Phoenix’s industrial real estate market is experiencing a surge in new deliveries and rental rates. Despite a slowdown in sales volume, the market remains strong according to recent research by Kidder Mathews. In fact, Phoenix ranks among the top markets nationwide for industrial real estate.
Here are some key highlights:
– New deliveries reached an all-time high of 13 million square feet.
– Rental rates hit a record of $1.04 per square foot NNN.
– Sales volume decreased quarter over quarter and year over year to 4.8 million square feet.
The demand for logistics, e-commerce, and manufacturing space continues to drive growth in Phoenix’s industrial sector. This trend is further fueled by companies relocating from nearby markets such as California. As this trend persists into the future, Phoenix will maintain its position at the forefront of the nation’s industrial rankings.
This article was originally published on Connect CRE website (link).
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