• The Phoenix retail market vacancy rate increased 10 basis points quarter-over-quarter settling at 7.9%
  • At the close of the quarter the average asking rents were $16.95 PSF
  • There is currently 686,085 sq. ft. of retail space under construction
  • During the 2nd quarter, there was negative net absorption totaling 52,070 sq. ft. bringing YTD net absorption to 254,091 sq. ft.