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Overall vacancy rates for the fourth quarter dropped to 17.2 percent. Higher absorption was observed across most sectors this quarter with a total of 1,030,746 square feet. Deliveries for this quarter reached nearly 1.3 million square feet and just 1.6 million for 2009. Average rental rates fell across all classes to $0.72 per square foot/per month, down from $0.75 last quarter. With an overabundance of space, overall warehouse rates have dropped to $0.53 per square foot in the fourth quarter.
Contact Matt DePinto at 602.222.5029 for more information.
  Phoenix Industrial Market Report 4Q09.pdf
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