Arizona Real Estate Notebook

Investors, light rail boost Central Corridor rental rates

I don’t know how much light rail had to do with it but that’s the “chamber of commerce” answer.

Investors have been hot for office space nationally and internationally for years now and that’s driving prices and therefore rents up.

The sticker shock Thomas and other tenants in the area say they are experiencing is the result of a shift in one of metro Phoenix’s oldest office districts.

The area, generally defined as Central Avenue between McDowell and Camelback Roads, is once again considered prime real estate for companies whose employer base draws from across the Valley.