By Corina Vanek | Phoenix Business Journal
The Phoenix area is on track to see 17 office buildings totaling 1.69 million square feet of office space complete construction during 2018.
Phoenix ranked 16th out of the top 40 U.S. markets for office deliveries during 2018, according to a study from Commercial Café. San Francisco topped the list, with 11.09 million square feet of office space on track to complete construction this year.
Tempe was one of the top 50 destinations for office deliveries this year, ranking 26th on the list. The city had 656,331 square feet of office space expected to be constructed in 2018, a 4 percent increase from the 17,288,997 square feet of space existing in the city.
Tempe had the lowest vacancy rate — 4.8 percent at the end of the second quarter — of any submarket in the Phoenix area, according to CBRE research.
