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Industrial building development in metro Phoenix has slowed, but some warehouse/distribution construction continues.  Lease rates have dropped during 2025, and more free rent is offered. Free rent preserves the higher lease rate for later and reduces the 'effective' lease rate. Leasing by quality tenants and the size of leases was stronger in Q2.    -The largest 9 leases for Q2 totaled 3,128,466 million sq. ft. compared to a cumulative 2.4 million sq. ft. for 10 leases in 1Q

Over the past few weeks, as children have been going back to school, traffic has gotten much worse. I  am recalculating my trips around town to avoid the traffic backup in those 15-mile-per-hour school zones, and this got me thinking about summers when I went to school.   During junior high to early high school, I would spend summers on my grandparents' farm in central Nebraska. Within a few days of school ending, I would ride with a family member or even a Continental Trailw

Temperatures are well past 100 degrees in Phoenix, and the thought of going outside is unpleasant. However, preparations are underway for the fall football season, three months away. Preparation is the key word. To avoid the afternoon heat, many local high school players are on the field at 5:30 am to complete outdoor training and workouts before the heat becomes too oppressive.          DEFENSE                                      B                        B                 

Energy Transfer, one of the largest pipeline companies in the US, announced last month plans to construct a 42-inch diameter 512-mile natural gas pipeline from the Permian Basin in west Texas to Phoenix. The anchor client is Arizona Public Service (APS), with interest from Salt River Project, City of Mesa, and Tucson Electric Power. The $5.3 billion project is expected to be completed in 2029 and be fully subscribed.    On July 9th, 2025, APS set a record for power demand at

When I was 9 years old, my family moved to Denver. I was the oldest of 5 children; it was a new beginning for our family and a place my father loved. He and my mother still live in that first house they purchased and raised a family 51 years later. Before moving to Colorado, we had always heard about the Rocky Mountains, as we passed the Nebraska border into Colorado on that first trip we thought the mountains would be right there, instead, it took another 2 hours before coul

Commercial Property Build-Out Costs Commercial property construction costs have stabilized over the past year, but prices are still...

Industrial Market Report Metro Phoenix industrial market absorption in the third quarter of 2024 was the lowest of the year. Phoenix no...

I attended the Fall Conference of the SIOR, (Society of Industrial and Office Brokers) of which I have been a member for about 20 years. SIOR is an 83-year-old group of 4,000+ commercial real estate brokers (Brokers) specializing in sales and leasing of office and industrial properties. Some industrial real estate developers (developers) also attend to present or promote their properties.   The Society was founded in 1941 as a result of the demand for industrial space during

Metrocenter Mall located along Interstate 17 between Dunlap and Peoria Avenue in Phoenix is undergoing a $850 million redevelopment project. The Developer has recently announced plans to demolish the mall, including the former Dillard's store, and the former Macy's building now owned by U-Haul. Scottsdale-based Diversified Partners is planning 140,000 sq. ft. of retail stores for the site.   The 1.4 million sq. ft. Metrocenter mall opened in 1973. At the time, the land north

40 years ago US railroads would load a semi-trailer on a flat car and deliver the trailer to its destination city. Box cars were another major form of rail transportation that would be loaded at a factory and delivered to the destination.    Portland Oregon rail car manufacturer Greenbrier's 1984 innovation of a new money-saving railcar design would change rail transportation. Greenbriar planned to construct a low-profile rail car with the floor just a few inches above the ra