2.8% year-to-date after increases of just 1.2% and 0.7% through 2018. The second quarter 2019 gains were 1.3% and 1.4%. VIEW INDUSTRIAL LISTINGS >
Office
With 76.7 million square feet of existing general purpose, multi-tenant inventory, the Phoenix area office market is not large in relation to the MSA's population base, now approaching 5 million. Reis put the second quarter 2019 vacancy rate at 22.0%, down 60 basis points for the period and down 70 year-to-date following a 20-basis-points decline through 2018. Second quarter average asking and effective rates were $26.31 psf and $20.61 psf, up 1.1% and 1.3% year-to-date following increases of 2.8% and 2.9% in 2018. Gains for the second quarter alone were 0.7% for both averages. VIEW OFFICE LISTINGS >
Retail
In the second quarter of 2019 the Phoenix community-neighborhood shopping center market vacancy rate was 9.8%, up 10 basis points for the quarter but the same as the rate reported for year-end 2018. At $20.91 psf and $18.00 psf, respective second quarter 2019 average asking and effective rents for community-neighborhood center space represented gains of 0.9% and 1.0% year-to-date following increases of 1.2% and 1.4% in 2018. Growth rates for the second quarter alone were negative, at 0.1% each. VIEW RETAIL LISTINGS >

Source: Data provided by Reis, Inc. based on Market Summaries for the 85 Primary and Secondary Markets they cover.

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