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The industrial construction pipeline is growing in Phoenix. In the first three months of the year the construction pipeline increased to 7.3 million square feet, a significant increase over the 6.8 million square feet under construction in 2018, according to a new report from Colliers International. In the first three months alone, an additional 1.4 million square feet delivered to the market in the first quarter. The industrial vacancy rate also decreased in quarter to a seven-year low of 7.2%.

Population and job growth are the primary drivers of the industrial growth and swelling construction pipeline. “Maricopa County again ranked as fastest growing county in the nation for the second year-in-a-row. Second is job growth, when you look at industrial using employment for the Phoenix Metro area it increased nearly 7% over-the-year and is the highest in nearly a decade,” Tom Brophy, research director at Colliers International, tells GlobeSt.com.

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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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