Media Inquiries
Mary Beth Campbell
Communications Manager
602.222.5083
Over the past several years, there has been a major influx of capital invested in the Central Phoenix area. The number of buildings sold and the average price per square foot has increased dramatically, while cap rates have continued to decline. In 2001 cap rates averaged 10 percent. As interest rates hit their lowest point in 40 years and a large influx of investment capital left the stock market and migrated into real estate, there was continued downward pressure on cap rates. In 2006 they reached their lowest point of 7 percent....
