Phoenix, Arizona | Valley in top 10 in US for foreign investors
For the first time, metro Phoenix was among the top 10 U.S. markets in terms of foreign investment in commercial-real-estate assets in the second quarter.
Local real-estate analysts said a number of factors contributed to the boost in foreign investment in Phoenix, including a dearth of attractive, available commercial properties in coastal U.S. cities and the stabilizing of Phoenix-area real-estate prices.
While Canadians have dominated the Phoenix area’s offshore commercial-real-estate investment activity in recent years, there also have been purchases by European, Middle Eastern and Asian investors, analysts said.
