Why Arizona is a good investment market?
Arizona’s Commercial Real Estate market had been stalled out for the pass couple years to say the least. However, recent market indicators are showing that a recovery maybe in sight. Certain commercial sectors such as office and industrial are showing some signs of improvement in some sectors. Tenant representation has been going strong as lease rates are at record lows. There are still a number of challenges ahead, however, and more and more opportunities are presenting themselves in spite of the dormant economy.
In fact, for those owners wishing to purchase properties for their businesses, there has never been a better time to invest. Banks, with the aid of the SBA, are ready and willing to loan. We are seeing continued investment in the medical sector as well. New medical facilities frequently mean increased opportunities for development and small business growth in the surrounding areas.
There are indications that the west valley of Phoenix is poised for growth particularly along the new 303 corridor. This is also good news for job creation in Phoenix. Over the next few years the commercial real estate market will not only recover, but begin to thrive once more and those smart enough to get in and take advantage now will be rewarded.