Phoenix has worst office vacancy rate among major U.S. markets

Gary Sauer-Thompson / Flickr
Gary Sauer-Thompson / Flickr

By Mike Sunnucks | Phoenix Business Journal

Phoenix has the worst office vacancy rate among the largest 30 commercial real estate markets in the U.S.

Greater Phoenix has a 21.7 percent office vacancy rate, according to the third quarter numbers from CBRE Group Inc.

The next highest is Detroit at 21.5 percent and Atlanta at 19.7 percent.

The Phoenix office market and Arizona economy, as a whole, have been slow to recover in the post-recession economy.

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