Downtown Phoenix

August 5, 2019 Comments Off on Q2 Phoenix Office: Job Creation Supports Positive Absorption Views: 441 National News, Phoenix & Southwest News, Southwest

Q2 Phoenix Office: Job Creation Supports Positive Absorption

Order Reprints...

The Greater Phoenix area continues leading the country in job creation. And, according to reports from brokerages throughout the region, that job creation means more office space leased in Q2 2020. Colliers International, speaking to absorption, pointed out that “employers continue to add workers at a very active pace, fueling tenant demand for office space and fueling new development.”

Speaking of development, JLL focused on a continual construction pipeline, and net absorption which, over the past six months “exceeded the last peak achieved in 2016.” Meanwhile, NKF analysts focused on average rent increases, along with decreasing vacancies.

JLL’s forecast is for a continuation of the current trend, well into 2020. Meanwhile, the Colliers report noted that vacancy is anticipated to move higher in the remainder of the year, “as some spec development projects come online with vacant space.”

Connect With Colliers Arizona

Connect With JLL’s Phoenix Office

Connect With NKF’s Phoenix Office

Subscribe to Connect Daily National

For comments, questions or concerns, please contact Amy Sorter

Tags: ,

Comments are closed.

Send this to a friend