Tag Archives: Build to Suit

Speculative office groundbreakings declining as build-to-suit activity increases

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Despite healthy absorption gains in 2015, vacancy in the Phoenix market remains above-average due to continued construction activity. However, concerns over the large amount of vacant space being delivered has resulted in a shift in the type of construction being started.

After delivering over 1.0 million square feet of vacant space to the market in 2015, developers are slowing speculative development, taking note of how long this vacant space stays on the… Read More

Four reasons why 2014 will be ‘The Year of the Distribution Center’

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2014-Research-Report-The-Year-Of-The-Distribution-CenterFour trends driving demand, development and delivery of distribution centers across North America

Industrial markets nationwide have been recovering for almost four full years, with 15 consecutive quarters of positive net absorption. Last year marked a five-year net absorption high with 168 million square feet, and current forecasts suggest it could top 180 million square feet in 2014.

Demand is red hot in the “big logistics corridors”… Read More

Optimism returning to Phoenix’s Industrial market

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Honsaker-blogNOTE: The following post originally appeared in Western Real Estate Business Magazine.

By Bill Honsaker
Managing Director, Industrial
Jones Lang LaSalle

Compared to prior years, 2013 was a time of caution for the Phoenix industrial market. We’d just come off of three years of many large national and global users recognizing the vulnerability of Phoenix’s industrial inventory and taking advantage of those fundamentals to strengthen… Read More

Chart of the week: Industrial BTS is the new vogue while spec falls out of fashion

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COW_Phoenix_October 282

Build-to-suit projects have made up almost 34.0 percent of all new industrial construction in Phoenix from 2003 to 2012 totaling 6.2 million square feet. More recently, however, developers have been much more hesitant to break ground with spec construction compared to several years ago. In 2013, current BTS projects under construction coupled with… Read More