In the last decade, six different industrial submarkets have more than doubled in size, while an additional seven grew between 50% and 100%. But as we stand today, Phoenix is No. 1 in the nation with the largest active industrial pipeline.
A wave of industrial development — the result of prolonged investor appetite and government subsidies — are starting to open their doors, promising to further concentrate the advance of new industrial stock into small areas of high-demand markets as well as marking a resurgence in others. Naturally this expansion isn’t uniform across the country — or even within individual markets.
Therefore, to understand the nuances, we zoomed in on the top 100 largest industrial space submarkets by total square footage, which represent roughly one-third of all U.S. industrial space.
West Phoenix boasts the largest active industrial pipeline among the top 100 largest U.S. submarkets, with over 7.8 million square feet of space under construction representing 5.6% of its existing inventory.
West Phoenix added 49 million square feet of industrial space between 2014 and 2023 — a 53% increase — which was the 2nd-highest addition among the top 100.
The submarket placed 4th among top 100 for its total industrial space of 141 million square feet.
63.3% of West Phoenix’s total stock is made of Class A industrial space – or 89.3 million square feet, which is the 3rd-largest inventory of Class A among the top 100.
You can find more information about this topic in our full report: https://www.commercialsearch.com/blog/fastest-growing-industrial-submarkets/
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