Nearly 49 million square feet of new industrial construction is underway in metro Phoenix, with an additional 6.6 million square feet added in Q2 2023, according to the JLL Phoenix Industrial Insight report. This growth includes pre-commitments for 17% of under-construction space and 56% of completed space. While logistics, e-commerce, and advanced manufacturing remain key drivers, food and beverage companies are increasingly active. Despite a 20% YoY increase, Phoenix’s industrial rental rate of $0.79 per-square-foot remains competitively low compared to regional counterparts.
Menu
More Information
Frequently asked questions
A full-service lease is a lease that has one, all-inclusive rental rate which includes both the base lease rate and the operating expenses combined into one figure.
A modified gross lease is a lease where the tenant pays base rent at the lease’s inception, but it takes on a proportional share of some of the other costs associated with the property as well, such as property taxes, utilities, insurance, and maintenance.
A triple net lease is a lease agreement on a property whereby the tenant or lessee promises to pay all the expenses of the property, including real estate taxes, building insurance, and maintenance. These expenses are in addition to the cost of rent and utilities.
Helpful blog posts
Menu
480.947.0600
