{"id":1004589039,"date":"2022-07-08T02:24:34","date_gmt":"2022-07-08T10:24:34","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004589039"},"modified":"2022-12-08T16:51:11","modified_gmt":"2022-12-09T00:51:11","slug":"more-office-construction-underway-in-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/more-office-construction-underway-in-phoenix\/","title":{"rendered":"Phoenix Office Pipeline Picks Up the Pace"},"content":{"rendered":"

\"\"<\/a>Nearly 1.8 million square feet of office space was underway in Phoenix as of May, representing 1.3 percent of stock, according to CommercialEdge<\/strong> data. The office pipeline exceeded the one recorded a year ago, when total space reached a little over 1.5 million square feet. The national office pipeline, amounting to more than 151 million square feet as of May, represented 2.2 percent of total stock.<\/p>\n

However, a multitude of projects stand in line to enter the Greater Phoenix\u2019s office pipeline; some 10.5 million square feet are in the planning stages, while prospective developments amount to roughly 32 million square feet.<\/p>\n

\n

READ ALSO:<\/strong> How Designers Put Natural Materials to Work in the Office<\/a><\/p>\n

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One of the metro’s largest future developments is Vision 2, a 161-acre, mixed-use project in Glendale that would encompass office, retail and commercial space, as well as hospitality units and high-density housing. At the end of May, the city’s planning commission approved the application to rezone the development site from agricultural to mix of uses including Class A office, medical services, research and development, hotels and regional shopping, among others.<\/p>\n

Redevelopments are also part of the Valley\u2019s office construction mix. Ironline Partners<\/strong> unveiled plans to transform the former Phoenix Financial Center to feature a $100 million, 335-unit multifamily component and extensive resident amenities. The 18-story tower would include some 200,000 square feet of office space.<\/p>\n

CommercialEdge<\/a> 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":"

Planned and in-progress projects are on the rise, 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-1004589039","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 Office Pipeline Picks Up the Pace - CPE<\/title>\n<meta name=\"description\" content=\"Office construction reached 1.8 million square feet in Greater Phoenix as of May, representing 1.3 percent of stock.\" \/>\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\/more-office-construction-underway-in-phoenix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Office Pipeline Picks Up the Pace\" \/>\n<meta property=\"og:description\" content=\"Office construction reached 1.8 million square feet in Greater Phoenix as of May, representing 1.3 percent of stock.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/more-office-construction-underway-in-phoenix\/\" \/>\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=\"2022-07-08T10:24:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:51:11+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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/more-office-construction-underway-in-phoenix\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/more-office-construction-underway-in-phoenix\/\",\"name\":\"Phoenix Office Pipeline Picks Up the Pace - 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