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)