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PHOENIX—Xceligent's second quarter market reports are out and Phoenix fundamentals are looking healthy, with a few exceptions. As expected, on the office side, the Phoenix market tapped lightly on the brakes as it turned toward summer, while the Phoenix industrial market continued its first quarter momentum by absorbing 2.4 million square feet.
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Some highlights:
- The office market absorbed just over 100,000 square feet, primarily in class B product bringing the year-to-date total to just over 600,000 square feet, helped along by the I-17 corridor.
- In industrial, smaller blocks of space are in high demand on the industrial side, and build-to-suit is making a strong play.
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Geoffery Metz
Geoffery Metz is the content manager for ALM's GlobeSt.com, Credit Union Times and Treasury & Risk. Before joining ALM, he spent several years overseeing the newsroom at the financial wire service Business Wire, with special focus on multimedia presentation for the web.
