Medical Office The West Valley’s medical office footprint accounts for 33.1% of the metro’s total inventory with 9.2 million sq. ft. Strong demographics in the West Valley, supported by robust population growth and housing starts continue to fuel demand for medical office space. This is evident by the West Valley’s vacancy rate, which is 250 basis points below (bps) the Phoenix metro average. Roughly 100,000 sq. ft. of new medical office product was completed in 2024, headlined by Buckeye Medical Plaza.
Total Inventory (SF) 9,152,837
Vacancy Rate 12.9%
Asking Rent (FSG/Annual)
New Supply (SF) 100,000 WEST VALLEY
$24.19
WEST VALLEY
WEST VALLEY
WEST VALLEY
27,686,395 PHOENIX METRO
15.4%
$25.47
240,136
PHOENIX METRO
PHOENIX METRO
PHOENIX METRO
27
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