By David McGlothlin | AZBigMedia
Anybody who has managed construction of a new office building or the renovation of an existing one can attest to the challenges that come with it, which can cost serious time and money if not properly addressed.
At the end of 2017, Colliers International reported year-to-date office completion in Metro Phoenix totaled over 2.1-million square feet and net absorption accounted for 1.6-million square feet. This year, net absorption is expected to increase to 2.5-million square feet. Overall, the Metro Phoenix office market experienced its seventh consecutive year of declining vacancy, which bodes well for future demand for office space.