NEW KID IN TOWN (EAGLES)
Watch out Phoenix Commercial real estate. A new guy is in town.
His name is Jones Lange LaSalle out of Chicago. And apparently, he has deep pockets. They say he is one ornery hombre, and a force to be dealt with.
The company has been a full-service firm around many parts of the world for some years, and now has sights and an address in the Phoenix market. Seems as though the increase of very large institutions that own massive amounts of commercial real estate makes it important to offer full services that clients demand.
The commercial brokerage business at least in Phoenix has been rough for the past 3 years, when phones stopped ringing. Now that reality has hit the area rather hard, a change and shake up may be brewing.
The only way to get out of this mess gracefully is the GET MORE JOBS to the area. Get the hiring moving again.
So, we shall see what will happen over the next few years. For sure there will not be any speculative buildings going up in hopes of new tenants moving in.
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Bryan Watkins sells commercial and residential real estate in the Phoenix Metro area. Want to have personal comp and market analysis using CoStar Comps? Call or text Bryan today for your FREE, no obligation analysis of the value of your property.
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