Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through April 2021 totaled $583 million consisting of 33 office properties and averaging $203 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 1Q2021 relative to prior period)

Office
Vacancy

13.8%

Lease
Rates

$27.48

Net
Absorption

(372,905)

Construction
Completions

1,187,151
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