Phoenix

Industrial sales in the market hit $1.8 billion in 2017 for industrial product over 10,000 square feet.

P. B. Bell says that local third-party property management companies are more in-tune with local economic growth, nuances and opportunities.

Resort-style amenities were once a standard for condo projects. Today, buyers are looking for more service-style amenities.

The vacancy rate in the Tempe-adjacent Phoenix submarket is down 9.3% as new companies plant roots in the market.

In 2018, the Phoenix job market grew by 3.9%, the fastest rate of growth in the last decade, adding nearly 80,000 jobs.

Clarke assumes responsibilities for the commercial services business in offices in California, Arizona, Colorado and Washington after a successful three decades of service at Transwestern.

The deal marks the 14th hotel property sold by the McLean, VA-based REIT in the past year as part of its ongoing program of recycling non-core assets.

Las Vegas and the Inland Empire will continue to see ample capital chasing deals in 2019, while Phoenix could start to cool off.