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Nearly 13M SF of Office, Industrial En Route

PHOENIX-Developers are planning four million sf of office space and 8.5 million sf of industrial. And, brokers say it can't come too soon.

By Amy Wolff Sorter | Updated on December 29, 2006

(To read more on the industrial market, click here.)

PHOENIX-The past year proved to be a hot one on both industrial and office sides with the pace of corporate and industrial users boosting demand for all types of space, from class A office to warehouse distribution. Local experts tell GlobeSt.com that the demand, across all classes, should continue to be healthy well into 2007.

Kevin Calihan, first vice president in Phoenix for CB Richard Ellis, says this year’s noteworthy trend on the office side was the huge demand. “We’re going to end up absorbing more product than we delivered this year,” he says. “I don’t think anyone foresaw the pace at which corporate users would be taking down space.”

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