Industrial Corridor Developing In SW Valley

The Arizona Business Gazette reports that real estate professionals are looking at SW Valley locations for the Valley's next major industrial corridor, with demand being driven by property shortages and low vacancy rates elsewhere.

Dan Calihan, first vice president of CB Richard Ellis, said industrial corridors near Sky Harbor, in Scottsdale, Deer Valley in North Phoenix and southwest Phoenix are running out of land for industrial uses. The Valley's industrial vacancy rate dropped below 8% for the first time in four years. The housing boom and job growth are luring more companies to the Valley, causing industrial property demand to grow. The Interstate 10 corridor and along the Union Pacific Railroad line are cited as areas where we will see industrial uses expand. More...