The Phoenix office market has room for more recovery as other Western markets approach their peak

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JLL Office Property Clock

JLL Office Property Clock

JLL Senior Managing Director Dennis Desmond recently sat down with GlobeSt.com for an exclusive interview in their article “What Time is it on the Office Property Clock.” In the article, Desmond discusses how Phoenix was late to recover from the recession and therefore, still has tremendous runway as other Western markets are approaching their peak.

“Investors are watching major Western office markets approach their peak, and they think this is happening in Phoenix as well, but it is not.”

Desmond discusses that while some premier submarkets in Phoenix are experiencing all-time rent and occupancy highs, these scenarios are fairly isolated as the rest of the Valley is working to catch up.

“Most investors can still buy Phoenix office buildings with the expectation of as much as two or three years of solid rent growth and lease activity ahead of them.”

To learn more, click here to read the full article on GlobeSt.com or contact Dennis Desmond at +1 602 282 6300 or dennis.desmond@am.jll.com.

 

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