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Tucson Office Figures Q1 2023

April 11, 2023 5 Minute Read

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  • The direct average asking full-service gross lease rate declined to $22.74 in Q1 2023, a 1.9% quarter-over-quarter change
  • While the market had 40,005 sq. ft. of leasing activity, there were more vacates resulting in 79,963 sq. ft. of negative net absorption
  • Vacancy increased by 80 basis points quarter-over-quarter to 14.7%