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oai:keep.lib.asu.edu:node-1932032024-12-19T19:04:43Zoai_pmh:alloai_pmh:repo_items

193203 https://hdl.handle.net/2286/R.2.N.193203 http://rightsstatements.org/vocab/InC/1.0/ http://creativecommons.org/licenses/by-nc-sa/4.0 2024-05 22 pages Aronowitz, Ethan Stapp, Mark Koblenz, Blair Barrett, The Honors College Department of Finance Text This thesis explores how fundamental variables of business cycles influence commercial real estate cycles and investor behavior within them. Specifically, I address studies correlating key business cycle variables to commercial real estate cycles. Then, I address the Phoenix industrial real estate market and analyze whether or not the predicted or theorized consequences of the changes in the key business cycle variables impacted the Phoenix industrial real estate market. My findings on the topic provide valuable insight into the predictability of industrial real estate behavior throughout cycles, given the changes in fundamental economic variables of business cycles. Specifically, it demonstrates how the Phoenix industrial real estate market has historically behaved in correlation to business cycles and their variables. My findings also highlight the importance of observing the Phoenix market’s continued response to changes in the macro-economy. Real Estate Industrial Phoenix cycles Exploring the Correlation Between Business Cycles and Real Estate Behavior in the Phoenix Industrial Market