Phoenix is getting itslargest speculative office building yet. TrattProperties is building Elwood Logistics Center, a 1.3million-square-foot class-A industrial facility in Goodyear,Arizona, a qualified opportunity zone. The project is the largestspeculative industrial project to ever break ground in the PhoenixValley, and a sign of the growth in the market.

"As the world's 29th largest economy with almost $25billion in exports last year, Arizona has become a supply chaindynamo," Anthony Lydon, managing director at JLL,tells GlobeSt.com. "The Phoenix/Goodyear region's strategiclocation between Mexico and the ports of SouthernCalifornia—combined with the recently passed UnitedStates-Mexico-Canada Agreement—is creating an accretive impact onoccupant demand for manufacturing and B-to-B fulfillment space. Italso drives jobs. Arizona has more manufacturing jobs thanconstruction jobs."

There is growing demand for quality, bug box facilities, likethis in the Phoenix area. "This project is notable not only asArizona's largest speculative industrial space but also a projectoffering very attractive speed-to-market timing," says Lydon. "Itsyear-end shell completion will create a unique scenario formulti-state providers looking for a deep, affordable and qualifiedworkforce."