AZBigMedia
JLL Q4 Phoenix Industrial Report Highlights:
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– 2017 recorded the largest annual net absorption gains in Phoenix history.
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– This marks the fourth consecutive year of annual net absorption totaling 6-million square feet or more, not seen since 2004-2007.
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– Total vacancy fell to 7.6 percent, the lowest rate in 10 years.
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– Asking rates increased 4.2 percent year-over-year, with no signs of growth slowing in the near future.
In 2017, the Phoenix industrial market achieved its largest annual net absorption gain in market history, reaching 9.8 million square feet by year end and marking the fourth consecutive year of annual net absorption totaling 6.0 million square feet or more – a feat not reached since 2004 to 2007 – according to the Q4 2017 JLL Phoenix Industrial Market Insight report.
