Phoenix ends run of positive office absorption

By AZRE | AZ Big Media

The Phoenix office market has experienced its first quarter of occupancy loss in eight years, according to the newly released Q2 2020 Office Insight Report from the Phoenix office of JLL. However, the market continues to maintain positive long-term viability thanks to a diverse workforce, affordability and continued population growth.

According to the JLL report, the Phoenix market received 450,000 square feet of new sublease space during the second quarter, bringing the total amount of available sublease space in the Valley to more than 1 million square feet.

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