Phoenix, AZ - December 5, 2011 - (RealEstateRama) -- Trisha A. Talbot, CCIM, and Kathleen M. Morgan, CCIM, of GPE Commercial Advisors have been retained as the exclusive leasing agents for Paradiso Medical Plaza, a two-story, state-of-the-art medical office building at 11000 North Scottsdale Road in Scottsdale, Arizona.
Sporadic White-Collar Hiring Dampens Office Fundamentals, but Existing Tenant Base Steadying, Giving Back Less...
Phoenix, AZ - November 16, 2011 - (RealEstateRama) -- Although Phoenix office market fundamentals remain soft, improvements in other industries and property types will continue to seep into white-collar sectors and stimulate leasing. So far this year, metrowide employment levels have risen by 26,700 jobs through the end of the third quarter. Hiring within the blue-collar and education and health services sectors accounted for 14,700 positions. Layoffs in the professional and business services industries, however, drove overall office-using losses of 4,300 positions during that stretch. Despite the net loss of jobs, white-collar employers added workers during the second quarter and Phoenix’s business-friendly climate will further encourage relocations similar to Wal-Mart’s regional consolidation and AT Security Service’s complete move from California.
Phoenix, AZ - September 20, 2011 - (RealEstateRama) -- Lee & Associates Arizona is pleased to announce that Arizona Community Foundation (ACF) executed a 10-year, 17,219-square foot lease renewal of their Class A space at Anchor Centre West located at 2201 East Camelback Road. Lee & Associates Principals Craig Coppola, Andrew Cheney and Chris Krewson represented the non-profit tenant. Mike Beall of Cushman & Wakefield represented the landlord, DW Capital Partners.
Improvements in blue-collar industries account for a significant share of Phoenix economic growth in 2011, despite choppy early year hiring. Total metro employment grew by 0.9%, or 14,900 positions. Manual-trade payrolls, in contrast, expanded by a healthy-1.1% year to date with the addition of 3,800 workers. The Valley’s manufacturing sector notched the most hires, adding 2,500 employees and offsetting the combined loss of 700 construction and transportation and utilities personnel through the second quarter. Moreover, major expansions by companies such as Federal Express, First Solar and Easy Energy Systems Inc. will boost the economy and leasing in the near term. Through the extended outlook, sales tax legislation may push more companies like Amazon to relocate from California to Arizona, further supporting industrial space demand. Although international and domestic concerns could dampen growth in the second half, the economic recovery is expected to gain momentum. Metr owide staffing levels will increase by a projected 39,000 positions, or 2.3%, in 2011, while blue-collar industries will add 12,500 workers, a 3.7% increase. National payrolls will rise by 1.65 million positions, or 1.3%
Phoenix, AX - July 29, 2011 - (RealEstateRama) -- Although office net absorption in Phoenix remains negative year to date, the local economic recovery gained traction in the second quarter. Businesses added 14,900 positions locally, a 0.9% staffing boost, in the past six months, compared to a nationwide increase of 757,000 jobs, or 0.6%. Improvements have been greatest in the Valley’s healthcare and leisure and hospitality sectors, with white-collar industries dampening overall growth through the first quarter of 2011. Nevertheless, Phoenix white-collar employers rebounded in the most recent quarter. Local office-using employment sectors augmented payrolls by an estimated 2,800 workers, a 0.7% quarterly gain, mirroring the healthy white-collar improvements that have been recorded nationally. Recent hiring announcements from companies including Safelite, Humana, Yelp and Easy Energy Systems Inc. support projections for a sturdy, albeit late, white-collar recovery through year end, helping to stabilize space demand. U.S. emp loyment will increase by a projected 1.65 million jobs in 2011, including to 39,000 positions in Phoenix, a 2.3% marketwide gain. Local white-collar sectors are anticipated to hire 5,600 workers, growth of 1.3%.
Phoenix, AZ - May 18, 2011 - (RealEstateRama) -- In step with national economic growth, the outlook for the Phoenix industrial market continues to improve. Nationwide blue-collar sectors expanded by 1% over the past two quarters, the greatest six-month gain since mid-2006. Moreover, both manufacturing production and new factory orders increased for more than 21 consecutive months through March.