Tag Archives: Downtown Phoenix

Major forces promoting Downtown Phoenix continue to attract tech tenants

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For years, the Phoenix tech industry has been driven by heavy activity in Scottsdale and Tempe, particularly South Scottsdale and Downtown Tempe. The live-work-play concept of these areas continue to lure the young professionals many tech companies recruit.

However, Downtown Phoenix has recently emerged as another popular submarket to evaluate,… Read More

Riding the tech wave—6 top trends impacting today’s and tomorrow’s real estate decisions

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From San Francisco to New York and everywhere in between…

The tech industry continues to be the largest consumer of office space across the country.

And not just in the major tech hubs.

As all industries across the spectrum continue to innovate and incorporate new tech into their business models, owners and… Read More

Phoenix office rents increase to highest level in nine years

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Office rental rates in the Phoenix market increased to $25.21 per square foot in the second quarter, quickly approaching the previous peak of $26.82 per square foot set in 2007.

Click on chart to view larger.

 

With absorption surpassing 12.6 million square feet and only 8.8… Read More

Downtown Phoenix gets new office inventory for the first time since 2010

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downtown Phoenix skyline

Downtown Phoenix skyline

The Downtown submarket saw 122,220 square feet of redeveloped office space delivered in the fourth quarter of 2016, marking the first time new inventory has been added to the submarket since 2010.

Situated in the fast-growing Warehouse District, 515 East Grant… Read More

Highlighting our Southwest Skyline

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From coast to coast, our city skylines are a source of pride and community. It’s not surprising that top-tier office buildings in our urban cores continue to report lower vacancies, higher rents and more developer interest.

The anticipated Skyline Review is back, and more advanced than ever before.

Skyline (1)

In case you missed it in years past, the Skyline Review features JLL’s proprietary market insights… Read More

The Phoenix Skyline continues to evolve as a hip live-work-play destination

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Downtown Phoenix Skyline

Downtown Phoenix Skyline

The office buildings that make up the Phoenix Skyline have entered new territory in 2016, with rents and tenant demand achieving impressive gains over the last 12-24 months. And while JLL’s 2016 Skyline shows that rent growth across much of the nation may be peaking and moderating, Phoenix’s Skyline and trophy assets (those ultra-premium… Read More

Phoenix’s skyline Trophy office rental rates continue to rise

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PhoenixSkylineBlogImageDemand 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

Chart of the Week: Phoenix office investment hotspots

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COW_Phoenix_January 12 BLOG

Improving economic conditions across the Phoenix metro have reinvigorated investor interest in the Valley’s office product. Not surprisingly, the top submarkets for investor activity are also submarkets that boast some of the lowest vacancy rates and highest demand in the Valley.

Click here for more market insight on our Phoenix research group web… Read More