Continued demand leads to new records amid high demand.

Phoenix Business Journal quoted Cooper Fratt, a CBRE senior vice president: “The biggest driver of the industrial success has been continued tenant demand in Phoenix. That’s a combination of companies relocating here from other states such as California” as well as natural expansion.

Growth included nearly 40 industrial buildings totaling 8 million square feet in Q1 –nearly one-half of the total delivered in 2021.

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