Phoenix 3rd Most Favorable Development Market

Posted on January 22, 2021 by Monica Tapia in Trends // 0 Comments

Credit: AZRE

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 sector rankings of second for office and multifamily development opportunities, third for industrial and fifteenth for retail.

The report, which analyzed the top 50 U.S. markets by population, scored markets based on four performance categories: construction costs, fundamental strength of existing supply, prior cycle performance and property forecast.

The full report is available here.