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All the major commercial real estate brokerage firms are releasing their second-quarter statistics. Despite prevalent upbeat reports about Phoenix’s real estate market, one statistic gives cause for concern: Vacancies are up dramatically in the suburban office market. According to the second-quarter “Korpacz Real Estate Investor Survey” released by PricewaterhouseCoopers, “suburban Phoenix recorded a vacancy increase of 210 basis points from year-end 2006 (12.2 percent) to the first quarter of 2007 (14.3 percent), the highest quarterly increase of any U.S. suburban office market during that period.”   More…

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