News Releases
Search our commercial real estate news and announcements.

Phoenix Office Market Report (Q1 2021)

Phoenix Office Market Report (Q1 2021) 15 Apr 2021

Recent large lease deals for corporate occupiers as well as relocating start-ups from California are helping assure a positive outlook for the Phoenix Office Market. While record negative absorption this quarter is stark, relative to the rest of the nation, Phoenix is highly competitive and poised for a strong recovery. Its momentary problems are shared by every major US market, but its advantages are unique.

 

Quick stats

Total office market inventory: 97.3 msf 

Overall vacancy rate: 18.7%

Net absorption: -1.4 msf 

Total investment sales: $330.2M 

Overall average asking rate: $28.75 psf 

 

Read full report here