May 19, 2024 11:26 am
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Retail leasing gains strength in Phoenix

Phoenix vacancy

By Brandon Brown | Phoenix Business Journal

Grocery stores and fitness centers are helping drive the Valley’s retail real estate market to a point where it is the most competitive it has ever been.

A newly released report on Phoenix’s retail market from the third quarter of 2023 by commercial real estate firm Avison Young, shows that the vacancy rate in Q3 dropped 20 basis points from 5.3% in Q2 to 5.1%. That’s the Valley’s lowest vacancy rate on record.

Read the full subscription story from the Phoenix Business Journal.

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