IRR-Phoenix Mid-Year Viewpoint 2015 Local Market Report - Office
The Phoenix market is slowly recovering with certain submarkets seeing new construction, notably Tempe and Chandler. The most notable project is an approximately 1,000,000 SF property on the banks of Tempe Town Lake, which will serve as the regional headquarters for State Farm Insurance. Rents are currently too low for new construction of spec office properties in downtown Phoenix. More job growth will be required for a return to stabilization.
Download the full version PDF of this Local Market Report below to see the charts, graphs, and tables not included above.
IRR Mid-Year Viewpoint 2015 comprises a National Overview report and 300+ two-page Local Market Reports for all key property types as well as additional resources, including metrics methodology, graphs, and tables; these free reports may be downloaded from IRR’s site here.