Office vacancies in Phoenix area still among highest in nation

By Russ Wiles | The Republic

“Robust” demand will help drive down vacancies for office properties around the Valley this year, according to a report.

“Sizable job creation, record-low vacancy, rising rents and higher yields” are attracting investors to office buildings in the Phoenix metro area, says the report from Marcus & Millichap. Nevertheless, the study pegs vacancies in the Phoenix area still among the highest in the nation, helping to explain why Phoenix dropped one spot, to 26th place, among 46 metro areas analyzed for office-investment potential.

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March 19, 2017

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