Phoenix office market report

Q1 2025

24%

Vacancy

Vacancy rates continue a slow downward trend, with sublease space being gradually absorbed and total sublease vacancy falling to 4.7%.
$30.76

Asking rents ($)

Asking rent growth has decelerated, with rates increasing at a much slower pace compared to the previous two years.
$77.5M

Investment activity

Investment activity has rebounded, fueled by a recovering lending landscape as investors have capitalized on discounted office sales.

Your source for the latest Phoenix office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater Phoenix area. Avison Young advisors look at Phoenix commercial real estate activities and the latest Phoenix statistics to provide you expert market research on Phoenix's office properties.

Explore different topics like the latest office market pricing trends and analysis of Phoenix's current office real estate market conditions. Gain a better understanding of Phoenix’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Phoenix's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Phoenix.

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