Phoenix Industrial Market Report Q2 2022

15 Jul 2022

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The Phoenix industrial market is on pace to surpass a record-breaking 2021. In the second quarter of 2022, vacancy set a new low for the Valley at 2.8%. Leasing activity remains extremely high. Demand continues to stay ahead of supply as net absorption once again surpassed deliveries. With 31.2 million sq. ft. currently under construction, new product is key to continued future success.