Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through January 2024 totaled $99.7 million, consisting of 8 office properties and averaging $129 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 4Q2023 relative to prior period)

Office
Vacancy

14.9%

Lease
Rates

$29.66

Net
Absorption

(177,760)

Construction
Completions

150,000