Phoenix Commercial Industrial Property Market Reports

Industrial Market Conditions

Industrial investment sales through April 2024 totaled $600.2 million consisting of 40 industrial properties that averaged $150 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 1Q2024 relative to prior period)

Industrial
Vacancy

8.1%

Lease
Rates

$1.09

Net
Absorption

4,478,688

Construction
Completions

9,708,925