Phoenix office net absorption is outpacing new construction

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Since 2011, more than 9.7 million square feet of office space has been absorbed, outpacing nearly 6.0 million square feet of new deliveries. Overall vacancy is expected to decline in 2017 as employers expand and relocate to the Valley.

Phoenix is experiencing a much more diverse recovery during this economic growth cycle. Strong growth in the office-using employment sectors is translating into greater absorption of office space.

Source: JLL Research

Click here to learn more about the Phoenix office market or visit our Phoenix Research webpage for additional market insight.

About the author

Keeley Buyer, Research AnalystKeeley Byer is a market research analyst for the JLL Phoenix office. With four years of market research experience and eight years of commercial real estate technology experience, he continually tracks and analyzing trends affecting the Phoenix Metro commercial real estate market.

 

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