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If it hadn’t already, the Phoenix industrial market has officially hit its stride. Last year, industrial investment sales volumes doubled year-over-year to $1.8 billion, according to research from JLL. This year, Phoenix has been listed as a top buy market for industrial product, and it could mean another year of record-breaking deal volume. The investment demand has been driven by a host of strong fundamentals, including rent rate growth, tightening market supply and attractive geographic location within a day’s drive of Los Angeles’ two major ports.

“There are multiple fundamentals that have been driving the activity in the Southwest Valley,” Peter Bauman, SVP at JLL, tells GlobeSt.com. “First and foremost, industrial has become the darling of property types. Everyone wants to be in industrial, and there are a lot of investors and publicly traded REITs that are divesting away from other asset classes and doubling down on industrial product, so you have robust capital demand. Phoenix has positioned itself as being a leading big-box distribution center, and we have all of the right fundamentals, from workforce, infrastructure and freeways to meet those demands.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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