All product types are finally seeing rent growth in the Phoenix valley. The last time Phoenix saw rising rents across the board was in 2006 right before the economic collapse. As expected, Class C product dropped their rates the most during the recession, but all properties have been dropping rates over the last few years. Beginning in 2013 and through 2014, modern Class A properties have led the charge in rent growth, but middle-of-the-ground Class B space is closing the gap relatively quickly.
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