Trends

By Colliers International  The retail real estate market was arguably hit hard by the COVID-19 pandemic, but Metro Phoenix endured the challenges more successfully than most markets. The metropolitan area posted positive net absorption in 2020 and rental …

By CBRE  Phoenix offers one of the most favorable development markets for commercial construction in the U.S. according to CBRE’s U.S. Development Opportunity Index. The Valley of the Sun secured the third overall spot on the inaugural list with …

By Tasha Anderson for AZBEX  Despite the collective gut-punch that COVID-19 brought in 2020, Arizona’s state economy and construction industry has done really well, and BEX predicts 2021 will be another big year for construction.  Such was the overall takeaway from the BEX …

CBRE has released its reports on the Industrial and Office markets’ Phoenix-area activity in the Fourth Quarter.  Industrial saw a decrease in quarter-over-quarter vacancies from 6.1 percent to 6.0 percent. During Q4 there were 5.09MSF of net absorption and 8.04MSF of gross …

By Associated Builders and Contractors Associated Builders and Contractors has reported its Construction Backlog Indicator rebounded modestly to 7.3 months in December, an increase of 0.1 months from November’s reading, according to an ABC member …

By Colliers International Impact of the COVID-19 pandemic has clearly arrived in Phoenix office market statistics for fourth quarter 2020. The city had its first quarter of negative net absorption in more than eight years. …

The recently released “Fourth Quarter 2020 North America Quarterly Construction Cost Report” from Rider Levett Bucknall showed increases in 11 of the 12 U.S. markets. From October, 2019 to October, 2020 Los Angeles saw the greatest annual …

By Associated Builders and Contractors  The construction industry added 51,000 net new jobs in December, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last eight months, the …

By Rebekah Morris for AZBEX  Next week the BEX research team will present detailed market analytics at the fourth annual Construction Forecast Event. The topic will be an exclusive and deep analysis of the next three years of the Arizona construction market. …

A study administered by testing firm Curative showed construction workers have the highest COVID-19 positivity rates for asymptomatic cases across all occupations. In examining the results of more than 730,000 tests, the study found construction …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate decreased to 7.8 percent in November 2020, from October 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 6.7 percent from 6.9 percent in October. In November 2019, the state had a seasonally adjusted rate of 4.5 percent, and the national was …

By Tasha Anderson for AZBEX  To prepare for the final Leading Market Series of 2020, BEX President and Founder, Rebekah Morris, asked hundreds of owners, from private developers and institutional owners to public owners, asking for their perspective on where they think …

By Rebekah Morris for AZBEX  Next month, the BEX research team will present detailed market analytics at the fourth annual Construction Forecast Event. The topic will be an exclusive and deep analysis of the next three years of the Arizona …

America is dealing with an unprecedented shortage of skilled labor. The Department of Labor reports that while there are 7.6 million unfilled jobs, only 6.5 million people were looking for work. This is the same …

By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 8.0 percent in October 2020, from September 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national …

The construction industry added 84,000 net new jobs in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last six months, the industry has added 789,000 …

National nonresidential construction spending fell 1.6 percent in September, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, monthly spending totaled $794.3B.   Among the 16 nonresidential subcategories, 13 were down on …

While Apartment List’s National Rent Index is down 1.4 percent over the last year, rents in Tucson have increased 4.7 percent since the start of the COVID-19 crisis. Since March, Tucson’s month-over-month rents are up 0.6 percent, and year-over-year increases total 5.9 percent. …

By Sebastian Obando for National Real Estate Investor  Commercial real estate investors are showing increasing interest in biolab facilities as healthcare research and development has accelerated due to the pandemic.  “[There is] an increased demand for laboratory space which, when coupled …

Source: Colliers International  The Greater Phoenix retail market posted positive net absorption in third quarter, despite the continued impact of the COVID-19 pandemic. Vacancy rose slightly during the quarter to 7.7 percent as the city was recognized for comparatively …

By Rebekah Morris for AZBEX  Sales tax data available on AZEconomy.org, published by the University of Arizona Economic and Business Research Center, shows a surprising trend: construction in Arizona has risen despite the broad economic downturn as a result of the COVID-19 health epidemic. At …

Source: Colliers International  The Greater Phoenix industrial market has surged during the COVID-19 pandemic, driven largely by the country’s increased use of e-commerce and elevated grocery shopping while restaurants were closed. Completion of new industrial projects in 2020 has been …

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 6.7 percent in September 2020, from August 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 7.9 percent from 8.4 percent in August. In September 2019, the state had a seasonally adjusted rate of 4.6 percent, and the national was …