Tucson Office Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from CBRE
Quarterly office market indicators for Tucson, aggregated by CREhunt from CBRE. As of Q1 2026, average asking rent was $23.16/SF/yr, per CBRE.
Projected current office pricing — Tucson
Modeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Tucson office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q1 2026 multiple brokerages asking-rent data (benchmark cap rate 6.5%–8.6%, asking rent trend-adjusted to today). Assumes ~91% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 CBRE | $23.16/SF/yr | — | 2K SF | — | CBRE |
Office asking rents by submarket
The newest asking rent a named brokerage's report published for each Tucson office submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Downtown | $21.31/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| East Central | $24.51/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| North Central | $29.16/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northeast | $18.63/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northwest | $21.83/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southwest | $19.00/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
| West Central | $27.43/SF/yr CBRE · Q1 2026 | CBRE, Q1 2026 |
Frequently asked questions
- What is the average asking rent for office space in Tucson?
- As of Q1 2026, the average asking rent for office space in Tucson was $23.16/SF/yr, per CBRE.
- What is the office vacancy rate in Tucson?
- Vacancy data for Tucson office is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does CREhunt's Tucson market data come from?
- This report aggregates quarterly office market data for Tucson from CBRE.