Already a Bloomberg.com user?
Sign in with the same account.
TEMPE, Ariz. (AP) — An Arizona State University real estate expert says several factors are causing the Phoenix area's commercial real estate to lag even as the overall market starts to recover.
Professor Mark Stapp of the W.P. Carey School of Business says technology advances and increased productivity mean businesses don't need as much office space as before.
And Stapp says some older buildings aren't configured for modern equipment or may lack parking.