X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Predicting the exact trajectory of the cycle is one of the great pastimes of the commercial real estate industry, and while it is important to track the national economic cycle and patterns, each market is also running on its own cycle. Phoenix was impacted substantially by the recession—one of the most troubled markets in the country—but it is now in full recovery. As a result, while other markets are coming to the peak of the cycle, Phoenix still has a lone runway ahead.

“The Arizona market has more runway than any other West Coast market, other than Sacramento and Oakland. We took it on the chin during the recession, perhaps as badly as any market did, and our recovery has been exceptional since then,” Dennis Desmond, senior managing director at JLL, tells GlobeSt.com. “Today, our economy is much broader based today than it was prior to the recession; our housing industry is more sustainable today than it was prior to the recession; our new construction of office product is more sustainable today that it was prior to the recession.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.