Tag Archives: Q2

Phoenix’s Northwest submarket poised be the next industrial hot spot – Q2 Industrial Insight Report

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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

Q2 Phoenix Industrial Insight: Construction shaping the industrial landscape

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Developers focusing on submarkets with large existing availabilities
The two largest industrial submarkets in the Valley, Southwest and Airport, feature some of the highest availability rates at 16.6 percent and 12.8 percent, respectively. Despite large amounts of available space, including a total of 54 blocks of available space of 100,000 square feet or more, developers have chosen these submarkets as the location for 88 percent of the new, mostly speculative product currently under construction market-wide. Corporate tenants have moved away from the outdated space offerings currently available, preferring to pay a premium for design-builds or newly delivered speculative Class A product that can offer more functional space with larger clear heights.… Read More

Phoenix Q2 Industrial Recap: An unexpected turn of events

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Industrial RecapIn Q2, Phoenix’s industrial market experienced an unexpected turn of events as vacancy rates increased slightly and net absorption dropped off in the second quarter. Even though the industrial market is supported by a quickly recovering Phoenix economy as well as over 10 to 12 million square feet of requirements actively touring the market, this quarter saw the market take… Read More

Q2 2013 U.S. Construction Perspective: It’s a residential story…again.

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U.SWhile the overall US economy is still struggling to maintain growth, the sector that was at the root of the recession has managed to gain solid traction. The recovery in housing will positively impact the industry in terms of job opportunities and activity, as well as increase demand for materials, and longer term, will generate more jobs. 2013 will likely be the year… Read More

Q2 Office Report: Phoenix market seeing some positive indicators

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CaptureThings may be looking up for Phoenix’s office market. Vacancy rates have diminished slightly in the second quarter as more
office space is being absorbed by both large companies restructuring
their operations and smaller businesses that are growing out of their current space.

Phoenix’s job growth in the first half of 2013 was very strong, adding
27,200… Read More