Phoenix Commercial Industrial Property Market Reports

Industrial Market Conditions

Industrial investment sales through October 2023 totaled $1.5 billion consisting of 95 industrial properties that averaged $136 per square foot (based on sales of more than $1 million and greater than 20,000 square feet).

Industrial Historical Sales

Historical Industrial Sales
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Key Indicators (as of 3Q2023 relative to prior period)

Industrial
Vacancy

5.6%

Lease
Rates

$1.03

Net
Absorption

4,021,880

Construction
Completions

12,040,105