Phoenix Industrial Activity Triggers New CRE Company

The tremendous growth of the industrial market in Phoenix has catalyzed the emergence of a new commercial real estate brokerage firm. Todd Hamilton, a veteran broker in Phoenix, has launched Citywide Commercial, a new boutique brokerage firm that will focus on the industrial market in metro Phoenix.

“The strong performance of the Phoenix industrial market in 2018 created a lot of success opportunities and helped me and my team develop very strong relationships with owners,” Hamilton, who will serve as managing principal at Citywide Commercial. “After evaluating the market, we decided that now was the best time to build on that foundation with our own company, which we have set up to deliver superior customer service and to take full advantage of technology. When used correctly, the advances of technology alone allow a small brokerage to do the job that it took 20 brokers to complete 10 years ago.”

While some real estate professionals are predicting the end of the cycle—a favored pastime in the industry this cycle—Phoenix has trended significantly behind other markets and likely has a long runway ahead. That has made now, as activity is just starting to pick up, a great time to launch a firm in the market. “We are seeing signs that some tier one markets like Los Angeles, New York and Chicago may be approaching a cycle shift, but we’re not seeing those indicators in Phoenix. We entered the recovery later than other cities and as a result we’re seeing Phoenix as a little behind cycle,” says Hamilton. “So unlike primary markets, where investors and tenants are having a hard time finding affordable options, Phoenix is a secondary market with affordable options and still room to run. As a result, people are flocking here.”