By
Philip Haldiman, Editor-in-Chief | Dealmaker
Phoenix had the fourth highest office vacancy rate in the country last year, a Cushman & Wakefield report said.
Overall office vacancy increased from 21.2 percent in 2013 to 21.9 in 2014.
The following cities have higher vacancies: Las Vegas, Colorado Springs and Cincinnati. The national rate is 14.5 percent.
The report stated that metro Phoenix gained 54,700 jobs year-over-year through November, according to the Arizona Department of Administration, for a job growth rate of 2.5 percent, with only the construction sector losing jobs.
However, the report also stated that the market is expected to get better in 2015.
For more details about the report, visit Cushman & Wakefield.
