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The significant decline of transactions in primary markets has sustained strong liquidity in secondary and even tertiary markets. As a result, secondary markets comprised 44.6 percent of total multifamily transaction volumes at midyear, a record for this indicator if analyzing the past nearly two decades. Phoenix and Denver led secondary market activity during the second
The post Phoenix multifamily led secondary market activity in Q2 2017 appeared first on JLL Phoenix blog | Commercial Real Estate.
There have been no signs of a slowdown as the market continues to record strong absorption gains, consistent rent growth and healthy development activity. This year is on pace to record over 8.8 million square feet of positive absorption, marking the eighth consecutive year of positive absorption gains. During the previous cycle, absorption peaked at
The post Phoenix industrial vacancy approaches pre-recessionary low appeared first on JLL Phoenix blog | Commercial Real Estate.
Construction activity is robust in the Phoenix market, and is expected to continue through at least the first half of 2018 based on current forecasts. Office, industrial and multifamily development is at an all-time high, and there are many new ground-up, build-to-suit projects underway throughout the Valley. The Southeast Valley and Scottsdale have seen significant
The post Labor shortage increases costs of Phoenix contractors, engineers and architects appeared first on JLL Phoenix blog | Commercial Real Estate.