Real estate expert: Regions like Phoenix should stop promoting themselves as low-cost to attract business

Marina Heights has boosted the interest in Tempe as an office market.

By Mike Sunnucks | Phoenix Business Journal

Spencer Levy — head of research for commercial real estate firm CBRE Inc. (NYSE: CBG) — has advice for cities and states trying to recruit jobs and businesses.

“Please, please don’t lead with costs,” said Levy, who was in Phoenix last week talking to brokers and clients at CBRE’s modern new offices at the Esplanade development.

Low costs have long been a calling card for Phoenix as it competes with the more expensive markets such as California and the Pacific Northwest for jobs and business investment.

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