Phoenix's medical office market remains healthy despite atemporary downturn in sales activity due to the COVID-19outbreak.
The market added 244,956 square feet of inventory in the secondquarter, with a vacancy of only 18 percent within those projects,according to a survey by Colliers International. That was the mostnew supply since 2017.
Net absorption was 192,001 square feet in second quarter.Colliers said that was the second consecutive quarter of positivenet absorption and highest since Q4 2018. The Glendale submarketwas one of the primary drivers of positive net absorption, led byMaricopa Integrated Health Systems' move into its newly constructed127,000-square-foot building.
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Scott Graham
Scott Graham focuses on intellectual property and the U.S. Court of Appeals for the Federal Circuit. He writes ALM's Skilled in the Art IP briefing. Contact him at [email protected].
