Signs of the times: Amazon has top office lease

By Mike Sunnucks | Rose Law Group Reporter (Nasdaq: AMZN) had the largest office lease in the Phoenix metro area during the first quarter.

That is according to new data from Lee & Associates Commercial Real Estate Services.

Amazon leased 90,000 square feet in Tempe at the new 100 Mill building being developed at 100 South Mill Avenue.

Amazon already has office and technology operations in Tempe as well as big distribution centers in Goodyear and Phoenix.

The e-commerce giant has continued with deliveries even as many other retailers and small businesses have been shut down by COVID-19.

The pandemic has slowed down leasing activity in the Phoenix market and nationally. The Valley saw 310,280 square feet of absorption during the 1st quarter. That compares to 1,192,386 square feet leased in the fourth quarter.

You can see the full report here.

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