Chandler Edition - April 2020

CHANDLER EDITION

VOLUME 1, ISSUE 9  APRIL 30MAY 27, 2020

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Businesses, schools and residents nd ways to persevere during coronavirus pandemic

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Chandler’s oce space growth The city has more oce space than ever before and is maintaining a relatively low vacancy rate. Total percent vacant

In 20 years, the amount of oce space available in Chandler has nearly tripled. Even with signicant growth in square footage, the city saw its lowest vacancy rate since 2006 in 2019. Chandler Economic Development Director Micah Despite square footage increase, city’s oce space vacancy shrinks BY ALEXA D’ANGELO

Miranda said the city has a “healthy” level of oce space, something he and other Chandler ocials hope to maintain in the coming years as the city nears build-out. “Looking back over 10 years, our peak vacancy rate was 24% in 2010,” Miranda said. “There was a lot of space available for lease, which isn’t really good. You don’t want to have an oversupply—it raises ques- tions about fundamental issues in the community. Contrast that to the end of 2019, we were at 9.9% vacancy. Over 10 years, we are ticking down like 2% a year—that’s a good thing. But simultaneously, we are CONTINUED ON 14 Miranda

5.4%

1999 2009 2019 1999 2009 2019

23.3%

9.9%

Total square footage

2.35 million

7.87 million

11.73 million

SOURCES: COSTAR, CITY OF CHANDLER COMMUNITY IMPACT NEWSPAPER

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