By Kyle Backer | AZ Big Media
Greater Phoenix has earned a reputation as an attractive place for industrial developers thanks to a business-friendly environment, well-built infrastructure and the region’s proximity to trade ports in California. These are some of the factors that led Taiwan Semiconductor Manufacturing Company (TSMC) to build a $12 billion chip plant in North Phoenix and Intel to spend $20 billion expanding its operations in Chandler.
“We’re in the 11th year of a very strong industrial market, and we just posted the 45th consecutive quarter of positive net absorption,” explains Pat Devine, senior vice president of the U.S. region for Artis REIT.
While industrial growth is a boost to the region, there can be too much of a good thing. Does the Valley have a glut of development? Not enough? Or, as Goldilocks says, is it just right?