2020 Q4 Market Report - Office

In Quarter 4 of 2020 there was a total of 25,143,342 SF of vacant available space in the Phoenix market. The 4 &5 star properties represented a 15% vacancy rate compared to 12.9% for the greater
Phoenix office market. In Q4 2020 there has been Net Deliveries of 124,359 SF to the market bringing the total existing inventory to 194 million square feet. Average asking rates remain at $26.76/sf, with no change from one year ago.

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