Phoenix Has Nearly 41.6 Million SF of Industrial Under Construction

Phoenix leads the nation’s industrial market with nearly 41.6 million square feet of active construction projects, comprising 10.9% of the national total, driven by efficient cost management and increased subcontractor participation. Despite a slowdown in office construction, Phoenix saw a surge in office investment, ranking among top markets. The construction industry in Arizona maintains high demand for workers, with a decrease in the state’s unemployment rate to 4.1% in February 2024. Material pricing is stabilizing in 2024, although challenges persist in specific categories like drywall. Supply chain disruptions are easing, contributing to a potential “soft landing” in inflation and potentially boosting construction activity with the Federal Reserve considering halting rate increases.

Read more here

Interested in speaking with LevRose?


Let’s work together! Partnering with LevRose is easy. Simply fill out this form, including as much information as you can provide about your client and their needs.


Fill out this form to learn more about opportunities to join our team.