April 26, 2024 8:46 am
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Phoenix ranks among top apartment markets

By Mike Sunnucks | Phoenix Business Journal

Don’t count out the apartment wave just yet.

The Phoenix metro area ranked among the top multifamily markets for net leasing in the U.S. in the first quarter, according to new data from CBRE Group (NYSE: CBG).

New York – including Newark and Long Island — saw the most apartment absorption (or net leasing) in the first quarter with 6,400 units rented.

Phoenix was fourth with 3,300 units absorbed behind only New York, San Francisco (3,600) and Washington D.C. (3,400).

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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.