• The Phoenix industrial market’s momentum continued into the second quarter with 6,328,220 sq. ft. of positive net absorption, its 45th consecutive quarter of gains. 
  • Phoenix industrial vacancy was 4.7% in Q2 2021, a decrease of 90 bps quarter-over-quarter.
  • Construction deliveries totaled 3,191,525 sq. ft. in Q2 2021. 
  • Currently, 20,885,277 sq. ft. of industrial space is underway across the Phoenix market, primarily concentrated in the Southwest Valley.