South East Valley's White Hot Commercial Market

The office market (commercial real estate) is hot in most pockets of the South East Valley.

Jeff Hartland, senior vice president at Grubb & Ellis/BRE Commercial, said the market is the tightest he's seen in 15 years. "There was a lot of demand all of a sudden, an boom, all the space is gone," he said.

A year ago, Chandler and Gilbert had 28.2 percent vacancy. A year later it was 4.6 percent!

Developers seeing this trend have started several new office projects in the South East Valley to keep up with the demand, such as new office projects at Tempe Town Lake, the Stapley Corporate Center at Stapley Drive and Baseline, and a 16-acre project at Ray Road and the loop 101 that will contain office condos, retail, a four-story parking garage and a five-story Class A office building. More...

Another article showing that commercial development follows the rooftops!