Developers are Keen on Phoenix Industrial
Phoenix’s industrial market has been hot, recording its best performances in the last two years. Amid the bolstering demand, developers are taking up entertainment venues to convert into industrial properties. A California-based developer has acquired a Tempe water park and ice rink and is slated for conversion to industrial space. Another developer has pieced together a 50-acre parcel for a planned business park near the Phoenix-Mesa Gateway Airport, a hot spot for logistics companies where available land for industrial development is scarce.
