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Phoenix Q2 office sales volume doubles Y-o-Y

Posted by   /  August 10, 2017  /  No Comments

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Renaissance Square comprises of two office towers and retail space in downtown Phoenix near Central Avenue and Adams Street. /Photo courtesy of Hines

By Ioana Neamt for COMMERCIALCafé

The Phoenix office market was an attractive scene for investors during the second quarter of 2017, with 20 notable deals closed for a total of $513M. The average price/SF for office buildings trading on the market is holding steady, roughly on par with the average of the past five years, according to in-depth Yardi Matrix data.

Overall, the market saw significant improvement compared to both Q2 2016 and the first three months of 2017, a sign that buyer interest is strong and investment opportunities in the area are plentiful.

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