CBRE asked investors about which are the best office markets. Phoenix ranks as the 11th most-desirable commercial real estate market, according to a new survey of investors by CBRE Group Inc. (NYSE: CBG). Phoenix moved up from No.14 in last year’s CBRE investor survey to No. 11 — tied with San Diego, Minneapolis/St. Paul and Philadelphia. CBRE surveyed 300 real estate investors about their feelings of the overall market and what cities are most desired. Real estate investors rank Los Angeles as the most-attractive CRE market in not only the U.S. but the entire Western Hemisphere.
“Occupancy is hovering around 95 percent, and that’s a healthy rate, especially with lots of product moving through initial lease-up,” says Greg Willett, chief economist with RealPage Inc.
Developers opened a tremendous number of new apartment units in 2017. But the percentage of apartments that are occupied has barely shifted, despite competition for potential residents. Rents continue to grow in most markets. “Occupancy is hovering around 95 percent, and that’s a healthy rate, especially with lots of product moving through initial lease-up,” says Greg Willett, chief economist with RealPage Inc., a provider of property management and software services.
Scottsdale-based Camelot Homes is investing $240 million in four projects throughout metro Phoenix.
The third-generation homebuilder opened White Horse, a luxury community in North Scottsdale with more than 500 homeowners and prospects. About half of the community’s inventory of 50 half-acre lots already have been sold. Located off Pima Road and Los Gatos Dive, the gated community has homes ranging from 4,000 to 6,000 square feet and are priced in the high $1 millions.
“As a Scottsdale-based builder, Camelot Homes finds highly sought-after parcels of land near ideal locations to create carefully selected and highly desirable properties,” said Cammie Hancock Beckert, managing director of Camelot Homes.
16,731 Units Under Construction
In addition to the 16,731 units currently under construction, there are 11,100 planned and 12,727 units noted as Prospective. That's a total of 40,560 units.
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Map of Apartments Available
We keep track of all apartments advertised. The interactive map shows the location and quantity of units advertised in Phoenix Metro area.
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