Tag Archives: data

Phoenix 1Q14 Office Snapshot


The Metro Phoenix office sector continues to improve as the New Year gets underway. With vacancy rates continuing to decline and rental rates steadily increasing, the outlook is positive for a stable 2014 for the sector as it transitions out of the recession. New product deliveries and construction also increased in the first quarter of the year, with 272,710 SF being delivered and over 1.9 million SF in the pipeline.


Vacancy rates for the first quarter of 2014 dropped significantly, coming in at 18.7% overall, down from 19.4% at the end of 2013. Vacancy has seen great strides in the last year; in Q1 2013 the vacancy rate sat at 20.5% overall for the office sector. Vacancies also seem to be leveling between product types; when tenants could no longer afford their high-end spaces, vacancy rates increased dramatically for Class A space, and then began to readjust as those products became more affordable in the last two years and tenants were able to upgrade. At the beginning of 2011, the difference in vacancy percentage between Class A and Class C was hovering around 8%, while now they are almost identical. This will begin to level the playing field for all product types instead of the focused activity in higher end space.

Read more by downloading the full report.

Q4 2013 – NAI Horizon Retail Market Report

The final quarter of 2013 continued to show positive retail market results. The sector saw drops in vacancy, gains in properties sold and demand for retail space increase throughout the fourth quarter. With small amounts of new construction in the works, retail market fundamentals are still geared for strong continued growth in leasing velocity, absorption and rental rates.

During the final quarter of 2013, vacancy fell to 10.4% from 10.6% in the third quarter, which is the lowest rate seen since the first quarter of 2009. With unemployment continuing to fall, there is promise for those in the work force, and in turn, consumerism for the retail market. For the calendar 2013 year, vacancy percentages were at 10.8%, a decrease from last year’s vacancy rate at 11.3%, indicating an upswing in occupancy for retail space.

Read more in the full report by clicking the image below: