Tucson Industrial Figures Q4 2023

January 12, 2024 5 Minute Read

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‒Vacancy increased 40 basis points (bps) quarter-over-quarter to 6.3% in Q4 2023.


‒Net absorption remained in positive territory for the second consecutive quarter and outpaced the trailing 3-year quarterly average of 127,062 SF.


‒Development activity elevated, as roughly 2.1 million sq. ft. broke ground in Tucson during Q4 2023. All projects underway as of December are owner/user with no space availabilities.