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.
For the full story, go to GlobeSt.com.
© 2019 ALM Media Properties, LLC. All rights reserved.
