ASU: Phoenix CRE Slow, Outlook Optimistic

A recent survey of Phoenix-area commercial real estate brokers showed mixed results. On the one hand, those participating said the area’s commercial real estate market is on solid ground, and there is optimism about the future. However, according to the survey, which was conducted by Arizona State University’s (ASU) W.P. Carey School of Real Estate, the near-term activity could be slow.

Questions revealed uncertainty and caution, though many of the 116 respondents overall felt the market was moving in the right direction. Mark Stapp with the W.P. Carey Master of Real Estate Development program feels that the results show some concern over the next six months, though Phoenix might be leaving its boom-and-bust days behind.

For comments, questions or concerns, please contact Amy Sorter