Scottsdale, AZ Commercial Real Estate Market Overview
Scottsdale, Ariz., is known for its balanced, diverse economic landscape, with the healthcare, finance, retail, technical services, accommodation services and manufacturing sectors making up the bulk of its economy. Honor Health, CVS Health, Vanguard, the City of Scottsdale and the Scottsdale Unified School district are the city’s top employers. Scottsdale is also the home of the corporate headquarters of Magellan Health, a prominent healthcare organization that just recently made the Fortune 500 list.
The city is also home to one of the busiest single-runway airports in the U.S., which operates corporate flights and general aviation. This has led to the rapid development of the surrounding area known today as the Airpark and turned it into the second-largest employment center in the Phoenix metropolitan area. Most of Scottsdale’s commercial real estate is concentrated in this part of the city, with new developments continuously adding to the existing supply of prime, well-connected commercial properties.