DEMAND IN OVERDRIVE

Article originally posted on Phoenix Business Journal on November 15, 2020

The industrial logistics space in the Loop 303 corridor in Glendale and Goodyear is expected to grow by more than 200%, from 15 million square feet to 50 million square feet in the next five to six years.

“The Loop 303 corridor is the place that offers development and employment land site solutions,” said Tony Lydon, managing director of Jones Lang LaSalle Inc. in Phoenix.

Land that is zoned or can be rezoned for industrial uses is limited in the metro, so readily available spaces in the West Valley are highly desirable, he said. Plus, companies already in that part of the region need to scale, and the need for additional industrial space already exists.

Find Complete Article Here: https://www.bizjournals.com/phoenix/news/2020/11/13/undersupply-drives-demand-logistics-space.html

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