Phoenix is officially one of the top tech markets in the nation for office leases. According to a list of the markets with top tech-company office leasing activity from CBRE, Phoenix is ranked fourth in the nation for its share of the technology leasing, with a total of 1.3 million 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 same reasons that have prompted many firms across all sectors to open operations and/or expand their presence within the Valley,” Kevin Calihan, EVP at CBRE, tells “Companies of all sorts are attracted to Phoenix’s growing, affordable, and increasingly educated work force, favorable business environment and high quality of life.”

This is a notable ranking for the secondary market, which has seen a recent surge in population and job growth. The top three markets on the list are all major tech hubs and more mature office markets. “Phoenix claiming five of the top 100 tech leases in the U.S. foreshadows continued healthy growth throughout metro Phoenix,” says Calihan. “Four out of the five leases were by companies growing their footprints significantly in Arizona. As companies become familiar with the market and its labor and choose to grow their businesses here, Phoenix will become less reliant on new-to-market companies.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author


Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.