2020 marks best year for industrial market in Phoenix history

By Real Estate Daily News

Phoenix, Arizona – The Greater Phoenix industrial market posted its largest amount of net absorption in history during 2020. The city posted 13.9 million-square-feet of net absorption during 2020, 7.0 million of which were absorbed in fourth quarter. The surge in demand has been created by out-of-state companies entering the Arizona market, as well as increased need for industrial space due to a shift to online purchasing during the pandemic.

In addition, Greater Phoenix posted its largest delivery of new product in a single quarter during fourth quarter 2020,a remarkable 6.5 million-square-feet of new industrial space came online. This included the Valley’s first speculative project larger than 1 million square feet, which was developed by Tratt Properties in the West Valley.

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.