2020 Q3 Market Report - Office

In Quarter 3 of 2020 there was a total of 24,625,690 SF of vacant available space in the Phoenix market. The 4 &5 star properties represented a 14.5% vacancy rate compared to 12.7% for the greater Phoenix office market. In Q3 2020 there has been Net Deliveries of 480,817 SF to the market bringing the total existing inventory to 194 million square feet. Average asking rates are $26.29/sf, up 2% from one year ago.

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