Commercial Real Estate: A Market Rebounding
by J. Rentilly
Although the past decade’s graphs of the commercial real estate market performance in the Phoenix area closely resemble the elastic and wildly extreme trajectory of a bungee-cord adventure, a recent report from W. P. Carey School of Business at Arizona State University finds the extremes are likely over and suggests the region is in the early stages of recovery.
“That recovery is not going to happen overnight, though,” says Karl Guntermann, Fred E. Taylor Professor of Real Estate at ASU and author of the new report. “It’s going to take years, not months, but the worst appears to be behind us. This is going to be a slow crawl to normalcy.”