"Workforce has always been a huge strength for Phoenix and particularly the I-17 Corridor. Metrocenter was slower to recover, but this deal shows that there is a huge demand in Phoenix for large blocks of space and the Metrocenter submarket is still able to accommodate those users,” Brooks tells GlobeSt.com. “Our workforce and cost of doing business are making Phoenix very competitive versus other markets and this deal is a prime example of a company doubling down on Northwest Phoenix."

According to CBRE Research, Q1 2015 saw 477,901 square feet of positive net absorption of office product across the Valley. For comparison, Q1 2014 recorded 319,820 square feet of positive net absorption and Q1 2013 saw 268,500 square feet of positive net absorption. These year-over-year increases are even more substantial when compared to Q1 2012 when the Valley only recorded 959 square feet of positive net absorption.

With the office market on the upswing, Valley business and municipal leaders are excited about economic growth in the post-recession market. Progrexion's expansion demonstrates a clear commitment to metropolitan Phoenix and local leadership points to a growing, talented work force as a driver for economic growth.

“We're excited to welcome an additional 450 Progrexion employees to Phoenix,” says Phoenix mayor Greg Stanton. “This expansion shows that our growing, talented workforce is encouraging businesses to make long-term investments in our community.”