1Q19 Phoenix Office Market Report

In Quarter 1 of 2019 there was a total of 22,715,096 vacant available in the Phoenix market. Of this, 1,370,197 SF was part of the Phoenix Central Business District, 21,345,770 SF was part of the suburban submarkets. In 2019 there has been a year to date delivery of 948,627 SF to the market bringing the total existing inventory to 185 million square feet. Average asking rates are $25.94/sf up from $25.61/sf in Q4.