The South Scottsdale submarket recorded the Valley’s largest percentage gain in average direct asking office rates since 2011. Asking rents have increased 40.5 percent,… Read More
Demand for trophy buildings remains high, according to JLL’s 2015 digital skyline review
There’s no space like Trophy space. The premiere office towers that make up Phoenix’s skyline boast—by far—the most expensive office space to rent, garnering asking rents that are 33.5 percent higher than non-Trophy space, according to JLL’s 2015 Digital Skyline. Average Phoenix Trophy rates in the first quarter of 2015 were $26.53 per square foot, compared to $19.87 per square foot in non-Trophy buildings.
This gap between local Trophy and non-Trophy space is approaching peak historical spreads: 10 years ago, the difference was 37.6 percent.… Read More