Population Growth, Tech Expansion Will Support Phoenix Office Market In Coming Years
July 26, 2017

Population Growth, Tech Expansion
Will Support Phoenix Office Market
In Coming Years

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When does success become too much of a good thing? It can when robust office markets inspire overbuilding. That is not something the Phoenix market is facing, according to Avison Young principal and managing director David Genovese in the company's Phoenix office. Bisnow spoke with him recently about the tempo of the market. 

Bisnow: Is Phoenix office at risk of overbuilding?   Genovese: Based on the data, I don't believe there's a current risk for overbuilding. About 2M SF of new office product will be delivered in 2017, but much of that will…

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Fidelity National (7.26.17) NATL 9342
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Distribution centers are being built all over the country, many as big-box facilities that in some cases require clearance of up to 40 feet. Last-mile distribution centers, designed to be leaner to make use of tighter spaces close to major cities, are beginning to crop up — like a rumored Amazon warehouse close to the University of Pennsylvania's campus in West Philadelphia. Real estate is changing shape to better fit e-commerce, but only the sexy part. Returns are still a worry.

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