Phoenix Commercial Office Property Market Reports

Office Market Conditions

Office investment sales through April 2024 totaled $403.6 million, consisting of 23 office properties and averaging $173 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 1Q2024 relative to prior period)

Office
Vacancy

15.1%

Lease
Rates

$29.87

Net
Absorption

(572,754)

Construction
Completions