Phoenix Industrial Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , , , , , Colliers, Cushman & Wakefield, ,
Quarterly industrial market indicators for Phoenix, aggregated by CREhunt from , , , , , Colliers, Cushman & Wakefield, , . As of Q1 2026, average asking rent was $13.02/SF with a 11.5% vacancy rate.
Projected current industrial pricing — Phoenix
Projected asking rent
$13.08–$13.99/SF/yr
Estimated sale value
$143–$187/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 Q1 2026 multiple brokerages data (cap rate 5.8%, asking rent trend-adjusted to today). Assumes ~88% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | — | — | 5.0M SF | — | |
| Q1 2026 | $13.02/SF | 11.5% | 20.0M SF | — | |
| Q1 2026 | $13.04/SF | 12.9% | 4.1M SF | — | |
| Q1 2026 | $13.68/SF | 11.2% | 4K SF | — | |
| Q1 2026 | $13.08/SF | 12.4% | 4.3M SF | — | |
| Q1 2026 | — | 10.1% | 2K SF | — | Colliers |
| Q1 2026 | $13.56/SF | 4.8% | 0K SF | — | Cushman & Wakefield |
| Q1 2026 | — | — | 5.0M SF | — | |
| Q1 2026 | — | — | 5.0M SF | — | |
| Q4 2025 | $13.60/SF | 16.0% | 13.4M SF | — | |
| Q4 2025 | — | — | 2K SF | — | |
| Q4 2025 | — | — | 2K SF | — | |
| Q4 2025 | — | 4.0% | 0K SF | — | Cushman & Wakefield |
| Q3 2025 | — | 3.2% | 0K SF | — | Cushman & Wakefield |
| Q2 2025 | — | 1.6% | 0K SF | 2K SF | Cushman & Wakefield |
| Q1 2025 | — | 3.0% | 4K SF | — | Colliers |
| Q4 2020 | — | 3.9% | 0K SF | 0K SF | Cushman & Wakefield |
| Q3 2020 | — | 10.5% | 2K SF | 0K SF | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for industrial space in Phoenix?
- As of Q1 2026, the average asking rent for industrial space in Phoenix was $13.02/SF.
- What is the industrial vacancy rate in Phoenix?
- The industrial vacancy rate in Phoenix was 11.5% as of Q1 2026.
- Where does CREhunt's Phoenix market data come from?
- This report aggregates quarterly industrial market data for Phoenix from Colliers, Cushman & Wakefield.
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