1201 E. Valencia Road, Tucson
18,000 SF single tenant industrial building
View Sale Listing | View Lease Listing | View & Print Brochure
Monday, January 30, 2012
NEW LISTING
301-311 E. Fort Lowell Road, Tucson
1,000 SF to 4,200 SF
Office, retail or industrial use.
Suites in shell condition
View Listing | View & Print Brochure
301-311 E. Fort Lowell Road, Tucson
1,000 SF to 4,200 SF
Office, retail or industrial use.
Suites in shell condition
View Listing | View & Print Brochure
Tuesday, January 17, 2012
Weekly Market Insight Update
Retail sales were less robust in December than suggested by the momentum earlier in the holiday shopping season. Total retail sales, seasonally adjusted, rose 0.1 percent from November, and core sales, which exclude vehicles and gasoline, were flat. Sales of building materials led the way, increasing by 1.6 percent, while sales of electronics and appliances tumbled 3.9 percent, influenced by diminishing sales of the iPhone. Looking at November and December data combined, core sales rose 5.6 percent from a year ago, down slightly from the 5.8 percent increase registered in last year’s holiday shopping season. In a separate survey, chain store sales increased 3.3 percent in November and December compared with the same period in 2010, down slightly from last year’s gain of 3.8 percent. These increases, respectable but modest, are a reminder of the headwinds that continue to weigh down consumer spending, which include weak income growth, high unemployment, the ongoing decline in home prices, and continued deleveraging. But they also portray a consumer that will respond to promotional pricing to satisfy pent-up demand. With consumer spending accounting for 70 percent of gross domestic product, the economy is expected to log another year of modest growth with a near-term recession unlikely. The numbers also signal continued, slow improvement in shopping center leasing market fundamentals.
Robert Bach
Senior Vice President, Chief Economist
Grubb & Ellis
Wednesday, January 11, 2012
Wednesday, January 4, 2012
Thursday, December 22, 2011
Weekly Market Insight Update
Labor Market Recovery Rates
Top 10 Large Metros
Grubb & Ellis examined metropolitan areas with populations of 1 million or more to determine their labor market recovery rates – the percentage of jobs lost to the recession in each market that has been recovered through Nov. 2011. Six of the top 10 markets are in three adjacent states – the four big Texas metros (#2 Houston, #5 Austin, #6 San Antonio and #10 Dallas-Fort Worth) plus #3 New Orleans and #4 Oklahoma City. Energy is a big driver in this region as well as technology in Austin and ongoing reconstruction projects in New Orleans. The other four top markets are in the Northeast: #1 Pittsburgh and, in the 7th through 9th positions, Boston, Rochester, N.Y. and Washington, D.C. Education and healthcare are big drivers of growth in these metros plus energy in Pittsburgh and the public sector and related non-profits and consultants in Washington, D.C. At the other extreme, Birmingham, Ala. has not recovered any jobs while the recovery rates in Cleveland and Atlanta are just 2 and 4 percent, respectively. The recovery rate in the U.S. overall is 28 percent. Look for continued, modest expansion in the labor market next year at roughly the same pace as 2011 – 125,000 net new payroll jobs per month. Metros with above average shares of energy, commodity, health care, education and technology businesses should grow more rapidly than average.
Top 10 Large Metros
Robert Bach
Senior Vice President, Chief Economist
Grubb & Ellis
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