Arizona One of the Top Commercial Real Estate Markets in US for State GDP, New Report Finds

Article originally posted on Phoenix Business Journal on February 28, 2023

Development of industrial and warehouse construction projects accounted for a major part of commercial real estate expenditures nationwide in 2022.

With the Phoenix metro being one of the fastest-growing industrial markets in the country, Arizona’s gross domestic product was a beneficiary of that activity. A new report from national real estate organization NAIOP found that Arizona’s commercial real estate market ranked No. 2 in the nation from September 2021 to September 2022 for total output, direct spending, personal earnings and jobs supported by commercial real estate development.

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