{"id":1004175557,"date":"2017-05-26T00:00:58","date_gmt":"2017-05-26T08:00:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004175557"},"modified":"2025-02-26T23:48:37","modified_gmt":"2025-02-27T07:48:37","slug":"phoenix-rising","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/","title":{"rendered":"Phoenix Rising"},"content":{"rendered":"<p>By Anca Gagiuc<\/p>\n<div id=\"attachment_1004159760\" style=\"width: 410px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004159760\" class=\"wp-image-1004159760 size-full\" src=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix-rent.jpg\" alt=\"Phoenix rent evolution, click to enlarge\" width=\"400\" height=\"167\" \/><p id=\"caption-attachment-1004159760\" class=\"wp-caption-text\">Phoenix rent evolution, click to enlarge<\/p><\/div>\n<p>Phoenix is riding a wave of solid performance. New supply is keeping pace with demand, helping to maintain healthy vacancy rates. Employment is improving, and while its rate has slowed from previous years, job growth in the Sun Belt is expected to be among the nation\u2019s highest in 2017, thanks to the region\u2019s warm climate and relatively low cost of living. Both of these benefits attract people from across the country.<\/p>\n<p>Mining, logging and construction; leisure and hospitality; and education and health services are Phoenix\u2019s main economic drivers. The metro\u2019s burgeoning economy attracts investment and development; some 784,000 square feet of speculative office product is scheduled for delivery by the end of 2017. Among new deliveries is Ryan Cos.\u2019s 271,000-square-foot regional headquarters for health-care company McKesson, currently under construction in South Scottsdale.<\/p>\n<p>Rents rose 5.1 percent year-over-year through March, well ahead of the national average. Although homeownership remains less costly than renting, and Phoenix is less expensive than many major markets, affordability is becoming more challenging. Upcoming supply is robust, with more than 9,000 units currently under construction and 16,000 in the planning stages. Investor demand is also strong: More than $5 billion worth of multifamily properties have changed hands since the start of 2016.<\/p>\n<p>Read the full <a href=\"https:\/\/www.yardimatrix.com\/Media\/Downloads\/File\/231-Phoenix-Spring2017Outlook?utm_medium=Research-Center&amp;utm_source=MHN-CPE&amp;utm_campaign=231-Phoenix-Spring2017Outlook\" rel=\"nofollow noopener\" target=\"_blank\">Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Valley of the Sun is riding a wave of solid performance. New supply is keeping pace with demand, helping to maintain healthy vacancy rates.<\/p>\n","protected":false},"author":237,"featured_media":1004175560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,21808,21742,37795,1601,15],"tags":[],"class_list":["post-1004175557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-featured","category-latest","category-rc-occupancy","category-phoenix","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Phoenix Rising - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Rising\" \/>\n<meta property=\"og:description\" content=\"The Valley of the Sun is riding a wave of solid performance. New supply is keeping pace with demand, helping to maintain healthy vacancy rates.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-26T08:00:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:48:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Phoenix Rising\",\"datePublished\":\"2017-05-26T08:00:58+00:00\",\"dateModified\":\"2025-02-27T07:48:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/\"},\"wordCount\":226,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/05\\\/Phoenix.jpg\",\"articleSection\":[\"Absorption\",\"Featured\",\"News\",\"Occupancy\",\"Phoenix\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/\",\"name\":\"Phoenix Rising - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/05\\\/Phoenix.jpg\",\"datePublished\":\"2017-05-26T08:00:58+00:00\",\"dateModified\":\"2025-02-27T07:48:37+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/05\\\/Phoenix.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/05\\\/Phoenix.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-rising\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix Rising\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\",\"name\":\"Anca Gagiuc\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g\",\"caption\":\"Anca Gagiuc\"},\"description\":\"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/anca-gagiuc\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix Rising - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix Rising","og_description":"The Valley of the Sun is riding a wave of solid performance. New supply is keeping pace with demand, helping to maintain healthy vacancy rates.","og_url":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-05-26T08:00:58+00:00","article_modified_time":"2025-02-27T07:48:37+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg","type":"image\/jpeg"}],"author":"Anca Gagiuc","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/"},"author":{"name":"Anca Gagiuc","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"headline":"Phoenix Rising","datePublished":"2017-05-26T08:00:58+00:00","dateModified":"2025-02-27T07:48:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/"},"wordCount":226,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg","articleSection":["Absorption","Featured","News","Occupancy","Phoenix","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/","url":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/","name":"Phoenix Rising - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg","datePublished":"2017-05-26T08:00:58+00:00","dateModified":"2025-02-27T07:48:37+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-rising\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phoenix Rising"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/340a1a5e8e7dd137bd91ca1dd3a2e9d7","name":"Anca Gagiuc","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d3faafbc9e42cee6d04189129d2ee35dc7818b52bae9848e065f3b86af1df47e?s=96&d=mm&r=g","caption":"Anca Gagiuc"},"description":"Anca Gagiuc brings more than a decade of experience within the real estate industry. She is a senior associate editor with Commercial Property Executive and Multi-Housing News who also writes monthly multifamily reports at Yardi Matrix. Contact Anca at anca.gagiuc@cpe-mhn.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/anca-gagiuc\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Phoenix.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004175557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/237"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004175557"}],"version-history":[{"count":8,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004175557\/revisions"}],"predecessor-version":[{"id":1004748778,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004175557\/revisions\/1004748778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004175560"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004175557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004175557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004175557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}