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10/17/09
Office vacancy rates in Valley hit record
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:23 pm

At no time in the Phoenix area’s history has so much office space sat empty.

Nearly 1 out of every 4 square feet of Valley office space was vacant in the third quarter ending Sept. 30, commercial-real-estate experts said.

That’s about 28 million square feet of empty space, according to Phoenix commercial-realty brokerage Colliers International, one of several Valley firms tracking the progress of sales and the leasing of office, industrial and retail buildings.   more…



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