• The Phoenix industrial market’s momentum continued into the third quarter with 3,206,023 sq. ft. of positive net absorption, its 46th consecutive quarter of gains. 
  • Phoenix industrial vacancy was 4.2% in Q3 2021, a decrease of 50 bps quarter-over-quarter.
  • Construction deliveries totaled 2,151,521 sq. ft. in Q3 2021. 
  • Currently, 28,240,065 sq. ft. of industrial space is underway across the Phoenix market, primarily concentrated in the Southwest Valley.