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United States | Phoenix, AZ

Report | Phoenix Office Insight - Q3 2016

Summary

As of Q3, total vacancy in Metro Phoenix is 19.7 percent, the lowest its been since 2008—an 8-year low. Positive net absorption topped 2.6 million square feet in September and is expected to exceed 3.0 million square feet by year's end. That would make it the highest level of absorption Phoenix has seen since 2005.

Through the third quarter, Phoenix office deliveries have totalled nearly 1.8 million square feet and are projected to hit 2.3 million square feet by the end of the year. That would be just 200,000 square feet shy of last year's (2015) total.​

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