Office Market The Phoenix office market continues to recover gradually as improving demand and accelerating demolitions reduce vacancy. Vacancy has improved to 15.8%, down from a 2024 peak of 17.1%,
Market Snapshot This analysis compares Phoenix CoStar market data from May 2025 against the just-released June 2026 reports — a true year-over-year comparison rather than estimates. The headline finding across
Office Market The Phoenix office market continues its gradual recovery as tenant demand improves and new construction remains limited. Leasing activity has strengthened across premier submarkets including Tempe, Scottsdale, and
If you joined us for our Water, Power & Growth event in Chandler a couple weeks ago, thank you for being part of one of the most important conversations shaping
Office Market The Phoenix office market continues to stabilize as improving tenant demand combines with a sharp slowdown in new construction and increased demolition of obsolete properties. Vacancy has improved
Office Market The Phoenix office market continues to stabilize as it works through post-pandemic shifts in how space is used. Demand remains uneven, with strength concentrated in higher-quality, well-located buildings
Top 5 Reasons For and Against the Push for Data Centers in Arizona Arizona is quickly becoming one of the hottest data center markets in the country. With AI expansion,
Office Market The Phoenix office market has reached an inflection point as demand improved in 2025, pushing vacancy down slightly to 16.4% after several years of deterioration. Roughly 700,000 SF
The Projects I’m Watching Closely I get asked all the time, “What’s actually happening out there?” Short answer? A lot. Long answer? The Valley is evolving in real time. Industrial
Office Market The Phoenix office market has reached an inflection point, with vacancy declining year-over-year to 16.3% following 840,000 SF of positive net absorption in 2025. Limited new construction has
Office Market The Phoenix office market is beginning to stabilize after an extended correction. Vacancy has leveled off near the mid-16% range following multiple quarters of positive net absorption, supported
Office Market The Phoenix office market has reached a tentative turning point as vacancy edges down to 16.3% following four consecutive quarters of positive absorption. Demand has improved due to
