2022 Q4 Phoenix Industrial Report

With the past three years breaking records for Phoenix industrial properties, the market has become one of the most aggressive construction pipelines in the United States. Proximity to the ports of LA and Long Beach is a major factor benefiting the market. Phoenix’s average industrial rent is near the National Index but is roughly 35%-40% below average rents in nearby Los Angeles and Orange County. Phoenix has also become one of the most active data center markets in the country due to Arizona’s tax incentive for data center development, robust power grid, and the limited risk of natural disasters.

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