Friday, September 23, 2016

JLL: New Construction Driving Phoenix Industrial Rents; Leases at Airport I-10 and Park Lucero illustrate local trend

Park Lucero Industrial Complex, Phoenix, AZ

 PHOENIX, AZ, Sept. 23, 2016 – The delivery of more than 2.8 million square feet of new industrial construction in Phoenix during the first half of 2016 has made an impact on the Valley, says the Phoenix office of JLL – in some cases pushing industrial rental rates by as much as 36 percent higher than their existing average.

Pat Harlan
Customers looking for increased efficiencies are flocking to this new Class A space, which features amenities such as wide column spacing and clear heights of up to 36 feet.

This trend is actively playing out at Airport I-10, in the airport submarket, and Park Lucero, in the Southeast Valley, where JLL has completed a total of 18 new leases over the last 24 months. All together, these leases represent a total tenant commitment of more than 579,000 square feet.

More information on these and other local industrial trends are available in JLL’s Q2 Phoenix Industrial Report.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and Associate Kyle Westfall are the exclusive leasing brokers for Airport I-10. Harlan, Sayre and JLL Vice President Steve Larsen represent Park Lucero.

For a complete copy of the company’s news release, please contact:

Stacey Hershauer
Marketing & Public Relations
(480) 600-0195

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