After office investment plummeted in 2020, the first half of 2021 showed Phoenix was approaching the volume of office investment the market saw before the pandemic hit. According to data from the CBRE team of Barry Gabel, Chris Markidon, and Will Mast in the first year of the six months of 2021, the Phoenix market recorded office revenue of $ 947.93 million, compared to $ 576.92 million in the first half of 2020. The team tracks office sales of more than $ 1 million and more than 20,000 square feet of total in 2019, both lower than the same point, the data suggests that investor interest is after a break returns to Phoenix in 2020 during the pandemic. In the first half of 2021, the team tracked 56 office sales in the Valley. There were 47 and 63 in 2020 and 2019, respectively. Another indicator, according to Marchildon, is investor interest in buildings sold in the biggest deals. So far in 2021 there have been two office transactions for $ 100 million. There were no office sales over $ 100 million in 2020 and 2019 at the same time. Read more about this story in the Business Journal.
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