RBEX Inc purchased 5951 S Wilmot for $1,750,000.
The industrial market continues to grow in a strong and steady direction as distribution and residential housing continues to grow quickly.
Arizona as a whole outpaces the rest of the country by far when it comes to unemployment rates, economic growth and real estate activity. Migration patterns continue to favor Arizona as residents migrate to Arizona from densely populated cities and states. Reasons for migration include COVID, real estate prices, taxes, regulations and climate. As this mass migration continues, the demand for the residential market continues to stay very strong. This demand is fueling the industrial market as residential developers spur more demand for industrial supply houses and trade related businesses.
Migration and the upcoming wave of demand from marijuana cultivators are going to slim the industrial inventory even more over the next year. We can expect lease rates and sale rates to increase.
Max Fisher of Cushman & Wakefield | PICOR handled this transaction
Max Fisher, Industrial Properties Broker