MAINTAINING MOMENTUM, RECORD DEMAND AND INCREASED SUPPLY

Phoenix’s industrial market is experiencing a robust and dynamic period characterized by record demand and increased supply, despite declining national trends. Amidst a historic level of industrial completions, the market has added staggering levels of new supply, establishing a new pinnacle. The Valley had about 40M SF of space under construction in Q4 2013 while about 6.3M SF of space started construction, showing that developers are still bullish on Phoenix. Phoenix’s smaller leases, manufacturing job growth and thriving occupancy rates position the city as a powerhouse in the industrial landscape, maintaining its momentum with optimism and promise for the future.