by Alyxandria Carter | Oct 30, 2024
Phoenix’s office market has seen a steady rise in vacancy rates, reaching 16.8% in Q3 2024, up from 11.1% pre-pandemic. This increase is driven by ongoing space reductions and a slowdown in office-using job growth, resulting in negative net absorption with over...
by Alyxandria Carter | Jul 31, 2024
In Q2 2024, office vacancy rates in Phoenix have risen significantly, with an increase of over 500 basis points since Q4 2019. The trend is expected to continue as pre-pandemic leases expire, with over 4 million square feet vacated since COVID-19, particularly in...
by Alyxandria Carter | Feb 5, 2024
Into the last quarter of 2023, the impact of pandemic-induced shifts in demand continues to cast uncertainty over the market. Despite being more than four years removed from the onset of COVID-19, tenants continue to reevaluate the efficiency and size of their office...
by Alyxandria Carter | Feb 1, 2024
SVN® Internation Corp. presents The Transforming Office, a report prepared by Director of Research, Cameron Williams. As downtown office vacancies continue to rise, the modern workplace undergoes a transformative shift, challenging the conventional use of office...
by Alyxandria Carter | Nov 6, 2023
Phoenix saw the addition of another -626,861 SF of net vacant office space to the market in 23Q3 as tepid demand and broad-based economic uncertainty continued to pressure the sector. Total empty space has climbed nearly 50% since the end of 2019, driving the...
