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JLL: Phoenix CRE gaining in financial services sophistication

November 21, 2018 / JLL

New and increasingly sophisticated office users are transforming Phoenix’s financial services landscape from a once predominantly call center market into a diverse operational hub, according to the recently released JLL Financial Services Operations Center Report. Compared to even a few years ago, the Valley is now home to a wave of financial services companies  to include banking entities and insurance companies with banking departments who are choosing to relocate or expand in secondary cities like Phoenix over established headquarters markets. According to JLL, two-thirds of all financial services real estate is now located in such markets, well outside of the places most commonly associated with banking, such as New York and San Francisco.