Colliers International Q1 2016 Greater Phoenix Industrial Market Report
Rents on the Rise to Start 2016
The first quarter was an active period for both supply and demand growth in the Greater Phoenix industrial market.
Net absorption totaled more than 1.6 million square feet in the first quarter. This was the 11th consecutive quarter of positive net absorption and the 8th time in that span where the figure topped 1 million square feet. Industrial construction accelerated in the first quarter, with more than 2 million square feet coming online.
While sales activity slowed in the first quarter, prices rose. The median price reached $80 per square foot, 14 percent higher than the 2015 median price.