AZBigMedia
Sizeable e-commerce leases signed in Phoenix in 2018 are helping to fill millions of square feet of new industrial space – particularly in the Southwest Valley – according to the Q2 2018 Phoenix Industrial Insight report from the Phoenix office of JLL.
Per the report, the market has delivered 1,832,881 square feet of space in Q2 – double the amount of Q1 deliveries – while continuing to inch toward record low vacancy rates.
There has also been a perceivable shift this year from Phoenix’s more traditional large logistics and distribution requirements to the signing of numerous, sizeable e-commerce leases. During the second quarter, 39 percent of all industrial leases were signed by e-commerce companies, compared to 7 percent by logistics and distribution users.
