5 minute read
NEW: Tucson On The Radar How The Region Is Getting Noticed
Tucson – On The Radar How the Region is Getting Noticed
Pima County is No. 1 in U.S. for Biggest Gains in Talent Attraction
Emsi
The international labor market data company announced that Pima County has made the biggest gains in the nation in attracting talent to the region – based on an analysis of population and migration data, growth of skilled workers, regional competitiveness and educational attainment. The county jumped from 546 to 91.
Where to Travel Next – 2021 Hot List
Conde Nast Traveler.com
Tucson makes the travel magazine’s annual picks of destinations and hotel and industry openings that editors are excited about.
5 Unexpectedly Awesome Cities to Visit in the U.S.
Esquire.com
Tucson ranks in the top 5 domestic cities to travel this year, according to the national men’s magazine.
Top 25 Cities Most Likely to Attract Gen Z
Realtor Magazine
Tucson ranks in the top 25 U.S. cities to attract those born between 1997 and 2012, based on living conditions and job prospects, according to the official magazine of the National Association of Realtors.
The Chuck Huckelberry Loop Voted No. 1 for Best Recreational Trail
USA Today “10 Best Readers’ Choice” The internationally distributed newspaper names The Loop the best recreational trail in the United States, as voted by readers.
Tucson has been named one of the top 10 commercial real estate markets for 2021, according to the National Association of Realtors.
“The top commercial real estate markets that are expected to outperform the rest of the nation are generally affordable and able to draw new residents with a greater flexibility to work from home,” said NAR Chief Economist Lawrence Yun. “These growing markets also offer much lower office and retail rents and are, therefore, able to attract new and expanding businesses.”
In selecting the top 10 markets, NAR considered 25 indicators on an area’s economic, demographic, housing and commercial market conditions in the multifamily, office, industrial, retail and hotel property sectors. Some of the indicators included GDP growth, unemployment rate, median household income, consumer spending, number of business openings, population growth, homeownership rate, rental vacancy rate, building permits and apartment rent, among other variables.
NAR unveiled the top commercial markets during its first-ever Commercial Real Estate Forecast Summit earlier this year, which featured a panel of leading economists who discussed the pandemic’s impact on commercial real estate, including the multifamily, office, retail and industrial sectors as well as real estate investment trusts, or REITs.
“A recovering economy and the near certain job growth will steadily lead to the absorption of commercial properties,” Yun said. “The apartment rentals market could once again experience very low vacancy rates by year’s end.”
Calvin Schnure, Nareit’s senior VP of research and economic analysis, said that REITs have performed well overall in spite of COVID-19, although some variance exists depending on the market segment.
“The impact of the pandemic on commercial real estate varies widely across property types,” Schnure said. “REITs have been resilient due to their strong balance sheets and liquidity and solid operating fundamentals when the
Tucson – On The Radar
Tucson Ranks in Top 10 Remote-Ready U.S. Cities
Livability.com
Tucson ranks in the Top 10 list of top cities where remote workers could move, based on broadband access, local jobs that can be done at home, affordability, a robust regional economy and quality of life, according to this website that ranks America’s most livable small and mid-sized cities.
Tucson is One of Hottest Housing Markets in 2021
Redfin
The national real estate brokerage, Redfin, predicted that Tucson will be one of this year’s hottest housing markets.
Remote Tucson – 5 Creative Incentive Programs That Might Inspire Your Next Move
Livability.com Remote Tucson, a program started by Startup Tucson to recruit remote workers here, gets a mention on this website that ranks America’s most livable small and mid-sized cities
Underappreciated American Cities You Should Totally Move To
Thrillist.com
Tucson ranks among several cities in which people can find “exemplary food scenes, communal green spaces, an undercurrent of creativity, thriving LBGTQ communities and ample nightlife,” according to this online media website that focuses on food, drink, travel and entertainment.
Best Cities for an Active Lifestyle in 2021
WalletHub.com
Tucson ranks No. 19 out of 100 U.S. cities as most accommodating to an active lifestyle, based on 36 indicators including fitness club fees, bike scores and share of physically inactive adults. WalletHub is a personal finance website.
crisis erupted.
“Some sectors have been harder hit, especially lodging, resorts and retail REITs, while sectors that support the digital economy – including data centers, cell towers and industrial and logistics facilities – have enjoyed a surge in demand.”
Gay Cororaton, NAR senior economist and director of housing and commercial research, anticipated the multifamily, industrial and retail sectors will drive the commercial real estate recovery this year, but said it may take longer for office occupancies to reach pre-pandemic levels.
“Multifamily and industrial remain the commercial market’s bright spots,” Cororaton said. “With wide differences in commercial and apartment rents across metro areas, development will turn to less expensive markets that are closer to the gateway cities. “However, office vacancy rates will remain elevated, even with full office-job recovery by the middle of 2022, due to some shifting toward a nationwide work-from-home culture.”
The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.
In alphabetical order, the top commercial real estate markets are:
