Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX—When it came to leasing trends in the office sector, Lee & Associates' thirdquarter market report offered divided news. On the one hand, absorption was close to 725,000 square feet; the first time the region has seen back-to-back positive quarterly absorption in years—but vacancies continue hovering above 25%.

Lee & Associates' Craig Coppola and Andrew Cheney tell Real Estate Forum that the upward-ticking absorption trend is good news, at least when looking at the big picture. “I started leasing space in 1984 and never saw the absorption figure go below one million square feet, net,” Coppola explains. “Then came 2008, negative absorption and all of the sudden the dynamics changed. We saw leasing demand going negative three years in a row.”

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?


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 © 2021 ALM Media Properties, LLC. All Rights Reserved.