Tucson Commercial Real Estate Market Report
Tucson Realty & Trust Co. presented their 2015 year end commercial real estate market report and forecast for 2016. Experts presented Tucson Commercial Real Estate Market reports focusing on various sectors including Retail, Office, Land, Industrial and Investment. The panel of commercial real estate professionals included Hank Amos, President and CEO of Tucson Realty & Trust Co., presenting the commercial real estate land report. Terry Lavery, CCIM, CPM, GRI, presented the commercial real estate investment market report. Pat Darcy, Retail Division Head at Tucson Realty & Trust Co. reported on the retail market. Chuck Blacher gave the Industrial Market Report. Mike Gross presented the Office Market Report.
The overall outlook for commercial real estate markets in Tucson were cautiously optimistic. While 2015 saw modest gains in commercial real estate, volatility in global investment markets since the New Year have cast a pall of uncertainty on continuing growth.
“Industrial hit 10-year lows in vacancy, retail continues to get better, office has improved as well in its vacancy rate, and we’re starting to see market rents go up a little bit,” said President and CEO Hank Amos.
The event was held at the Tucson Country Club in Tucson, Arizona.