{"id":1004565393,"date":"2022-02-08T07:07:03","date_gmt":"2022-02-08T15:07:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004565393"},"modified":"2022-12-09T00:52:45","modified_gmt":"2022-12-09T08:52:45","slug":"phoenix-market-update-2021-was-solid-for-office-construction","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/","title":{"rendered":"Phoenix Market Update: Office Pipeline Posts Modest Gains"},"content":{"rendered":"

\"\"<\/a>December was a relatively calm month for Greater Phoenix in terms of office construction activity, according to CommercialEdge, with only one addition to the pipeline. More than 2.2 million square feet of office space were under construction across the metro, representing 1.7 percent of stock.<\/p>\n

The Valley\u2019s only office project that kicked off in December was health-care related. Irgens<\/strong> broke ground on Desert Harbor Medical Commons, a 43,873-square-foot medical office development in Peoria. The two-story building is taking shape at 9000 W. Thunderbird Road, some 2 miles from Banner Boswell Medical Center. Completion is slated for September 2022.<\/p>\n

A year in review<\/h2>\n

December capped a slow and stable year of office developments underway across the metro, with some 952,000 square feet, or 43.2 percent of the total, added to the pipeline since January. Most projects will add traditional office space to The Valley\u2019s inventory<\/a>, which grew by 2.2 million square feet in 2021.<\/p>\n

Last year\u2019s largest new office development pertains to a RED Development<\/strong> mixed-use project in Phoenix. The developer started construction on the three-building, 281,480-square-foot office component of The Grove<\/a>, a 15-acre property that will also include a self storage facility, luxury multifamily building and hotel. Phase I is slated for completion in the second half of 2022, with the hotel portion opening in the fall of 2023.<\/p>\n

Also in 2021, the metro and the state saw an absolute first. A partnership led by Mortenson<\/strong> broke ground on The Beam on Farmer<\/a>, Arizona\u2019s first office building to feature a cross-laminated timber (CLT) primary structural system. The 184,000-square-foot project taking shape in Tempe has an estimated May 2022 delivery date.<\/p>\n

CommercialEdge covers 8M+ property records in the United States. View the latest CommercialEdge national monthly office report here<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

More than 2.2 million square feet were underway in December, according to CommercialEdge.<\/p>\n","protected":false},"author":870,"featured_media":1004545005,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,21747,1601,15],"tags":[51047,50674],"class_list":["post-1004565393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-office","category-phoenix","category-west","tag-marketupdate","tag-commercialedge"],"acf":[],"yoast_head":"\nPhoenix Market Update: Office Pipeline Posts Modest Gains - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Market Update: Office Pipeline Posts Modest Gains\" \/>\n<meta property=\"og:description\" content=\"More than 2.2 million square feet were underway in December, according to CommercialEdge.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-08T15:07:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:52:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"930\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/\"},\"author\":{\"name\":\"Adriana Marinescu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"headline\":\"Phoenix Market Update: Office Pipeline Posts Modest Gains\",\"datePublished\":\"2022-02-08T15:07:03+00:00\",\"dateModified\":\"2022-12-09T08:52:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/\"},\"wordCount\":287,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-resized.jpg\",\"keywords\":[\"#MarketUpdate\",\"CommercialEdge\"],\"articleSection\":[\"Development\",\"News\",\"Office\",\"Phoenix\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/\",\"name\":\"Phoenix Market Update: Office Pipeline Posts Modest Gains - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-resized.jpg\",\"datePublished\":\"2022-02-08T15:07:03+00:00\",\"dateModified\":\"2022-12-09T08:52:45+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-resized.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/07\\\/Market-Update-resized.jpg\",\"width\":1200,\"height\":930},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/phoenix-market-update-2021-was-solid-for-office-construction\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix Market Update: Office Pipeline Posts Modest Gains\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d8680cf55f814fe2742cf94207212af1\",\"name\":\"Adriana Marinescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g\",\"caption\":\"Adriana Marinescu\"},\"description\":\"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adriana-marinescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Phoenix Market Update: Office Pipeline Posts Modest Gains - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/","og_locale":"en_US","og_type":"article","og_title":"Phoenix Market Update: Office Pipeline Posts Modest Gains","og_description":"More than 2.2 million square feet were underway in December, according to CommercialEdge.","og_url":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-02-08T15:07:03+00:00","article_modified_time":"2022-12-09T08:52:45+00:00","og_image":[{"width":1200,"height":930,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","type":"image\/jpeg"}],"author":"Adriana Marinescu","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/"},"author":{"name":"Adriana Marinescu","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"headline":"Phoenix Market Update: Office Pipeline Posts Modest Gains","datePublished":"2022-02-08T15:07:03+00:00","dateModified":"2022-12-09T08:52:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/"},"wordCount":287,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","keywords":["#MarketUpdate","CommercialEdge"],"articleSection":["Development","News","Office","Phoenix","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/","url":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/","name":"Phoenix Market Update: Office Pipeline Posts Modest Gains - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","datePublished":"2022-02-08T15:07:03+00:00","dateModified":"2022-12-09T08:52:45+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","width":1200,"height":930},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/phoenix-market-update-2021-was-solid-for-office-construction\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Phoenix Market Update: Office Pipeline Posts Modest Gains"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d8680cf55f814fe2742cf94207212af1","name":"Adriana Marinescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2444a0eb00095b2b409c152dd217bf8709009d4718eec6c8c435940e3ea1cb67?s=96&d=mm&r=g","caption":"Adriana Marinescu"},"description":"Adriana Marinescu is an associate editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in 2019.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-marinescu\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/07\/Market-Update-resized.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004565393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/870"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004565393"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004565393\/revisions"}],"predecessor-version":[{"id":1004566725,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004565393\/revisions\/1004566725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004545005"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004565393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004565393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004565393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}