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Phoenix Market Reports

Phoenix Office Market

Average Asking Rent (Price/SF) $26.41
Vacancy Rate (%) 14.8%
Net Absorption (SF) 1,060,531

The U.S. Census Bureau named Maricopa the fastest-growing county in the United States for the third year straight. Over the past three years, this translates to an average of 6,563 people every month, or roughly twice the rate of other top contenders such as Clark County in Nevada, Harris County in Texas, and Riverside County in California. Moody's Analytics forecasts this growth to continue through 2023, totaling 536,040, or an 11.0%, increase in current population.

Phoenix Industrial Market

Average Asking Rent (Price/SF) $0.73
Vacancy Rate (%) 7.3%
Net Absorption (SF)  127,825

The U.S. Census Bureau named Maricopa the fastest-growing county in the United States for the third straight year. Over the past three years, this translates to an average of 6,563 people every month, or roughly twice the rate of other top contenders, such as Clark County in Nevada, Harris County in Texas, and Riverside County in California. Moody's Analytics forecasts this growth to continue through 2023, totaling 536,040, or an 11.0%, increase in current population. In terms of employment growth, Bloomberg recently announced that Phoenix led metros with a labor force greater than 1.0 million in employment growth by percentage since President Donald Trump's election in January 2017, at 8.7%.



Phoenix Office Market Report
2Q19
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Phoenix Industrial Market Report
2Q19
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Phoenix Retail Market Report
1Q19
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Local Market Contact:

Charles LeSueur

Senior Research Analyst
602.952.3856

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