In Quarter 4 of 2019 there was a total of 22,845,981 vacant available in the Phoenix market. The 4 &5 star properties represented a 13.7% vacancy rate compared to 11.7% for the greater Phoenix office market. In Q4 2019 there has been Net Deliveries of 934,752 SF to the market bringing the total existing inventory to 191 million square feet. Average asking rates are $25.67/sf up 3% from one year ago.