14 Jan Phoenix, Arizona Hot Destination for U.S. and Foreign Investors
Phoenix, Arizona Hot Destination for U.S. and Foreign Investors
Phoenix, Arizona had $2.6 billion dollars’ worth of office assets exchange hands in 2018, and experts are saying there is still plenty of room for prices to grow. When compared to 2006, the office investment sector was on par for 2018, but prices per square foot are still well-below the peak market during 2008.
Phoenix has caught the attention of U.S. and foreign investors, which has not had a presence before. There is a new diversity in capital which is attracting more investors to the Valley of the Sun. Some of this new activity is due to higher commercial prices in other markets, making the lower prices in Phoenix very attractive to investors, who may have been squeezed out of higher priced markets. When you can buy for less than it would cost to buy, that is a smart purchase with a continued upside.
Approximately $1.6 billion in office product is currently under contract or scheduled to come onto the market in the first quarter of 2019.
For more than forty years, Knipp Contracting has been helping homeowners and investors like you maximize their property values, while creating a beautiful space that you can enjoy for years to come.
Are you ready to make an investment in 2019? Our experienced team members are standing by, ready to assist you today. We look forward to hearing from you soon!
Knipp Contracting/Knipp Commercial