By Dees Stribling | BisNow
The Phoenix office market slowed a bit last year, but this year has regained momentum. Marketwide vacancy in the third quarter was 15.9%, the lowest it has been since 2008, Kidder Mathews reports.
Leasing activity was nearly 2.5M SF in Q3, pointing to high levels of demand for office space spurred by a strong local economy. Currently metro Phoenix is enjoying an unemployment rate of 4.3%.