Commercial Market Stays Strong In East Valley

The East Valley Tribune reports that demand for East Valley commercial buildings is red hot, according to statistics released by CB Richard Ellis. The vacancy rate for the 61 million square feet of office space around the Valley fell to 14.5%. In the SE Valley, the vacancy rate is 14.2%, and in Scottsdale, it is only 12.6%. "That makes it a landlord's market", said Pete Bolton of CB Richard Ellis. "Leasing activity will be extremely healthy as more companies look at the Valley's strong economy as a place to either open new locations or expand existing operations", the report said. "What's driving that is two things-- transportation corridors and rooftops," said Bolton. "There is growth in population and jobs." More...