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Phoenix, Arizona: A Premier Destination for Commercial Real Estate

Introduction

Phoenix, Arizona, stands as a vibrant hub for commercial real estate, characterized by its dynamic economy and strategic location. As the fifth-largest city in the United States, Phoenix boasts a diverse economy with major industry clusters in technology, aerospace, and logistics. Its unique positioning in the commercial real estate (CRE) market is enhanced by its robust infrastructure and attractive business climate, making it a sought-after destination for investors and developers alike.

Economic and Industry Overview

Phoenix's economy is driven by a mix of high-growth industries, including biotechnology, aerospace, and logistics, each contributing significantly to the demand for various commercial property types such as office spaces, industrial complexes, and retail centers. The city's economic development is supported by initiatives from agencies like the Greater Phoenix Economic Council, which actively promote business growth and attraction.

Strategic Location and Transportation Infrastructure

Phoenix offers unparalleled logistical advantages with its integrated transportation network. Major highways such as I-10 and I-17 connect the city to regional and national markets, while the Phoenix Sky Harbor International Airport serves as a key hub for both passenger and cargo transport. Additionally, the presence of Valley Metro Rail enhances connectivity within the metropolitan area, providing access to a diverse labor pool. For further information, visit the Arizona Department of Transportation.

Commercial Real Estate Inventory & Zoning

The Phoenix CRE market is segmented into several key submarkets, including the Central Business District (CBD), industrial corridors in the West Valley, and innovation districts like the Discovery Triangle. The city offers a variety of asset classes ranging from industrial and retail to office and medical spaces. Recent zoning changes and incentives are designed to facilitate development, with resources available on the City of Phoenix Zoning Maps.

Major Employers and Institutions

Phoenix is home to numerous top employers and institutions that drive CRE demand. Notable employers include Intel, Banner Health, and Honeywell Aerospace. Additionally, the presence of Arizona State University and various government centers bolster the city's economic landscape. For more information, visit the City of Phoenix Business Directory.

Notable Commercial Developments & Projects

The city is witnessing several large-scale developments, such as the mixed-use development "The Central Park" and the innovation park "Novus Innovation Corridor." These projects, often supported by public-private partnerships and located within Opportunity Zones, are transforming the CRE landscape. Planning resources can be viewed at the Phoenix Planning and Development Department.

Building Permits, Planning, and Development Tools

For those interested in development, Phoenix offers a suite of tools and resources including:

Market Data & Economic Reports

Phoenix's CRE market data is enriched by various public data sets available through census.gov and the city's Open Data Portal. Brevitas leverages AI-powered aggregation from these sources and internal insights, providing users with comprehensive market dashboards. Explore our Brevitas-powered city search for Phoenix.