Nearly half of the industrial construction pipeline in Phoenix is mid-bay product sized from 50,000 square feet to 200,000 square feet.

The firm behind Built states that the new platform will offer tenants turn-key, pre-built space fully furnished with best-in-class finishes and modern workstations.

The combined company brings together two complementary portfolios, increasing the size, scale, and diversification of the new entity.

Forecasts for commercial real estate prices in 2020 and 2021 are expected to fall below the long-term average growth rate for the first time since 2011.