Friday, February 10 2006 @ 03:22 pm UTC
Contributed by: jron
There have been reports that despite the rising of land and construction costs, the Valley's commercial real estate is expected to rise.
In 2005, lower vacancy rents and high priced rents were accounted, and reports said that it will continue this year, that was predicted by a real estate services firm, CB Richard Ellis, on Thursday, they've released their forecast to clients.
Industrial, office, retail, and multi-family is covered by the forecast.
Greg Coxon, a senior managing director at CB Richrd Ellis said "There is so much money out there today that I don't see a significant change in the real estate investment vehicle,"
The nation's economic health and strong implications for Phoenix economy considered commercial real estate as its indicator, and that includes the housing industry that is fast rising.
Predictions shows that Valley real estate is one of the hottest in the said regions in the nation for commercial real estate. Although they are some cooling in some predicted areas, still the population and job growth will boost.