Market

The Phoenix office of Cresa tracks local real estate market statistics by nine primary geographic submarkets—Airport Area, Central Corridor, East Phoenix, East Valley, Northwest Valley, Paradise Valley, Scottsdale, West Phoenix and Tucson — with professional staff with experience in each specific submarket.  There are significant opportunities in the Phoenix marketplace for Tenants to achieve tenant favorable lease terms, whether they are relocating or renewing and restructuring their leases. Please refer to the Phoenix Tenant's Guide for current market specifics such as average rental and vacancy rates.

The greater Phoenix marketplace has over 151,000,000 Square feet of office space, and over 270 Million Square feet of industrial space. The Greater Phoenix area has been affected by the economic downturn, but continues to have a strong mix of business activity, including a significant presence of companies and institutions in the fields of education, healthcare, back office operations, financial services, distribution, manufacturing, technology, biotech, and other professional services. Increased vacancy rates continue to make it a Tenant’s market in Phoenix providing opportunities for reduced rental rates, rent abatement, favorable lease terms, and tenant improvement dollars.

Company

Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Portfolio / Lease Administration, Capital Markets, Sustainability, Industrial / Supply Chain and Facilities Management. With more than 55 offices, Cresa is the largest tenant representation firm in North America. Through its alliance with Savills, one of the world's largest commercial real estate services firms, Cresa covers more than 255 locations in 40 countries.