Categories Narrative, Office Market

1-Minute Market Update: Q4 2016 Report

The Metro Phoenix office market’s health continues to improve. Net absorption (job growth) of 2.93 million SF mirrored 2015 figures, which helped push vacancy down to 18.6% (from 19.5% at the end of 2015). Overall, lease rates are higher than they were a year ago with a current average of $24.34/SF Full Service. Rental rates still … Continue reading 1-Minute Market Update: Q4 2016 Report