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Phoenix Industrial Market Stays Hot
Phoenix continues to surge in the industrial real estate market when it comes to new deliveries and rental rates. While sales volume slowed, it’s still robust. A recent Kidder Mathews research study indicated that the industrial market continues to remain near the nation’s top.
MARKET HIGHLIGHTS
· NEW DELIVERIES soared to a record high of 13 million square feet.
· RENTAL RATES jumped to a record $1.04 PSF NNN.
· SALES VOLUME fell QOQ and YOY to 4.8 million square feet.
· Phoenix remains in high demand for logistics, e-commerce and manufacturing users looking for mega warehouse space. This is especially apparent with the migration of companies leaving nearby markets in CA. This trend will continue into the coming years, helping Phoenix to stay at the top of the industrial ranks among the nation.
- ◦Development
- ◦Economy
