Phoenix Q3 2021 Office Market Report
With the removal of COVID-19 restrictions on Arizona businesses and a rise in vaccinations, employees have been encouraged to return to the office. Quarterly leasing volume has returned to near pre-pandemic activity. Simultaneously, many businesses have made the decision to stay remote, which has surged sublease availabilities to a record high. Rents have increased, but Phoenix continues to be affordable with rates below the national average.
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