Phoenix 2018 Effective Rent Index

TAKING RENT SPIKES, BUT PEAK MAY BE APPROACHING

Takeaway

Despite clear signs that hiring activity in the region was cooling, activity in top-tier Class A buildings was relatively sustained during 2017. Landlords were bullish as negligible new construction and steady leasing kept availability in Class A properties within Chandler, Tempe, Scottsdale and Downtown tight. Tenants are likely to face more modest rent increases during 2018 as hiring and leasing appear to have decelerated.

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