Phoenix offices making biggest gains since 2006

OfficeBy AZRE

A Cushman & Wakefield report showed the Metro Phoenix office market posted the largest midyear net gain since 2006, with just over 1 million square feet during second quarter 2016.

At the 2016 midyear point, office vacancy in the Metro Phoenix office market stood at 18.0 percent, a 20-basis-point reduction from first quarter 2016, and an even more significant drop of 130 basis-point from the 19.3 percent reading of Q2 2015.

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