TJ Gray | Colliers International | Phoenix - Valuation

TJ Gray


Valuation Services Director

License # Certified General AZ #31808

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Professional Summary

As a valuation services director with Colliers International Valuation and Advisory Services, I contribute over 15 years of real estate appraisal and sales related experience. I have completed assignments throughout the states of Arizona, Nevada, and New Mexico.

Being competent in the principles of valuation across all property types, I now concentrate on retail, industrial, and office related asset types, with specialization in self-storage (mini-warehouse) projects. I graduated from the nationally ranked business college at the Eller College of Management (University of Arizona), with an emphasis in Finance, Business Administration, and International Business.


  • Certified General Real Estate Appraiser, State of Arizona
  • Certified General Real Estate Appraiser, State of Nevada
  • Salesperson's License, State of Arizona


  • Bachelor of Science in Finance and Business Administration with an Emphasis in International Business - Eller College of Management, University of Arizona (2003 - 2006)
  • Associate of Business, Pima Community College (2001 - 2003)
  • Appraisal Institute
  • Arizona School of Real Estate & Business
  • Hogan School of Real Estate  

Memberships & Involvements

  • Member of the Appraisal Institute
  • Arizona Self-Storage Association Member


Residual Land Value, Residential Resales, Property and Project Finance, Financial Analysis, Development Consulting, Distribution Centres, Self Storage, Shopping Centres, Warehouses
Service Lines
Valuation and Advisory
Property Type
Industrial, Land, Office, Retail, Multifamily
Featured Research
Jul 18, 2020
2020 Q2 Greater Phoenix Medical Office Market Report
The Greater Phoenix medical office market added 244,956 SF of inventory in second quarter with a vacancy of only 18% within these projects. Net absorption was 192,001 SF in second quarter. Vacancy settled at 13.8 percent. Rental rents settled at $21.58 PSF.
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Jul 7, 2020
2020 Q2 Greater Phoenix Industrial Market Report
Greater Phoenix industrial net absorption ended Q2 up 2.7 MSF and 3.7 MSF year-to-date. Over-the-year vacancy increased only 70 bps to 7.7%. Under construction rose to 11.6 MSF. Asking rates increased nearly 4.2% over-the-year, reaching $0.58 PSF. The quarter closed with $320 million in sales volume.
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Jul 6, 2020
2020 Q2 Greater Phoenix Office Market Report
The Greater Phoenix office market experienced a healthy second quarter. Sublease space increased 82% over-the-quarter. Net absorption remained positive for the 33rd consecutive quarter with 205,372 SF net absorption. Vacancy settled at 13.1%. Rental rates held strong with an average of $25.71 PSF.
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Featured News
Aug 4, 2020
Phoenix medical office market thrives in Q2 during pandemic
Colliers International reports the medical office market posted its strongest quarter of net absorption in nearly two years and vacancy dropped 50 basis points to 13.8%. Approximately 244,956 SF of new medical office space was added to inventory and only 18 percent of that is vacant.
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Jul 13, 2020
Expanding online commerce drives industrial market growth
Colliers International reports the Greater Phoenix industrial real estate market remains healthy, despite business conditions during the pandemic. America’s growth in online purchasing is driving expanded demand for warehouse/distribution space.
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Jul 10, 2020
Phoenix office market remained positive in Q2 2020
The Greater Phoenix office market remained relatively healthy during second quarter. According to Colliers International’s market report, the office sector posted its 33rd consecutive quarter of positive net absorption and office vacancy remains below 15%.
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Apr 21, 2020
1Q 2020 industrial market report highlights strength before shutdown
Greater Phoenix Industrial market could be poised for a surge in demand for warehouse/distribution space, reports Colliers in Arizona. The stay-at-home orders from the coronavirus pandemic forced more people to shop online. Those lasting habits will increase online retailer demand for distribution space.
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