The demand for commercial real estate in Arizona is high. Department stores, restaurants and grocery stores are vying for prime land to build near the urban and suburban growth markets. Leasing rates are high for business owners as the demand for space is at a premium and they can get it.
Investors are snatching up large chunks of land and developing into strip malls, golf communities and retirement homes. The investors belong to Arizona and are out of state equally. Snowbirds, those who winter in Arizona, are deciding to invest their money in land and are purchasing small and large parcels.