Business Development Fara Illich May 8, 2013

Chase Tower 8In April the Downtown Phoenix Partnership calculated office vacancy rates for the 90 square blocks that represent the business core of Downtown Phoenix. In the first quarter of 2013, the area bounded by Fillmore Street on the north, Buchanan Street on the south, Seventh Street on the east and Third Avenue on the west, reported an overall office vacancy rate of 14.1 percent.Class A office vacancy for the first quarter was 12.8 pecent.
The vacancy rates for the Downtown core have remained consistent, hovering around the current totals since the third quarter of 2011.Downtown Phoenix has reported vacancy rates much lower than the rest of the Valley for years, even during the recession.In the first quarter of 2013 overall Valley vacancy stood at 19.4 percent with valley Class A vacancy at 20 percent.
The Downtown Phoenix Partnership compiles vacancy rates for the business core using data from CoStar. For more information on available space in Downtown Phoenix contact David Noble at 602-744-6408 (dnoble@downtownphx.org). For more information on Downtown visit the research portion of our website.