Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through August 2022 totaled $2.0 billion consisting of 100 office properties and averaging $248 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 2Q2022 relative to prior period)

Office
Vacancy

13.5%

Lease
Rates

$28.62

Net
Absorption

517,056

Construction
Completions

287,000