Like all things Phoenix these days, the industrial market is on fire. Ecommerce is driving leasing activity and helping to drive vacancy rates to record lows of 7.2% and rental rates to record highs of $0.59, according to the latest report from Kidder Mathews. Last year was a particularly strong year for industrial activity in Phoenix with 7.5 million square feet in net absorption, and while reports forecast strong activity in 2019, it might not match 2018 volumes.
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