Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-Leasing activity in the office market here slowed during the first quarter, with net absorption of institutional-grade office space at 76,000 square feet after totaling more than 1.1 million square feet in the last three months of 2012, according to a report from Colliers International. Still, despite the drop-off in the first few months of the year, net absorption is expected to accelerate in the coming quarters.

The anticipated activity is fueled by local employers making significant additions to payrolls, as GlobeSt.com has reported on in other markets. Greater Phoenix has been one of the fastest-expanding employment markets in the country for more than a year, ending 2012 adding nearly 50,000 jobs, the report states. This represented the seventh highest total of new jobs in the country in 2012.

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.