Mike Sunnucks | Phoenix Business Journal
There’s plenty of positive indicators when it comes to the Phoenix commercial real estate market and office space.
The commercial real estate firm JLL (NYSE: JLL) projects 2017 will be another year with 2 million square feet of absorption (i.e. net leasing).
The Class A office vacancy rate is as low as 6 percent in parts of Scottsdale, 7.5 percent in Tempe, 12 percent near Phoenix Sky Harbor International Airprot and 15.6 percent in downtown Phoenix.
But overall, the office vacancy rate in the Phoenix region is still right around 20 percent.
JLL pegs it at 19.6 percent for the second quarter.
