Tempe is one of the top tech markets for office rent growth. According to CBRE’s Tech 30 report, Tempe office rents increased by 15.8% in the last two years—from quarter two 2016 to quarter two 2018—thanks to tech tenant activity. Phoenix’s tech industry hub, Tempe is ranked fifth in the country for tech market office rent growth, behind Cambridge, Midtown Atlanta, South Orange County and Reston Washington DC. Supply shortages in Tempe are largely behind the significant rent gains, even with new speculative office construction activity.

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