• Phoenix

Five Fast Facts – Phoenix Office Market Q3 2018

The Phoenix office market Q3 2018 data indicated vacancy fell below 16 percent for the first time since Q1 2008. Vacancy is expected to continue to fall below 15 percent by the end of 2019, and as vacancy falls rental rates continue to rise. At the close of the third quarter, 20 of the 22 submarkets experienced positive occupancy growth with the office market absorbing 494,000 square feet (sf), bringing the 2018 net absorption to 2.1 million square feet (msf). This is more than double the square footage absorbed by Q3 2017.

Below are five fast facts about the Phoenix office market from the Cushman & Wakefield Phoenix Research Team. Want more? View the full report here.

  • Phoenix

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