By Taylor Tasler | KTAR
PHOENIX- The COVID-19 pandemic sent a majority of the workforce home and out of the office, but that doesn’t mean commercial real estate in Arizona took a hit.
“The perceptions of a negative market are pretty over-exaggerated at this point,” Jon Rosenberg, co-founder of LevRose Commercial Real Estate, told KTAR News 92.3 FM.
He adds that despite more people working from home, the commercial market is currently seeing pre-pandemic levels of activity.
“The office market, the first half started out slow, picked up substantially,” Rosenberg said. “There’s been over 2 million square feet of new leases signed in just the second quarter of 2021.”
That’s up 65% from the same quarter in 2020, which Rosenberg attributes to California firms coming to the state
“We’re seeing a lot of the California firms come here,” he said. “The rents are much lower, much more affordable.
