Phoenix Industrial Market Red-HotYou know your
market is doing well, when this is the chief negative:
The problem the industrial market continues to struggle with is not much supply and increasing demand. Tony Lydon, senior vice president, Grubb & Ellis/BRE Commercial LLC, pointed out vacancies area-wide are hovering between 6% and 7% in the 250-million-sf inventory. Although seven to eight million sf will deliver this year, there are barriers to development: shrinking land base, ever-expanding entitlement process and rising construction costs.
Excellent discussion of Phoenix's emergence as an alternative to Southern California's Inland Empire.
Labels: Phoenix Industrial Market
