AZBEX
The vacancy rate has declined to 20.1 percent, compared with 22.0 percent reported at the end of Q2 2014 and 23.9 percent two years ago.
Full service average asking lease rates for the market continue to rise with Valleywide rates closing Q2 2015 at $22.06/sf, compared to $21.74/sf in the previous quarter and $21.16/sf at the end of Q2 2014.
Three new speculative office buildings were delivered to the market in the second quarter totaling 397KSF and one speculative office building broke ground totaling 134KSF.
