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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)   2,659,803

Phoenix has a long unsung history in high-tech manufacturing, with blue chip corporations such as Honeywell, Motorola, Boeing and Intel housing significant engineering and production facilities in the Valley of the Sun. This industry is currently experiencing a renaissance with major corporate relocations and expansions under construction. Corporations can tap into graduates from Arizona State University's MBA in supply chain and logistics (ranked third in the nation), while there is a large pool of highly skilled manufacturing and distribution workers trained by top-notch companies, which also include General Dynamics and Northrop Grumman.



Phoenix Office Market Report
2Q19
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Phoenix Industrial Market Report
1Q19
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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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