In the past week, some good news has been reported about commercial real estate in the East Valley. Recently, a company called Mascia Development LLC, from New York looked at 350 metro areas around the United States. They evaluated these areas for appeal to investors, with the assumption that rising interest rates in the next year will lead to lower property prices.
The report called out the Chandler-Mesa area as one of the best markets for many types of commercial properties including office buildings and warehouses.
The evaluation also went on to say that U.S. cities that are well-known around the world are “over-saturated” with wealthy global investors that have driven property values so high that they are unsustainable long term.
The Mascia study found that one of the reasons that the East Valley Commercial Real Estate Market is sustainable is that the area is home to multiple industries, which have diversified our economy.
Mark Mascia, the Mascia Development LLC president and CEO, was quoted on azcentral.com in an article called Phoenix-area Commercial Properties Less Risky as saying that, “We view Chandler and Mesa as especially strong. ” He also said that the reason that other cities like Austin, Dallas and Houston are some of the most over-valued markets is that they are “one-horse towns” and tend to rely on one industry and although they may be doing well now, their markets may not be as risk averse.
This study is very exciting for Menlo Group CRE as we have many properties listed in this risk-resistant market that are good investments for those interested in getting into buying commercial real estate for their own use or as an investment property to rent out to tenants.
Menlo Group CRE is more than happy to answer any questions you may have about our up and coming commercial real estate in the East Valley. For further information you can contact us here.