November 21, 2024 9:19 pm
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Phoenix metro boasts hot industrial market

By Victoria Harker | Chamber Business News

In a welcome signal for the Phoenix region’s economic recovery, industrial development projects will continue to heat up over the next year and beyond with the hottest market in the West Valley, leading experts told the real estate community Friday.

While retail construction is down because of COVID-19, a large consumer shift to e-commerce shopping has revved up demand for warehouses, distribution centers, manufacturing facilities, data centers, and more, they said at a virtual “breakfast” meeting of the nonprofit Valley Partnership, the voice of the real estate industry in the region.

Phoenix metro is benefiting greatly from the high demand, they said. One reason is its optimal location. About 35 million consumers live within one day’s driving time of the Valley.

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