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The Airport Area in Phoenix is growing rapidly. New research from JLL shows that the office vacancy rate fell 9.3% in 2018, down to 23.4%. Phoenix has experienced tremendous growth in recent years, and Tempe has become the most coveted office submarket in Phoenix. Now, the Airport Area is benefitting from that growth.

“Phoenix is growing in ways that we never thought was possible, especially since the economic downturn of 2008 and 2009,” Jennifer Farino, lead researcher in Phoenix at JLL, tells GlobeSt.com. “We have been more diverse in growing in different directions to make sure that doesn’t happen again. Investors have wanted to come in and be part of this growth and the future growth that Phoenix and the Airport submarket are going to have.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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