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CBRE: Phoenix is rising
Phoenix — The metropolitan Phoenix retail market ended the third quarter with a retail vacancy rate at 10.5%, down nearly a full point from 11.3% a year ago, according to CBRE’s Phoenix Retail MarketView report for the third quarter.
The market recorded positive absorption of 385,625 sq. ft. for the quarter and so far this year has absorbed 1.1 million sq. ft.