By Wayne Schotsky, AFN Staff Writer
While conventional wisdom says consumers are abandoning brick and mortar stores in droves in favor of online retailers like Amazon, the retail sectors covering Ahwatukee and the East Valley are showing promising signs of growth.
The Ahwatukee/Tempe submarket has a retail vacancy rate of 6.88 percent, which is below the metro Phoenix average of 8.8 percent.
That low number is driven in part by Tempe, which is arguably the hottest commercial real estate submarket across all sectors in Arizona, said CBRE Retail Services First Vice President Todd Folger.
