Phoenix is officially one ofthe top tech markets in the nation for office leases. According toa list of the markets with top tech-company office leasing activityfrom CBRE, Phoenix is ranked fourth in the nationfor its share of the technology leasing, with a total of 1.3million square feet in tech leasing deals in 2019. San Francisco,Manhattan and Seattle took the top three spots on the list.

"Tech companies are attracted to Phoenix for many of the samereasons that have prompted many firms across all sectors to openoperations and/or expand their presence within the Valley,"Kevin Calihan, EVP at CBRE, tells GlobeSt.com."Companies of all sorts are attracted to Phoenix's growing,affordable, and increasingly educated work force, favorablebusiness environment and high quality of life."

This is a notable ranking for the secondary market, which hasseen a recent surge in population and job growth. The top threemarkets on the list are all major tech hubs and more mature officemarkets. "Phoenix claiming five of the top 100 tech leases in theU.S. foreshadows continued healthy growth throughout metroPhoenix," says Calihan. "Four out of the five leases were bycompanies growing their footprints significantly in Arizona. Ascompanies become familiar with the market and its labor and chooseto grow their businesses here, Phoenix will become less reliant onnew-to-market companies."