According to the 2025 U.S. Investor Intentions Survey by CBRE, Phoenix has been ranked as one of the top 10 target markets for commercial real estate investors. Despite slipping three spots to #10, Phoenix is still highly recognized by investors for its pro-business environment, strong population growth, and high demand across various asset types.
The survey also revealed that Dallas remains in the top spot for investment opportunities for the fourth consecutive year, followed by Miami at second place. Boston has emerged as a new attractive market for investors and Washington D.C. and San Francisco have re-entered the top 10 list of preferred markets.
Sun Belt cities such as Atlanta, Raleigh-Durham, and Austin continue to draw interest from investors due to their potential for growth in various sectors.
CBRE’s Charlie von Arentschildt commented on Phoenix’s office market saying that there are limited opportunities available to acquire prime Class A buildings in desirable locations which leads to significant investor interest when such opportunities arise. This trend has resulted in a shift towards value-add strategies where older assets are being repositioned strategically in order to compete with limited supply of premium properties.
Overall,the recent survey highlights how Phoenix continues be an attractive destination among commercial real estate investors despite facing some competition from other emerging markets across the country.
