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CoStar Insight

Phoenix office sublease availabilities trending down

Relative affordability, move-in readiness support tenant appetite for space
CoStar Analytics
December 9, 2025 | 5:00 P.M.

The total amount of office space available for lease in Phoenix decreased to about 34 million square feet in the third quarter of 2025, down from more than 36 million square feet in early 2024.

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