IRVINE, CA-Arizona tends to swing more with the economy than California, making it a more volatile state in which to conduct commercial real estate business, Martin Pupil, newly appointed president for the Southwest region at Colliers International, tells GlobeSt.com. Pupil compared the two states on their business profiles and says that California has fewer ups and downs as a state than Arizona does.
“Arizona has a lot more private clients and is impacted a lot more by economic upswings and downturns than California,” says Pupil. “In terms of pricing and leasing, Arizona tends to swing more with the economy. In California, L.A. has a lot of different geography, but it's quite stabilized.”
As GlobeSt.com reported exclusively earlier today, Pupil has just been promoted to his new role at the firm, and he will be in charge of the firm's operations in California and Arizona. Prior to his promotion, he had been regional managing director of Greater Los Angeles for the firm, which included L.A., Orange County and the Inland Empire. He will now be managing operations from San Francisco to San Diego and Arizona in addition to Greater Los Angeles, remaining based in the firm's Irvine office.
According to Dylan Taylor, Colliers' president and CEO for the Americas, the position will allow Pupil to better consolidate all of the firm's operations in its single most-populous region. “The Greater Los Angeles region has seen both a significant growth and major progress toward our strategic goals. While [Pupil] will also continue to oversee the day-to-day operations for Greater Los Angeles as part of his new and greatly expanded role, he will continue to be supported by his very capable senior management team.”
The team consists of managing directors Hans Mumper and John Hollingsworth, who oversee office, retail, industrial and investment operations in Downtown L.A., the Inland Empire, the South Bay, Ventura County, Kern County and the San Fernando, Santa Clarita and Conejo valleys.
As GlobeSt.com reported exclusively in February, Colliers International recently added Michelle Schierberl and Don Ellis to its Irvine office as SVPs for the firm's retail investment division. The veteran brokers will focus primarily on neighborhood and community retail centers.
How does your area react to economic upswings and downturns? Tell us about it in the box below?
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
