Located on the northern edge of the Sonoran Desert, Phoenix is an optimal location for distribution to significant markets including California and Mexico. Phoenix boasts the highest concentration of employment in Arizona. The population growth rate of the Phoenix metro area has been nearly 4% per year for the past 40 years and real estate developers face few constraints when planning and developing new projects. And as one of the fastest growing job markets and economies in the United States, Phoenix is emerging in the new economy with strength in high technology, manufacturing, bioscience research and advanced business services.
Phoenix offers a strong, established healthcare and life sciences market, with some of the nation’s major players like Mayo Clinic, Dignity Health, Banner Healthcare and more located here. Growth in Phoenix is faster than the national average due to the business tax credits and other economic development programs that are available. Just in the last 10 years, dozens of research institutions and facilities have opened in Greater Phoenix establishing Phoenix as a hub of Medical Innovation.
The office market in the Phoenix area includes more than 136.5 million square feet. The majority of this is concentrated Downtown, Midtown, Northwest Phoenix, Scottsdale, and along the Camelback Corridor. Among the numerous companies that call the Phoenix area home are: electronics corporation Avnet, mining company Freeport-McMoRan, PetSmart, waste hauler Republic Services, Honeywell's Aerospace division, U-HAUL International, Best Western; and Apollo Group, parent of the University of Phoenix.
Phoenix’s industrial market is comprised of nearly 288 million square feet situated across the metro area. Easy access to Phoenix’s freeway system facilitates transportation of goods. Existing supply is sufficient to handle the future growth of local and national companies engaged in warehousing, construction and transportation for many years to come. Many distribution companies find Phoenix to be ideally located with its proximity to California and other major cities in the Southwest as well as Mexico.
The Phoenix metro area contains numerous malls and shopping centers or malls that each have more than one million square feet of space. Most major national and international brands have developed a presence here. Ongoing development, high-quality product, and availability in the surrounding area help to drive the market forward.
Property Management services provides a full range of services to clients to efficiently and effectively manage property operations. These services include:
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Avison Young opened its office in Phoenix in April of 2016 and is their entry into the Phoenix Real Estate Market. The Phoenix office consists of a team of experienced agents and staff who handle sales and leasing for professional office, medical office, retail, industrial and land properties. In addition Management Services provides licensed professionals, accountants, engineers and staff who keep buildings running smoothly. Collectively, the office manages and represents over 9 million square feet of space in the Phoenix area, with clients ranging from individuals in search of space to publicly traded corporations. With Phoenix, Avison Young now has a local presence in all major American and established a presence in one of the largest and fastest-growing metro markets in the U.S.