4Q2024 Metro Phoenix Multifamily Newsletter

4Q2024 Metro Phoenix Multifamily Newsletter

Phoenix’s multifamily market showed signs of recovery in Q4 2024, with rising renter demand stabilizing occupancy rates. Net absorption reached 19,000 units, well above pre-COVID averages, driven by luxury lease-ups and a strong rebound in midpriced 3-star...
4Q2024 Metro Phoenix Office Newsletter

4Q2024 Metro Phoenix Office Newsletter

Phoenix’s office market remained under pressure in Q4 2024 as vacancy rates climbed and demand weakened. Net absorption was -1.8 million SF for the year, bringing total space vacated since 2020 to over 5.5 million SF. The vacancy rate rose to 16.8%, up from 11.6%...
4Q2024 Metro Phoenix Industrial Newsletter

4Q2024 Metro Phoenix Industrial Newsletter

The Phoenix industrial market saw rising vacancies in Q4 2024 as new supply outpaced demand. The vacancy rate hit 12.0%, up from 4.1% in mid-2022, with 34.5 million SF delivered over the past year. Despite this, tenant demand remained solid, with 15.7 million SF...
4Q2024 Metro Phoenix Retail Newsletter

4Q2024 Metro Phoenix Retail Newsletter

Q4 2024 remained strong for the Phoenix Retail market, driven by job growth and demographic expansion. However, major store closures, including 99 Cents Only and Big Lots, led to a net absorption decline of -270,000 SF. The market availability rate rose to 5.0% but...
Southwest Region 2024 Q3 Perspective

Southwest Region 2024 Q3 Perspective

Discover the latest happenings in the SVN Southwest Region Perspective! Stay informed about current trends and enticing commercial real estate opportunities in this flourishing region. Our seasoned team of professionals is dedicated to delivering valuable insights,...
3Q2024 Metro Phoenix Multifamily Newsletter

3Q2024 Metro Phoenix Multifamily Newsletter

The Phoenix multifamily market showed signs of recovery in Q3 2024, as easing inflation and rising consumer confidence boosted renter demand and household formation. Despite new supply continuing to outpace leasing, the decline in occupancy is slowing, suggesting...