Phoenix retail market posts historic low vacancy
(Metro Creative Connection) Posted Sunday, September 10, 2023 1:00 pm Special to Independent Newsmedia The Greater Phoenix retail market vacancy le...
(Metro Creative Connection) Posted Sunday, September 10, 2023 1:00 pm Special to Independent Newsmedia The Greater Phoenix retail market vacancy level hit an historic low 4.8% at the end of June, reflecting strong tenant demand, according to a report released by Colliers in Arizona. Data from Affinity Solutions indicates Phoenix has experienced a 16.5% increase in all consumer spending since January 2020. The Colliers in Arizona press release reports that during the second quarter retail vacancy fell 40 basis points, which was a 130 basis point decrease year-over-year.