(Disclosure: Rose Law Group represents Haydon Building Corp.)
By Lucia Morosanu | Commercial Property Executive
Phoenix has grown into an attractive alternative to the neighboring, pricier cities for many companies thanks to its business-friendly environment and plenty of space available for development. Almost 1.5 million square feet of new office space—across eight projects—came online in the first quarter of 2021, according to CommercialEdge data.
As of March, roughly 3.2 million square feet of office space was under construction across 16 properties. A significant percentage of new supply is taken up by medical office space, with the metro attracting a lot of interest from the health-care, biosciences and life sciences industries. Except for one of the largest developments underway, every project on our list is slated for delivery by year-end. The table below highlights the most significant developments under construction in the metro.