The Metro Phoenix commercial real estate sector continues to stay red hot, as evidenced by the biggest commercial real estate deals in April, according to the commercial real estate tracking website Vizzda.
In terms of the overall Metro Phoenix market, here’s what experts are seeing, according to a report from CBRE:
• The Phoenix industrial market’s momentum continued into the first quarter with 5,622,877 square feet of positive net absorption, its 44th consecutive quarter of gains.
• Phoenix industrial vacancy was 5.6%% in Q1 2021, a decrease of 40 bps quarter-over-quarter.
• Construction deliveries totaled 4,394,711 square feet in Q1 2021.
• Currently, 11,403,937 square feet of industrial space is underway across the Phoenix market, primarily concentrated in the Southwest Valley.
• Net absorption for office space in Q1 2021 finished at -554,058 square feet, the…