Valley CRE industry expects to maintain momentum in 2019

The hot submarkets heading into 2019 are north Tempe along Tempe Town Lake and the Price Corridor in Chandler. Showpiece office products in those submarkets like The Watermark. / AZBigMedia

 

AZBigMedia

If you liked commercial real estate in 2018, you’re going to enjoy 2019 just as much.

Often, sequels don’t live up to the high expectations set by their predecessors, but when it comes to the general health of the commercial real estate market in the Greater Phoenix area, another year like 2018 is very welcome.

All of the major economic signs point to another positive year for the market, with strong population growth, solid job numbers and a very business-friendly environment. There are very few factors that seem to be working against continued growth in the overall economy and in commercial real estate, specifically. One factor is the shrinking availability of land to develop in the central cores of the Valley cities. Another and more pressing issue is the cost of doing business for a developer.

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