By Scott Shumaker | East Valley Tribune
Yellow warning lights are blinking for Mesa’s industrial market, but there are also reasons for optimism in a new report on the industrial real estate market in the Valley.
The report published last week by investment management firm Colliers shows vacancy rates for industrial buildings rose sharply to 8.1% – the highest vacancy rate since 2017 – during the first quarter of this year.
The Southeast Valley submarket – which includes Mesa as well as Gilbert and Chandler – had an even higher rate of empty space at 11.2% last quarter. That’s an increase from 6.9% last year.
