Warehouse Sales Continue to Surge in Phoenix, While Suburban Flex Space Attracting Foreign Investors

Warehouse Sales Continue to Surge in Phoenix, While Suburban Flex Space Attracting Foreign Investors

Phoenix, AZ – October 26, 2011 – (RealEstateRama) — Resurgent economic headwinds have rattled the nation’s employment and industrial markets, as both hiring and industrial property sales volume eased in the third quarter. Nevertheless, the economic turbulence is not expected to lead to a double-dip recession. So far in 2011, national blue-collar employment levels have expanded by an estimated 361,000 positions, or 1.3%, and roughly $17 billion in industrial transactions have closed. During the same stretch last year, fewer than 3,000 manual-trade positions were added and industrial sales volume reached just $11.7 billion. Furthermore, several key hiring and industrial market indicators, including the Institute of Supply Management’s PMI index, showed improvement late in the third quarter, strengthening fourth quarter expectations. Total nonfarm employment is an ticipated to expand by 1.4 million new jobs in 2011, or 1.1%, after 940,000 workers were added last year. Manual industries will generate 451,000 positions, representing growth of 1.6%.

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In addition to celebrating 20 years of leadership excellence in commercial real estate in the Phoenix market, Lee & Associates is one of the largest national commercial real estate providers with regional expertise. Lee & Associates currently has more than 40 offices located throughout the nation. Clients of Lee & Associates Arizona enjoy a comprehensive range of specialized commercial real estate services including: industrial, office, retail property sales and leasing; real estate investment consulting, property acquisition and disposition; tenant representation and relocation, land assemblage.

The Phoenix office of Lee & Associates was established in 1991 as the first office to open outside of California. The Lee & Associates model – empowering agents as owners of the company – attracts industry-best real estate agents and has fueled the Phoenix office’s growth from 12 brokers in 1991 to nearly 40 brokers today. 

Contact:

3200 East Camelback Road, Suite 100
Phoenix, Arizona 85018

Phone: 602-956-7777
Fax: 602-954-0510

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