Tag Archives: office rents

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.

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

Average office asking rent increases to the highest level since 2008

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The average asking rent in Metro Phoenix reached $24.91 per square foot (Full Service Gross) in in the first quarter of 2017. Asking rents have increased 4.9 percent from one year ago and have surged 22.8 percent since 2012.

Phoenix asking rents are still 7.1 percent below the pre-recession peak… Read More

History Repeating: JLL Q1 Report Shows Highest Phoenix Office Rents Since 2007

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Even with more than 1.1 million square feet of new space delivered in the first quarter of the year, average asking rents for Phoenix office product has increased to the highest level in nine years, according to the JLL’s Q1 2017 Phoenix Office Insight report released. Reaching $24.91 per-square-foot, today’s Phoenix office rent average is just 7.1 percent lower than the pre-recession high of $26.82, set in Q4 2007.

Phoenix is one of the most affordable office markets in the West

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COW_Phoenix_Q2 2016 asking rent_August 29 2016-Cropped

Phoenix is home to one of the most affordable office markets in the West, behind only Salt Lake City and Sacramento, with an asking rent of $23.94 full service gross in the second quarter of 2016.

Asking rent in San Francisco is 205 percent more… Read More