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The low industrial rate, trend of positive absorption and rising rents in Phoenix is spurring speculative development in the market. Trammell Crow Co. has broken ground on the SM202 Commerce Park, a 700,000-square-foot speculative industrial facility in Metro Phoenix in the Gila River Indian Community.

“Metropolitan Phoenix industrial vacancy rates are at historical lows of 6.1% as of the first quarter 2019 and annual net absorption at historical highs for 3-plus consecutive years running, at an average of 9 million-plus annually,” Joe Ihrke, SVP at TCC, tells GlobeSt.com. “TCC has developed nearly 3 million square feet of new industrial developments over the past five years and has witnessed firsthand the growing size requirements of occupiers. This has driven our thought process for larger buildings at South Mountain 202 Commerce Center.”

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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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