By Roland Murphy for AZBEX
Commercial Café’s February Office Market Report shows the sector continues to deliver stable, if unenthusiastic, performance results for the Phoenix metro area.
Listing rates in Phoenix were recorded at $29.83/SF, a 4.5% increase from February 2025. Vacancies dipped by 170 basis points, settling at a still stubborn 17.0%.
Office sales year-to-date total $260M with an average price/SF of $160.
In terms of space under construction, Phoenix is tenth from the bottom for the 23 cities tracked, reporting a total of 430KSF.
Nationally, the average listing rate was $32.79, down 1.9% year-over-year. U.S. Office vacancy stands at 17.6%, down 200 bps.
The average national year-to-date sale price is $218/SF, and there are 28.24MSF under construction.