2017 proves to be year of growth for Phoenix industrial market

A notable 2017 industrial building delivery was a 618,350-square-foot lease signed by UPS at 16601 W. Sells St./AZRE

AZRE

Out-of-state relocations, an ongoing economic recovery and job growth were all contributing factors in lowering the Phoenix industrial vacancy rate to 9.2% while rental rates ended the second quarter at $.59, which is an increase over the previous quarter, according to DAUM’s second quarter market report.

During the quarter, net absorption for the overall Phoenix industrial market was 1.2 million square feet, which compares to positive 3.1 million square feet in the first quarter of 2017. Eleven buildings totaling more than 810,000 square feet were completed in the Phoenix market area, while new construction activity increased with 4.2 million square feet currently underway.

READ ON:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

The 10 Best Places to Live in Arizona

By Savannah Leedy | Arizona Foothills Magazine There is much to see and explore in Arizona. From the vast rock formations and abundant wildlife of the state’s parks and preserves to the award-winning resorts, world-class dining

Read More »