Phoenix Well Positioned for More Industrial Warehouse Growth

25% of industrial warehouses are over 50 years old and don’t have the amenities todays tenants are looking for

A recent survey from CBRE says that markets with the youngest average warehouse age tend to be those with relatively available, affordable land and within an ideal distribution radius of large population centers. Phoenix has the second-newest warehouse inventory in the U.S., with an average building age of 33 years. 16 percent of the towns industrial space, or 40.2 million square feet, was delivered within the last 10 years.

“Phoenix has added millions of square feet of the modern facilities that e-commerce companies and retail distributors covet,” said CBRE’s John Werstler “Phoenix is well positioned to continue to be a market that will see high industrial demand due to the age and functionality of the existing inventory along with the large pipeline of product coming to the market. Many of the competing markets are either land constrained or have barriers to entry that discourage industrial building.”