Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through December 2022 totaled $2.5 billion consisting of 121 office properties and averaging $240 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 3Q2022 relative to prior period)

Office
Vacancy

13.6%

Lease
Rates

$28.88

Net
Absorption

189,874

Construction
Completions

472,722