Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through April 2023 totaled $312 million, consisting of 23 office properties and averaging $186 per square foot (based on sales of more than $1 million and greater than 20,000 square feet).

Office Historical Sales

Historical Office Sales
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Key Indicators (as of 4Q2022 relative to prior period)

Office
Vacancy

14.0%

Lease
Rates

$29.10

Net
Absorption

(459,265)

Construction
Completions

149,256