EV office construction upbeat
October 12th, 2007, 5:11 pm · Post a Comment · posted by mistywilliams
The Valley’s office market is continuing to chug along, despite the housing market slump.
Some 3.6 million square feet of new office space will be completed throughout the Valley this year — the most since 2001 when 4.5 million square feet was delivered, according to a new report from commercial brokerage CB Richard Ellis.
And nearly half of the 3.55 million square feet of space currently under construction is located in three areas: the Scottsdale Airpark, Phoenix Sky Harbor and Glendale, the report shows.
In addition to Scottsdale, activity is bustling in other areas of the southeast Valley. Hot spots lie along the loops 101 and 202 in Chandler and Gilbert. The southeast currently has 890,793 square feet of office space under construction.
