by Alyxandria Carter | May 1, 2024
The Phoenix office market is facing significant challenges, with vacancy rates steadily increasing since Q4 2019, a trend accelerated by the expiration of pre-pandemic leases and shifting tenant demand dynamics. This increase in vacancies is expected to continue as...
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 | 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...
