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Tuesday, September 7, 2010 |
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| Tucson brokers forecast slowing commercial real estate market |
By Christie Smythe |
ARIZONA DAILY STAR |
March 21, 2008
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Commercial real estate brokers said at a forecast today that they expect the slowing economy to take a bite out of the local market today.
Retail broker Greg Furrier, of Picor Commercial Real Estate Services, said he expects to see retailers "proceeding with caution on expansion." Smaller retailers will probably also ask for rental concessions, he said.
He was speaking at the 2008 Pima County Commercial Real Estate Market Forecast held by the Southern Arizona CCIM chapter at Loews Ventana Canyon Resort this morning.
Other brokers said Tucson may see slight vacancy increases in the office and industrial markets as well as in apartment buildings.
"People are kind of playing a wait and see game with the economy," said Mark Biery, an office specialist for Chapman Lindsey Real Estate.
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