By Roland Murphy for AZBEX
A recent report from CBRE puts Phoenix at Number Seven among major U.S. metros for overall Year-over-Year investment growth across property types.
Phoenix-area investment for all types totaled $29B for 2021, a Year-over-Year increase of 136.5%. Las Vegas led the nation YoY at 231.8%. Los Angeles led in total volume, coming in at $58B.
Sectors where Phoenix held a Top 10 position were:
- Industrial: #4, $6.2B, 126.6% growth; and
- Retail: #2, $2.46B, 217.8% growth.
Phoenix did not make the Top 10 in Office, Hotel or Multifamily.
Nationwide, total investment volume set a record for the year at $746B, $296B of which came in Q4. Multifamily was the leading sector for investment volume with $136B in Q4 and $315B for the year. Private buyers made up the majority of Q4 activity with $143B of the $296B total. Real Estate Investment Trusts/public companies won out in terms of the highest YoY growth rate, increasing 153% for a total of $335B.