Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Tempe is one of the top tech markets for office rent growth. According to CBRE’s Tech 30 report, Tempe office rents increased by 15.8% in the last two years—from quarter two 2016 to quarter two 2018—thanks to tech tenant activity. Phoenix’s tech industry hub, Tempe is ranked fifth in the country for tech market office rent growth, behind Cambridge, Midtown Atlanta, South Orange County and Reston Washington DC. Supply shortages in Tempe are largely behind the significant rent gains, even with new speculative office construction activity.

“Demand is still outpacing supply,” Kevin Calihan, EVP at CBRE, tells GlobeSt.com. “Tempe is a relatively small existing market, although it has been expanding over the past couple of years with new construction. We continue to have more demand than we do supply. Tenants are looking for spaces in the highly desirable locations of North Tempe, close to Tempe Town Lake and Downtown Tempe with walkable amenities and proximity to light rail.”

Kelsi Maree Borland

Kelsi Borland is a freelance writer and editor living whose work has appeared in such publications as Travel + Leisure, Angeleno and Riviera Orange County.

More from this author

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.