Metro Phoenix #5 in Industrial Under Construction

Credit: Phoenix Business Journal

New data from Cushman & Wakefield shows Phoenix ranking in the Number Five spot in the country in terms of industrial construction.

Dallas/Fort Worth led the nation with 54.1MSF under construction, followed by Pennsylvania’s I-81/I-78 corridor at 33.7MSF, Atlanta at 32.6MSF, and Inland Empire at 30.7MSF.

Phoenix trailed closely behind at 30.3MSF.

Nationwide, Q4 vacancies hit a record low of 3.7%. Net absorption dipped 6.3% from Q3, coming in at 145.2MSF.

New leases were 178.9MSF for Q4, down from Q3’s 232.2MSF. (Source)

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