by Alyxandria Carter | Feb 5, 2025
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%...
by Alyxandria Carter | Feb 5, 2025
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...
by Alyxandria Carter | Feb 5, 2025
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...
