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Phoenix Office Demand Climbs to a Decade High

Market Video: Tech and Finance Firms Fuel Leasing Activity in Phoenix
By Jessica Morin
CoStar Analytics
January 24, 2020 | 5:29 P.M.

Phoenix recorded the best year for office demand in over a decade, with just under 4 million square feet of net absorption in 2019. Tech and finance firms drove office activity during the year. Strong demand and conservative levels of new supply compressed vacancies to the lowest level since 2007.

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