The Phoenix Office market – Prices Up Vacancy Rate Down

Commercial Real Estate prices up 5.1% Year-over-year in February and The Phoenix offices in gilbert az for leaseOffice market ended the first quarter 2013 with a vacancy rate of 19.4% according to CoStar.

Also according to CoStar, the Phoenix area office vacancy rate was down over the previous quarter, with net absorption totaling positive 152,689 square feet in the first quarter.

Rental rates ended the first quarter at $19.44, a decrease over the previous quarter.

Additionally there was 256,270 square feet still under construction at the end of the quarter.

The real estate market is heading up – The percentage of commercial property selling at distressed prices dropped in February 2013 from the previous month.

The longer you wait to get in the game, the harder it is going to be to make money.

Building costs are increasing. Buying a property below replacement cost gives you a leg up, but will become increasingly more difficult as prices continue to rise .

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This information is for informational purpose and not intended to be investment advice, and should be explained to you in detail. You should always feel free to consult an attorney and/or tax adviser to obtain furtherinformation you deem necessary. I want you to be prepared

 

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