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Arizona
Commercial Real Estate Listings
BuildingSearch.com has a wide variety of Arizona commercial real estate listings ranging from office space and retail to industrial properties and anything in between.
The state of Arizona is located in the southwestern region of the United States. The capital and largest city is Phoenix. Arizona was the 48th and last contiguous state admitted to the union in 1912. Arizona is known for its desert climate, with exceptionally hot summers and mild winters. Arizona is the fastest growing state in the United States. In addition to the Grand Canyon, many other national forests, parks, monuments, and Indian Reservations are located in Arizona.
Arizona is the sixth largest state in area in the United States. The Grand Canyon is a colorful, steep- sided gorge that was carved by the Colorado River. The canyon is one of the seven natural wonders of the world and is one of the first national parks in the United States. Arizona commercial real estate is also home to seven major Fortune 1000 companies waste management company Allied Waste, electronics corporation Avnet, Apollo Group (which operates the University of Phoenix), mining company Freeport McMoRan (recently merged with Phoenix based Phelps Dodge), retailer PetSmart, energy supplier Pinnacle West and retailer CSK Auto. Another interesting fact is that Arizona does not partake in Daylight Savings Time. Arizona is also home to one of two major league baseball spring training locations and leagues, the Cactus League. This attracts millions of tourists to the state annually.
The 2006 total gross state product was 232 billion dollars. If Arizona were an independent country it would have the 61st largest economy in the world. Arizona currently holds the 21st largest economy in the United States. Arizona commercial real estate provides homes for businesses in a variety of industries from agriculture to engineering. Early in Arizona’s history its economy relied on the five C’s: copper, cotton, cattle, citrus, and climate. At one point Arizona was also the largest producer of cotton in the country. WalMart is currently the largest employer in Arizona, at 17,343 employees.
The commercial real estate market over the past several years in Arizona has been booming. However, in the second quarter of 2008 office activity has slowed down. This low level of activity may continue as new projects enter the marketplace in the future. New construction has remained consistently strong. Supported by strong population inflow and new opportunities available, the market is geared toward gains heading into 2009.
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