Over the past year, we’ve heard a lot of positive and optimistic news about Phoenix real estate, but what about the commercial market? According to AZCentral.com, the commercial market is seeing similar trends and is extremely optimistic about growth over throughout 2013. Although the area saw some flatness in the commercial sector – as did many other US cities – experts are seeing positive movement taking place and are excited about current activity levels. Over the past 18 months, tenants occupying Phoenix commercial real estate have steadily increased.
Phoenix is often a popular place for companies in the warehouse market, and this niche is also seeing excellent growth. The industrial space typically sits right around 10% occupancy rate in a good market and is currently at 15%, which is excellent news for the overall health of the Phoenix real estate as a whole. The Phoenix retail commercial real estate sector is also experiencing growth. According to the source, the area should also start experiencing considerable growth in this area in 2013.
Obviously growth in the Phoenix commercial real estate market is wonderful news for Phoenix as a whole, as the overall climate of the area definitely is affected by the commercial sector. Couple the growth in the commercial sector with the optimism taking place in the Phoenix residential home market, and it looks as though 2013 will be a good year for the area.
If you are interested in learning more about homes in Phoenix, please feel free to contact me. It would be my pleasure to share with you all of the wonderful Phoenix real estate opportunities that are currently available.
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