Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through March 2022 totaled $916.7 million consisting of 38 office properties and averaging $260 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 4Q2021 relative to prior period)

Office
Vacancy

14.0%

Lease
Rates

$27.87

Net
Absorption

378,574

Construction
Completions

300,000

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