Communiqués de presse d'Avison Young Canada sur l'immobilier commercial
Des informations trimestrielles et thématiques sur la recherche pour aider votre entreprise à acquérir un avantage concurrentiel dans l'immobilier commercial.
Avison Young releases its Second Quarter 2024 Retail Market Report for Phoenix
![Avison Young releases its Second Quarter 2024 Retail Market Report for Phoenix](https://www-cdn01.avisonyoung.com/cdn-cgi/image/q=50/documents/214447/199282128/Screenshot 2024-07-23 at 3.57.23 PM.png/ad330e84-8e9e-1082-afe6-51b2af07f21e?t=1721775457472)
“Metro Phoenix retail stays hot as the Valley continues its rapid growth. This market trend is poised to continue as new retail development and construction fail to meet strong tenant demand,” said James DeCremer, a Principal with Avison Young in Phoenix.
Phoenix's growing popularity has driven retail space demand beyond supply. Since 2019, the market has consistently had one to two msf remaining in the construction pipeline each quarter. In Q2 2024, 1.9 msf are in progress, with nearly 700,000 sf delivered. Despite steady growth and many specific projects underway, there is still a lack of supply for single-tenant spaces, strip centers, and smaller retail spaces. Asking rents for Phoenix retail property continue to rise in this tight market. Additionally, rental growth over the past decade has been consistent. Since Q2 2020, rents have increased by 23%, reaching an average of $24.97 per sf for all retail space types at the end of Q2 2024.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide
clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2024 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 13 consecutive years.
www.avisonyoung.com