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| Mike Kasulaitis |
PHOENIX, AZ (Dec. 30, 2014) – The Arizona Commercial Brokers
Association (ACBA) has released its 2014 transaction recap, reporting more than
380 completed industrial sale/lease transactions totaling over 3 million square
feet in Phoenix in the past 12 months.
Made up of veteran brokers from independent to regional
firms, ACBA provides on-the-ground insight about the group’s major client
demographic: the mid-market industrial user.
“ACBA members represent the biggest driver of Phoenix’s
industrial 2014 real estate year – the mid-market buyer and tenant,” said ACBA
President and Voit Real Estate Services Vice President Mike Kasulaitis.
“This year we observed an uptick in activity across the board. Taking into
account that single-family home sales were negative and foreclosures still
loom, we find this encouraging.”
“Among our most active clients, 2014 sales were dominated by
end users and institutional money. On the leasing side, the smaller, incubator
warehouse tenants occupying 20,000 square feet or less were on a roll,” added
ACBA board member and Cutler Commercial broker Todd Hamilton. “Low
interest rates, below-replacement pricing and strong local growth will make
2015 an exciting time to be an owner and seller, but it might ring in a
‘sticker-shock’ year for the tenant and buyer.”
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| Todd Hamilton |
Based on market data and trends among his clients, Hamilton
expects metro Phoenix’s average 11 percent industrial vacancy rate to fall by
50 or more basis points, to the 10.5 percent range by mid-year 2015.
He also
anticipates 2015 to set the stage for rent growth, which has remained stagnant
for the past five years but that Hamilton believes will increase by 3 to 5
percent in 2015.
For 2014, ACBA members experienced the strongest activity
among small and mid-size users. Their most active submarkets included Deer
Valley, Southwest Phoenix and Central Phoenix.
“Although Arizona has continued to lag most other parts of
the country, I do believe we are on the road to recovery, and that 2015 will be
more active in all aspects of our economy,” said Carl Johnson, ACBA
charter member and Vice President at DAUM Commercial Real Estate.
“It’s a funny market now. Inventory is tight but demand is
lukewarm. However, as populations grow, housing demand returns and 30 to
40-year-olds recover from recessionary setbacks, Maricopa, Pima and Pinal
counties will most certainly pull out of that stagnant holding pattern.”
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| Carl Johnson |
For more than two decades, the Arizona Commercial Brokers
Association has been providing a platform for Phoenix industrial real estate
brokers to share resources, opportunities and best practices that not only grow
their own deal pipeline and expertise, but also advance the success of the
Phoenix market at large.
This member-owned,
member-directed organization is composed of brokers ranging from independent to
regional commercial real estate firms who actively invest in ACBA-member
relationships and focus on a common goal of serving clients to the highest
degree.
For more information, visit www.acba.co.
For a complete
copy of the company’s news release, please contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
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