BY Colton Krolak | KTAR News
PHOENIX — The Valley is experiencing an oversupply of commercial real estate space, and it’s leading to an increased number of empty properties.
In the years following the COVID-19 pandemic, developers scrambled to fill predicted demand of what was a very real economic boom.
“What you saw was a tsunami, if you will, of industrial buildings that came online,” said Doug Ressler, manager of business intelligence with Yardi Matrix, a commercial real estate research firm.
Vacancy rates hit 13.4% in the third quarter of 2025, up from 11.8% a year earlier, according to Ressler.
