Metro Phoenix recorded a whopping 9.8 million total square feet of industrial absorption in 2017. This is the largest annual net absorption gain in Phoenix history. The total also marked the fourth consecutive year of annual net absorption in Phoenix, totaling 6.0 million square feet or more, which has not been seen since 2004-2007. The previous peak of nearly 7.9 million square feet in 2005 fell in the middle of one… Read More
With ample land available for development and relatively low construction costs, users in the Phoenix industrial market often decide to build their own facility instead of leasing space in existing properties. However, leasing activity in existing… Read More
The Northwest is Phoenix’s third-smallest industrial submarket behind 51 Corridor and Scottsdale, but it is posting big activity, attracting two of the largest owner-built facilities of the year:
- REI — A 400,000 square foot fulfillment warehouse in Goodyear
- IRIS USA — A 384,373 western regional headquarters in Surprise
Both REI and IRIS praised the cities of Goodyear and Surprise, attributing business-friendly environments and “holistic communities” as reasons for locating in the Northwest. But the… Read More
In the latest issue of Western Real Estate Business, JLL Phoenix’s National Director Anthony Lydon discusses the great opportunities offered by the Phoenix industrial market. According to Lydon, Phoenix is “a sweet spot between West Coast ports, manufacturing in Mexico, and alongside truck and rail routes leasing product into the heart of the nation.” When you combine the market’s geographic and demographic advantages with lower-cost solutions, Phoenix is a stop contender for large corporate America companies looking to expand. … Read More
ViaWest asset now 94 percent occupied with 80,635 s.f. in new deals
On behalf of ViaWest Group, the Phoenix office of JLL has closed two new leases totaling 80,635 square feet at Tiger Industrial Center in Phoenix. The two leases – to Walmart and Custom Bilt Holdings – bring Tiger Industrial Center to 94 percent occupied.… Read More
Note: The following interview and article featuring Anthony Lydon, JLL’s Managing Director – Industrial, originally aired on 91.5 KJZZ and appeared on KJZZ.org.
Listen to the interview:http://joneslanglasalleblog.com/Phoenix/wp-content/uploads/2014/04/Manufacturing-Down.mp3
A new report highlights how manufacturing has changed in Phoenix over the last year, and what could happen as the industry comes out of the recession. The report from JLL is generally positive: The housing market is stabilizing while… Read More
Lincoln Property Company (LPC) and industrial specialists in the Phoenix office of Jones Lang LaSalle (JLL) have collaborated to attract corporate design/build projects to a major new, multi-employer business park named Goodyear AirPark in Goodyear, Arizona.
The announcement comes on the heels of a joint venture formed between LPC and property owner Carefree Partners Investments. LPC will be the project’s design-build developer, based on the firm’s national scope, local office accessibility… Read More