Tucson Industrial Realty

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Tucson Industrial Realty, LLC is a full-service industrial real estate firm that provides both leasing and sales expertise in the Tucson and southern Arizona industrial and commercial real estate market. TIR covers the spectrum of industrial and commercial real estate activities, including property management, appraisal, leasing, sales, and consulting.
Tucson Industrial Realty, LLC is a multi-disciplined firm offering professional commercial real estate related services. If you are in the market to lease or buy a facility, we can provide the answers to all of your industrial real estate needs.

(courtesy of Brent VanKoevering, Long Realty)
Tucson Rotary Produces 4th Annual Tucson Classics Car Show, October 16th, 2010
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NEW HOTEL DEVELOPMENT: Thirteen new hotels within the city limits are scheduled to open in the next three years. The largest “new” project is the expansion of the Mariott University Park Hotel with approximately 130 new suites.
ECONOMIC UPDATE: University of Arizona economist Marshall Vest predicts the Tucson economy hit bottom at the end of 2009 but admits that recovery is very slow. Vest believes that the housing market will not return to normalcy until 2013. Vest said there were +/- 25,000 homes that the US Postal Service does not deliver mail to. Vest also predicted that unemployment, currently at 8.6%, will drop to 6.5% at the end of 2011.
Bank repossessions of foreclosed homes in Pima Co. hit a record high of 622 units in May 2010. According to Realty Trac’s CEO James Saccacio, overall foreclosure activity is leveling off while lenders work through a backlog of distressed properties.

Are we there yet? Probably not, in my opinion. All sectors of commercial real estate remain in flux during the first half of 2010. As we work our way through the lows of residential real estate values, we still see foreclosures and their impacts on valuations of all classes of real estate. We predict that while we still are experiencing a small decrease in value, many people will look back at this present era as the best time in recent memory to buy a residential property. While this is good news for the residential market and brokers that sell residential real estate, there is some cause for concern for owners of commercial real estate in the future. (click to read more...)

Tucson's Cost of Living Under national Average
Three times a year, the Tucson Chamber participates in the acquisition of data for the national Cost of Living Index. The results of the most recent survey were published last month.
The cost of living index for the third quarter 2009 shows Tucson’s composite index as 98.5. This translates into a below average cost of living for a professional/managerial household, the national average is 100.0, when compared to the 315 urban areas that participated in the quarter’s survey.
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Home Sales Hit Low
According to the 2007 monthly sales report issued by the Tucson Association of Realtors Multiple Listing Service, sales for the year were down 18% from 2006 at 12,109 units. The average sale price for the year was $272,670 up from $270,214 in 2006. December proved to be the worst month for sales in 2007. The median price of all homes sold was $220,000.

Green building is the practice of increasing the efficiency and reducing the environmental impacts of land development. This can be achieved not only through installation of energy efficient appliances or recycling white paper, but through more indirect energy saving techniques and innovative construction practices. Some of these are site selection, (which includes calculating transportation and Heat Island impacts on the environment), and water conservation, for example using non-potable wastewater for landscape irrigation. More ways to build green are to carefully choose construction materials by using rapidly renewable materials, parts and materials of the previously existing building, and by choosing materials that originate locally. Building green does not stop at the ribbon cutting. Operation and maintenance play a huge role in sustaining the energy efficiency and increased value green buildings provide.
Green building is a win-win situation. For example, if the HVAC unit for an existing building gets a green renovation; the utility bill will be reduced, lowering NOI. At the same time the now up-to-date energy efficientHVAC system has increased the property value. Building green will ultimately leave the owner with a more desirable, thus higher priced piece of real estate. An investor/owner will lower the monthly expenses during ownership and realize a higher return when it is time to sell.
Through better site selection, design, construction, operation and maintenance, one can reduce impacts on human health and the environment, not to mention increase the property value.

Sustainable and Responsible Property Investment in 2007, Dr. Gary Pivo, MRP, PhD, University of Arizona, UNEP FI Property Working Group Institute For Rsponsible Investment
*Green Building Checklist – Commercial Construction: http://www.ci.berkeley.ca.us/onlineservice/planning/II.F.4%20Green%20-%20Commercial%20Checklist.pdf

What is the Empowerment Zone?
The Tucson Empowerment Zone provides benefits to businesses and people who are looking for jobs. The benefits are intended to stimulate job growth and promote economic development. The zone is designated by the US Department of Housing and Urban Development and it provides federal tax credits to businesses as an incentive to locate in and/or hire people who reside there. These tax credits are a direct bottom line savings to the company.
The zone is approximately 17 square miles in area is roughly bounded by Pastime Road on the north, Irvington Road on the south, Fairview Road to Mission Road on the west and Los Altos to Campbell on the east. A business can take up to $3000 per year through 2009 for each employee they hire that works in the zone. There are several other available credits. For more information please check out the Tucson Economic Regional Opportunities website at www.treoaz.org or call Paul Swift at 520-243-1947.