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Overall vacancy rates rose modestly to 17%, up from last quarter’s 16.8%. Absorption remains down at 2.7 square feet million square feet (msf). Proposed projects showed a drop of nearly 500,000 square feet (sf) from last quarter as many projects have succumbed to current market conditions. Industrial market activity during the second quarter continues to be listless, however total sales volume has increased over last quarter. Total sales activity was $86 million, up from last quarter’s $60 million.
Contact Matt DePinto at 602.222.5029 for more information.
  Phoenix Industrial Market Report 2Q09.pdf
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