By AZBigMedia
In the first quarter of 2025, Phoenix ranked 6th among the nation’s larger office markets, with top 10 placements across several key indicators: The market recorded the 4th-largest slip in vacancy rate; added more than 330,000 square feet of office space, which represented the 4th-largest market expansion as a percent of stock; and ranked 4th for the share of loans expected to mature by the end of the year.
Caution and financially strategic investment still prevail across the U.S. office sector: While some recovery has occurred in the national market, it has not been equally distributed. Specifically, top-tier properties in key locations still significantly outperform other tiers in terms of leasing and occupancy.
