Phoenix 4Q18 Office Report

In Quarter 4 of 2018 there was a total of 23,113,556 SF vacant available in the Phoenix market. Of this, 1,283,265 SF was part of the Phoenix Central Business District, 21,830,291 SF was part of the suburban submarkets. In 2018 there has been a year to date delivery of 1,229,811 SF to the market bringing the total existing inventory to 184 million square feet. Average asking rates are $25.61/sf up from $25.29/sf in Q3.