“Red hot” is how Will Strong, Executive Managing Director at Cushman & Wakefield, described the Phoenix Industrial Market. Q4 2017 posted the highest annual absorption (+8.4 MSF) and is showing the largest industrial pipeline, at more than 5 MSF, since 2014.
In 2018, the southwestern Phoenix submarkets will see heavy construction and absorption, as agricultural lands are turned to warehouses and the 303 highway project continues construction. Lastly, the Inland Empire market of California, 5 hours to the west, continues to lead the country in positive absorption. The strength of the Phoenix market and the cost advantages of Arizona will continue to make Phoenix appealing to new industrial tenants in 2018. Below are five fast facts about the Phoenix industrial market from the Cushman & Wakefield Phoenix Research Team. For the full report click here.