Quote:
Originally Posted by PHX31
The residences at Cityscape are 50% leased after 5 months on the market. They are hoping to be 100% leased by Christmas.
That seems a little slow to me, but it really is one of (if not the only) highrise new luxury rental apartment building in Phoenix. Is this a good leasing rate even compared to some other moderately-sized young cities? Or is this just good(-ish) for Phoenix, but woefully slow compared to other places? I really have no idea.
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I did some historical research- 44 Monroe was 43% leased after 4 months, 56% after 6 months:
http://www.downtownphoenix.com/blog/...ning-exposure/
http://forum.skyscraperpage.com/show...=98405&page=59
50% after 5 months sounds about right.