RETAIL MARKET OVERVIEW Presented by: Judi Butterworth Senior Vice President
Top Retail Market Statistics TABLE OF CONTENTS Top Retail Market Statistics Maricopa County Growth per Census
PHOENIX METRO AREA – RETAIL Q1 2016 • Vacancy Rate Down to 9.5% East Valley most improved to 10.3% • Northwest Phoenix Down to 5.7% Vacancy Attributed to activity in Deer Valley area • In the Past 12 Months, Retail Asking Rents Have Increased by 3.2%, Ending the 1st Quarter at $13.73 PSF Downtown rents rose 14.5% to $15.21 PSF • Shopping Center Sales Slowed Modestly and Prices Remain Steady • Employment and Retail Sales Finally Returned to their Pre-recession Peaks in 2015 • Even with Positive Economic Growth, Vacancies Continue to Rise Due to Big-box Vacancies Source: Colliers International
CURRENT MARKET • Areas of Higher Activity and Interest Tempe, Central Phoenix, Santan Mall, Downtown Phoenix, Scottsdale (North/Downtown/South), Queen Creek, Chandler • Areas of Stability Arrowhead, Northeast Phoenix, North Phoenix, Southwest Phoenix/Avondale/Goodyear, East Mesa, Peoria/Surprise • Areas Transitioning Fiesta Mall, Downtown Mesa, Metrocenter, Buckeye, Northwest Phoenix, Glendale
TRENDS FUTURE TRENDS
WRAP UP SUMMARY
THAT’S A WRAP THANK YOU!