Part 2 of 2
PHOENIX—"You can't wait for build to suits in this market…you have to build on spec." That was according to Mark Singerman, VP and regional director of Arizona at Rockefeller Group Development Corp.
Singerman recently spoke on the industry leaders panel at RealShare Phoenix Metro. "If you had asked me four years ago if Rockefeller would be in suburban two- and three-story apartments, I would have said no way… Now we are." He also pointed out that he sees great opportunity in manufacturing in the southeast part of the Metro area.
Singerman added that finally, small and medium sized companies are jumping off the fence and feeling confident enough to expand, relocate and rehire.
On the office side, Andrew Cheney, CCIM, SIOR, principal at Lee & Associates, said that the tech sector and health related services are growing. But he added that since so many don't know what the future holds in the healthcare industry, many short-term deals are being done.
When moderator Tyler Anderson, vice chairman of CBRE, asked how dynamic Phoenix is and how it is positioned compared to other cities in the area, like Singerman, Todd Sanders, president and CEO of Greater Phoenix Chamber of Commerce, said that the medium and smallish type businesses are starting to come back. "Some parts of the economy—like construction jobs—haven't fully come back, and the other thing we have trouble with is the uncertainty that comes out of the State's legislature…It makes it difficult when we are looking for companies to expand here if they can't find the right labor force."
On the positive side, in looking at other areas like Salt Lake City, San Diego, and Las Vegas, those towns are barely half the size of Phoenix, said Singerman. "People don't realize how big Phoenix is. I spent 14 years in Michigan and if you think the infill of people here is a problem, try dealing with the outflow that many Midwestern states are dealing with. We don't know how good we have it."
He added that Phoenix is much more diversified than it has ever been. "We are not a Detroit that is dependent on the auto industry or a Houston that is dependent on oil."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
