Phoenix Retail Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , , , Cushman & Wakefield, , , Colliers
Quarterly retail market indicators for Phoenix, aggregated by CREhunt from , , , Cushman & Wakefield, , , Colliers. As of Q1 2026, average asking rent was $20.76/SF.
Projected current retail pricing — Phoenix
Projected asking rent
$19.00/SF/yr
Estimated sale value
$187–$236/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 6.3%, asking rent held flat). Assumes ~95% occupancy and a 65–82% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $20.76/SF | — | 318K SF | — | |
| Q1 2026 | $33.60/SF | 7.8% | 12.0M SF | — | |
| Q1 2026 | $35.00/SF | 4.5% | 0K SF | — | |
| Q1 2026 | $19.00/SF | 3.2% | 0K SF | — | Cushman & Wakefield |
| Q1 2026 | $18.36/SF | 5.0% | 510K SF | — | |
| Q4 2025 | $26.35/SF | 4.7% | — | — | |
| Q3 2022 | — | 3.7% | 85.0M SF | — | Colliers |
Frequently asked questions
- What is the average asking rent for retail space in Phoenix?
- As of Q1 2026, the average asking rent for retail space in Phoenix was $20.76/SF.
- What is the retail vacancy rate in Phoenix?
- Vacancy data for Phoenix retail is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does CREhunt's Phoenix market data come from?
- This report aggregates quarterly retail market data for Phoenix from Cushman & Wakefield, Colliers.
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