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Arizona’s First Quarter 2018 Economic Outlook

Arizona’s First Quarter 2018 Economic Outlook (George Hammond Ph.D., Eller Business College)
The Arizona economy slowed down some at the end of 2017 with job growth just below the national rate. Even with slowing, the state does continue to expand, …

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Tucson Economy Expands in 2018 and Vacancy Rates Decline

Tucson Economy Expands in 2018 and Vacancy Rates Decline
The Industrial building market is becoming tighter with fewer options available to new companies entering the Tucson/Pima County market. Overall absorption according to the latest PICOR statistics was positive 57,243 SF. …

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2017 Promises To Be A Good Year

The Tucson metro economic outlook is good for 2017!  Area job growth is expected to be in the 2% range.  The Tucson metro area posted a 1.4% increase in 2016.  According to George Hammond, Director of the UA Economic and …

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Tucson Economy Improves But Slowly – March 23, 2016

George Hammond is director and research professor in the Economic and Business Research Center at the Eller College of Management, University of Arizona. In a recent article for the Arizona Daily Star on March 22, 2016, he wrote that the …

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MID YEAR COMMERCIAL REAL ESTATE MARKET REVIEW

MID YEAR COMMERCIAL REAL ESTATE MARKET REVIEW
BY Dave Gallaher, CCIM, Designated Broker and Owner of Tucson Industrial Realty LLC
Here is a quick snapshot of 2015’s commercial real estate market.  At the July meeting of the Southern Arizona CCIM …

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University of Arizona Eller College of Management’s Economic and Business Research Center Mid Year Report, June 2015

Arizona and Tucson will continue to see economic growth over the next decade that is buoyed by the ongoing US recovery and increased exports to Mexico.   According to the latest statistics, an expanding income gap tied to decreasing educational attainment …

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Lease Option or Sale?

Lease Option or Sale?

[Article published by CCIM Institute, full article can be read here]

What is the economic reality of your transaction?
by Donald J. Valachi, CCIM, CPA

Editor’s note: This …

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2014 Year End Recap and 2015 Industrial Market Forecast

TUCSON INDUSTRIAL REALTY LLC
DAVE GALLAHER, CCIM, DESIGNATED BROKER
INDUSTRIAL REAL ESTATE FORECAST
EOY 2014 AND 2015 PREDICTION
 We recently had the privilege to present to the annual BOMA and IREM Real Estate Forecast January 27, 2014 at Skyline Country …

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Mayor’s State of the City Address Emphasizes Economic Development Priorities

Mayor Rothschild’s State of the City address in late February emphasized his economic development priorities outlined in his 2-year plan, the “5 T’s”: technology, trade, transportation, tourism, and teaching. Key points of his address included the importance of collaboration …

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Eller College Economic Outlook Projects Positive Developments for Local Economy in 2014

The University of Arizona’s Eller College released their annual Economic Outlook for 2014 and predict gradual increases in most measures of economic growth for the local economy.  Tucson’s job growth rate, at 1.5%, reflects national growth trends and jobs lost …

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Mayor’s 2-Year Plan Includes Efforts to Build Local Economy

Mayor Jonathan Rothschild released his 2 year plan, which includes his main economic development priorities for the city.  His plan includes input and feedback from community stakeholders collected during his first two years in office.  An overarching theme is to …

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Tucson Industrial Market Update Q3 2013

Industrial vacancy in the Tucson market declined to 10.8% in the third quarter of 2013 with a net absorption of 219,802 SF, according to CoStar Group.  At the same time, the average rental rate in the market increased for …

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Arizona projected to see accelerated growth in 2014 and 2015

A forecast by the University of Arizona’s Eller College of Management projects modest growth for Arizona in 2013, followed by accelerated growth in 2014 and 2015.  Job gains and income growth are expected for the state, as well …

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Dave Gallaher to Serve as President of Rotary Club of Tucson

On July 1, 2013, Dave Gallaher, Managing Member and Designated Broker for Tucson Industrial Realty LLC assumed the role of the 93rd President of the Rotary Club of Tucson (RCOT).  RCOT is the 2nd largest Rotary club in Arizona and …

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Tucson Q1 2013 Industrial Construction and Inventory Update

According to a report by Costar, no new industrial space was completed in Q1 2013, though one project, a 15,000 SF building located at 4475 S Coach Dr, is currently under construction and 100% leased. 2012 saw 127,501 SF of industrial …

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City of Tucson utilizing economic development incentive toolbox to spur downtown development

The City of Tucson recently approved an incentive package utilizing the Government Property Lease Excise Tax (GPLET) program for a new downtown student housing development.  This is one among a number of programs the city has been using to more …

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Port of Tucson Expansion Complete

The Port of Tucson, a multi-modal shipping facility and Foreign Trade Zone on Tucson’s southeast side, has recently completed an expansion of infrastructure, including rail lines, that will allow it to begin to receive and distribute international container traffic received …

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TREO launches new economic development strategy focused on strengths of diagnostics in southern Arizona

Tucson Regional Economic Opportunities (TREO) has launched a new regional economic development strategy focused on developing Southern Arizona’s capacity around medical diagnostics, building on existing strengths including private sector employers and university resources, to attract and retain bioscience companies.
The …

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Business Outlook for Commercial Real Estate 2013

Read Dave Gallaher’s Business Outlook for Commercial Real Estate in Tucson for 2013 – click HERE for Dave’s report.  To read Bob Bach’s forecast presentation, please see Newmark Grubb Knight Frank Outlook for Commercial RE.

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Tucson’s economic recovery accelerates in 2012, to continue in 2013

According to forecasts by Marshall Vest, director of the Economic and Business Research Center for the University of Arizona’s Eller College of Management, Tucson’s economic recovery, through slow, saw modest acceleration towards the close of 2012 and should continue in …

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