Has the Phoenix Market Already Matured?

Bob O’Neill

Phoenix was on the last metros in the country to recover from the recession, and because of the late recovery, many investors have the expectation of an extended runway. However, with the flood of capital into the market, has Phoenix already moved past “emerging” status and into maturity?

“In terms of whether Phoenix is still emerging or is a mature market, I think it is both. Since the region has abundant land with limited barriers to entry, it will likely always have emerging submarkets on the outskirts of town,” Bob O’Neill, SVP of acquisitions at CapRock Partners, tells GlobeSt.com. CapRock is expanding its industrial development activity in the market in response to the growth, and it does see an extended runway.