AZBigMedia
The Phoenix industrial real estate market remained steadfast and unwavering during the third quarter, producing strong activity yet again and reflecting the consistent demand this industrial market has shown cycle after cycle, according to Kidder Mathews’ latest market report for the Phoenix commercial real estate industrial market.
Leasing activity continues to be strong and the volume of sales transactions more than doubled compared to this time last year. Furthermore, the development pipeline has hit a post-recession record high with approximately 6.9 million square feet currently under construction, which the market hasn’t experienced since 2007. With relatively few barriers to development and positive economic and demographic trends, Phoenix has emerged as one of the fastest growing industrial markets in the nation and we expect the market to finish the year out strong.
