PHOENIX—As we reported previously the greater Phoenix metro area is on fire, with a roster of bell-ringing deals being signed in the surrounding towns of Scottsdale, Tempe and Chandler.

As Andy Weflen, Phoenix and Las Vegas regional director for data provider Xceligent, explained, that activity is being fueled by a combination of new tech (GoDaddy, Weebly) and traditional tenants (State Farm, Northern Trust). And as we've seen in major markets around the country, more fuel is being poured on by a growing Millennial population, choosing employment in those “cool” new places and driving the local live-work-play transformation.

And as the market grows, so grows Xceligent, a GlobeSt.com Thought Leader. David Verwer, CCIM, regional sales manager for the firm's Western Region, calls the local market activity “red hot,” and reports that the data provider is keeping pace. “There is so much development, leasing and investment money flowing into this market right now that it's truly phenomenal,” he tells GlobeSt.com. It's a big change from five years ago, before major corporations and the tech sector, in particular, discovered what had been a “sleepy little tourist town.”   

Xceligent launched its Phoenix services in January of 2012, and today has no fewer than 30 people dedicated to the market. “That includes four client-services professionals and the national call team,” he explains. This front line of professionals has mounted what he describes as a massive sales push “to get in front of as many people as we possibly can, and we've had a lot of success.” That success includes the expansion of its client base to include appraisers, an initiative begun in the local market in Q4 of last year.

Last year also saw the completion of a major milestone: the laborious task of certifying the data of the top 50 area firms, including the 22 members of the Xceligent Phoenix office and industrial advisory boards—the team is currently establishing a retail board. That exercise involved a suite-by-suite confirmation of all data provided by the advisors, which, Verwer explains, comprises more than 93% of all local market stats. “We updating our records based upon that new information to ensure that we are 100% aligned with our boards,” he says.