Phoenix Industrial Market Report
By CREhunt Research · Data through Q2 2026 · Aggregated from CBRE, Kidder Mathews, Matthews, Lee & Associates, Savills, Cushman & Wakefield, JLL, Colliers
Quarterly industrial market indicators for Phoenix, aggregated by CREhunt from CBRE, Kidder Mathews, Matthews, Lee & Associates, Savills, Cushman & Wakefield, JLL, Colliers. As of Q2 2026, average asking rent was $13.08/SF/yr, per CBRE.
Projected current industrial pricing — Phoenix
Projected asking rent
$13.62–$13.81/SF/yr
Estimated sale value
$150–$186/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q2 2026 multiple brokerages data (cap rate 5.8%, asking rent trend-adjusted to today). Assumes ~89% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q2 2026 CBRE | $13.08/SF/yr | — | — | — | CBRE |
| Q2 2026 Kidder Mathews | $14.16/SF/yr | 11.4% | 5.4M SF | 13.2M SF | Kidder Mathews |
| Q1 2026 Matthews | $13.02/SF/yr | 11.4% | 6.2M SF | — | Matthews |
| Q1 2026 Lee & Associates | $13.08/SF/yr | 12.4% | 4.3M SF | — | Lee & Associates |
| Q1 2026 Savills | — | 14.4% | — | — | Savills |
| Q1 2026 CBRE | $12.72/SF/yr | 10.2% | 4.9M SF | — | CBRE |
| Q1 2026 Cushman & Wakefield | $13.56/SF/yr | 12.0% | 3.0M SF | — | Cushman & Wakefield |
| Q1 2026 JLL | $11.88/SF/yr | 11.1% | 6.9M SF | — | JLL |
| Q1 2026 Colliers | — | 10.1% | 2K SF | — | Colliers |
| Q4 2025 Savills | — | 15.3% | 2.2M SF | — | Savills |
| Q4 2025 Matthews | $12.99/SF/yr | 12.4% | 4.4M SF | — | Matthews |
| Q4 2025 Cushman & Wakefield | $13.08/SF/yr | 12.4% | — | — | Cushman & Wakefield |
| Q3 2025 Cushman & Wakefield | $13.20/SF/yr | 13.1% | — | — | Cushman & Wakefield |
| Q2 2025 Cushman & Wakefield | $13.68/SF/yr | 13.3% | — | 2K SF | Cushman & Wakefield |
| Q2 2025 Matthews | $13.60/SF/yr | 12.1% | 13.4M SF | — | Matthews |
| Q1 2025 Colliers | — | 3.0% | 4K SF | — | Colliers |
| Q2 2024 Colliers | $13.44/SF/yr | 9.0% | 5.3M SF | — | Colliers |
| Q4 2020 Cushman & Wakefield | $7.80/SF/yr | 7.8% | — | 14 SF | Cushman & Wakefield |
| Q3 2020 Cushman & Wakefield | $7.56/SF/yr | 7.6% | 2K SF | 7 SF | Cushman & Wakefield |
Industrial asking rents by submarket
The newest asking rent a named brokerage's report published for each Phoenix industrial submarket, with its publisher and quarter. Submarkets whose newest figure cannot be attributed, or falls outside a plausible range, are left out.
| Submarket | Asking rent | Source |
|---|---|---|
| Airport | $1.14/SF/mo Cushman & Wakefield · Q1 2026 | Cushman & Wakefield, Q1 2026 |
| Airport Area | $1.22/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Central Phoenix | $1.32/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Chandler | $1.43/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Chandler Airport | $1.48/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Chandler North/Gilbert | $1.37/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Deer Valley/Pinnacle Park | $1.33/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Falcon Fld/Apache Junction | $1.35/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| General Industrial | $0.82/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Glendale | $1.05/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Goodyear | $1.07/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Grand Avenue | $0.85/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Manufacturing & Warehouse | $1.09/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Mesa | $0.95/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| North Airport | $1.29/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| North Black Canyon | $1.13/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Northeast | $1.66/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Northeast Valley | $1.75/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| Northwest | $1.17/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Northwest Valley | $1.10/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| SC North of Salt River | $1.12/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| SC South of Salt River | $0.76/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Scottsdale Airpark | $1.73/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Scottsdale/Salt River | $1.79/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| South Airport North of Roeser | $1.25/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| South Airport South of Roeser | $1.35/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Southeast | $1.28/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Southeast Valley | $1.09/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| Southwest | $0.96/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Southwest North of Buckeye Road | $0.97/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Southwest South of Buckeye Road | $1.31/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Southwest Valley | $0.89/SF/mo CBRE · Q1 2026 | CBRE, Q1 2026 |
| Surprise | $1.38/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Tempe East | $1.26/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Tempe Northwest | $1.24/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Tempe Southwest | $1.18/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| Tolleson | $0.85/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| West Phoenix North of Thomas Road | $1.09/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
| West Phoenix South of Thomas Road | $1.20/SF/mo Kidder Mathews · Q2 2026 | Kidder Mathews, Q2 2026 |
How the brokerage sources compare
For Q2 2026, the brokerages CREhunt aggregates for Phoenix industrial did not fully agree. Asking-rent estimates differ by $1.08/SF/yr — from $13.08/SF/yr to $14.16/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| CBRE | — | $13.08/SF/yr | — |
| Kidder Mathews | 11.4% | $14.16/SF/yr | — |
Per-brokerage figures for Q2 2026, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Phoenix?
- As of Q2 2026, the average asking rent for industrial space in Phoenix was $13.08/SF/yr, per CBRE.
- What is the industrial vacancy rate in Phoenix?
- Vacancy data for Phoenix industrial is aggregated from brokerage reports; refer to the quarterly table for available quarters.
- Where does CREhunt's Phoenix market data come from?
- This report aggregates quarterly industrial market data for Phoenix from CBRE, Kidder Mathews, Matthews, Lee & Associates, Savills, Cushman & Wakefield, JLL, Colliers.
- How much do brokerage estimates differ for industrial space in Phoenix?
- For Q2 2026, the brokerage sources CREhunt aggregates for Phoenix did not fully agree. Asking-rent estimates differ by $1.08/SF/yr — from $13.08/SF/yr to $14.16/SF/yr. CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
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