MARKET TRENDS

• Leasing activity continues to climb and ended the quarter at 15 million square feet (msf) up 29.48 from just under 12 msf reported a year ago.
• Rents have remained relatively flat, with Scottsdale South and Camelback Corridor commanding the highest rates at $36.83 per square foot (psf) and $35.50 psf, respectively.
• With so much high-quality space on the market, including built-out sublease offerings, occupiers have a great opportunity to secure premium space at affordable rates.

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