The WSJ has an article detailing the stalled market for warehouse space on Phoenix's west side. The article starts off...
And it goes downhill from there. Hopefully as consumer demand (eventually) rebounds, this space will fill up. But all the excess warehouse inventory in Phoenix means there will be a long drought going forward in this sector of real estate. I'm sure at least a few of these large, empty warehouses will trade hands in distressed sales over the next couple of years.
Along a 15-mile stretch of desert, amid strip malls and unfinished
subdivisions, nearly a dozen giant warehouses sit silent and empty.
They are relics of this city's dream of becoming a national warehouse
hub, a vision dashed by plunging imports and a reordering of the
nation's biggest ports.
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July 31, 2009
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