By Aaliyah Koelzer and Roland Murphy | AZBEX
A near-capacity crowd filled a conference room at the SkySong Innovation Center this week to hear the latest trends and concerns in the Valley’s shifting Industrial development market at the BEX Leading Market Series panel.
Some of the most prominent players in the field expressed their opinions—both data-driven and personal—about how 2023 has unfolded and what lies ahead.
The panel was comprised of:
- Tammy Carr, Director of Business Development, Brinkmann Constructors– Moderator;
- Alex Boles, Senior VP of Investments and Development, ViaWest Group;
- Rusty Kennedy, Managing Director, Stream Realty Partners Industrial Division, and
- Blake Wells, VP of Preconstruction, LGE Design Build.
The event was sponsored by Brinkmann Constructors.
After a brief introduction by BEX Founder and President Rebekah Morris, the panelists wasted no time jumping into their respective takes on current market statistics.
Kennedy started off with upbeat anecdotes on 2023 productivity. He said that 13.5MSF-15MSF of net absorption in 2023 has been, “Historically the best year ever,” if one excludes the outlying 2021 and 2022 industrial booms. Furthermore, vacancy rates sit at a healthy 5.15%.
