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| Mark Hertzberg |
PHOENIX, AZ – After a long summer lull, the Phoenix
industrial market is ready for a rebound that will not only fill its large
blocks of available space but also continue the momentum generated by small-
and mid-size users alike, says JLL’s Q3 Phoenix Industrial Report.
According to JLL, the Valley absorbed 680,434 square feet of
industrial space during the third quarter, bringing year-to-date absorption up
to 5.6 million square feet.
“We’ve filled in a lot of our vacancies with users in the
40,000 to 80,000-square-foot range who are either relocating or expanding,”
said JLL Managing Director Marc Hertzberg.
“These transactions don’t make the kind of splash that a big
deal might, but collectively they’ve brought us out of one of the worst vacancy
scenarios in the country and they’re teeing Phoenix up for a much more balanced
recovery.
“ Our next benchmark needs to be the attraction of large
corporate users who can take down Phoenix’s 200,000-, 300,000- and
500,000-square-foot blocks that are built and waiting.”
For a complete copy of the company’s news release, please
contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
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