5 real estate law trends to watch in Arizona
As the Phoenix commercial real estate market evolves, property owners and investors are navigating shifting demand, leasing complexities and market uncertainty. Casey Blais, a real estate attorney and shareholder at Burch & Cracchiolo, works closely with clients on issues ranging from landlord-tenant disputes to commercial evictions across the Valley and shared five real estate law trends to watch in Arizona.
Blais shared his thoughts on market trends, legal risks, the growing demand for industrial space and real estate law trends to watch:
- “Lease and loan defaults are an important trend we’re always keeping a pulse on. Right now, both the office and the retail side are holding steady.”
- “The main concerns for property owners and property managers are making sure that people continue to pay rent. They’re constantly watching that and balancing giving folks time to be late and eventually pay rent. Overall, I’m not seeing major default numbers.”
- “We’re seeing strength in the industrial realm, but the office sector is a little bit questionable. Vacancies are still fairly high, but more businesses are going back to the office.”
- “A lot of companies have downsized their office space to the extent they’re able to, and those looking for new space are more conservative in the amount they want.”
- “What we’ve seen over the last decade is more higher-end industrial parks and warehouses for companies engaged in e-commerce. I think we’ll see continued growth in that area in the coming years.”