The Phoenix MSA has ranked among the top five cities in the nation for job growth since 2017 and forecasts indicate the market will add 90,000 net new jobs in 2021. The fifth largest city in the United States, Phoenix has recorded population growth to 1.7 million residents, an increase of 20 percent in the last 10 years.

According to research from CBRE, the Phoenix industrial market continued to accelerate in first quarter 2021 after a record-breaking year in 2020. Net absorption surged to 5.6 million square feet in the first quarter – the highest quarterly net absorption since fourth quarter 2013. The Southwest Valley posted the strongest gains in net absorption, totaling more than 3.7 million square feet to close the quarter. The most active industries in the first quarter were manufacturing, third-party logistics and data centers. Many of these companies are seeking out opportunities in the Southwest Valley due to its accessibility to California and the availability of labor in the area.

One of Phoenix’s newest developments is located along the Loop 303 Corridor on the northeast corner of Thomas Road and Cotton Lane. MDH Partners’ Gateway 303 is well-positioned to service last-mile logistics tenants and can also support regional distribution throughout Arizona and Southern California with its access to I‐10, the Southwest region’s primary distribution channel within Phoenix. PV303, the master-planned community, is home to corporate neighbors such as Amazon, Fairlife, Microsoft, Sub-Zero, Ferrero Rocher, REI, Dick’s Sporting Goods, UPS and Daimler.