Tucson Office Figures Q3 2026

Market conditions improved in Q3 2026 as occupancy strengthened. Vacancy and availability both declined quarter-over-quarter and year-over-year, while net absorption totaled 7,600 sq. ft. for the quarter and 172,000 sq. ft. year-to-date. Average asking rents edged up 0.9% but remain below their prior peak. No space is under construction and no new deliveries occurred during Q3 2026.

The third quarter showed signs of building momentum after a prolonged soft stretch. Net absorption was positive, which pulled vacancy and availability lower and gave landlords modest room to push rents. With no new product under construction, conditions are positioned to keep improving.