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'Flight to Quality' Highlights 2011 Phoenix Office Market

PHOENIX-Absorption was a main story this year; numbers range from 940,000 square feet to 1.3 million square feet as tenants sought out better quality office space.

By Amy Wolff Sorter | Updated on December 21, 2011

PHOENIX-Examining various numbers for Phoenix’s office market in recent months, the trends are similar though the specific numbers differ. The trends? Absorption is up; vacancies are up and rental rates are down.

In sharing their end-of-year thoughts about the past year and offering up crystal-ball predictions for 2012, experts tell Globest.com that 2011 seemed to represent a kind of demarcation point when it came to office leasing. The division separates the terrible beating the office market took in 2009 and 2010 with the somewhat starting-to-improve situation that is going on now.

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