PHOENIX – The cost of renting industrial and logistics real estate has risen across the country, and few places have prices risen as sharply as the Phoenix Metro – yearly jump in base rents for industrial space, according to a new report from CBRE Group Inc. [cbre.us], the numbers from the end of 2020 and the first months of 2021 are used. More businesses are entering or expanding in Arizona, so the Valley’s strong rental growth will not slow down anytime soon, according to an expert given the increasing demand from local and overseas businesses attracted by the high standard of living in the area, relatively lower operating costs compared to coastal areas , skilled workforce and a business-friendly environment, ”said CBRE. from Phoenix First Vice President Evan Koplan in a statement. “That is why we will continue to see rent increases.” CBRE cited high demand and low vacancy rates for the current situation, which have resulted in tenants paying more than the asking price for real estate. Read more about this story in the Phoenix Business Journal.
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