Retail construction reaches highest level since 2009 in Phoenix metro

By Steven Totten | Phoenix Business Journal

Retail construction in 2016 in the Phoenix metro reached the highest level since 2009, according to a new study by CBRE Research.

The real estate firm found that in 2016, completed construction on retail brick-and-mortars reached more than 1.3 million square feet, outpacing construction from 2010 to 2015.

The CBRE (NYSE: CBG) research team pointed out the fact that much of the completed construction was pre-leased, easing developer’s minds and keeping supply and demand in check.

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January 12, 2017

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