Figures
Phoenix Industrial Figures Q1 2025
April 9, 2025 5 Minute Read
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‒Net absorption was 1.8 million sq. ft. in Q1 2025, with distribution properties driving the market with around 2.1 million sq. ft. of net absorption.
‒Twenty-seven buildings were delivered for a total of 7.4 million sq. ft. in Q1 2025, down 37.1% in sq. ft. from Q1 2024.
‒Construction volume continued to cool in Q1 2025 with 11.1 million sq. ft. under construction, the lowest number since Q1 2021.
‒Quarter-over-quarter, the vacancy rate raised 100 bps to 12.2%.