Central Arizona's Commercial Real Estate News

The construction value of new office buildings, retail stores and industrial properties added each year to Maricopa County is about $1.3 billion, and the total economic activity sparked by that work each year is $2.4 billion.

The information was compiled by local economist Elliott Pollack.

The region's commercial real estate construction industry also employs about 25,000 workers annually.

As of the third quarter of 2005, the metro Phoenix market had about 113 million square feet of office space, 119 million square feet of retail space and 250 million square feet of industrial space. Annually, from 1995 to 2005, an average of 3.7 million square feet of office space, 4.5 million square feet of retail space and 7.4 million square feet of industrial space were added to the market. More...