Firms in all commercial real estate development areas — industrial, office and retail — see the advantage that the West Valley has not only in comparison to the state but to the nation.
The construction of Loop 303 opened up new potential to the west by creating easy access to land that was previously cut off from the Phoenix area. It has acted as a foundation for developing a new section of the west valley.
The industrial sector is exploding, with more than 25 million square feet currently under construction. The available, developable land in the West Valley is being snatched up fast.
West Valley towns such as Glendale, Goodyear, Buckeye, Avondale, and Surprise have a number of built-in advantages when it comes to the commercial real estate sector:
- Transit infrastructure and supply chain factors: These cities offer the Valley’s easiest access to California, Mexico, and international ports, thanks to proximity to major freeways, making this area a natural for distribution centers and other logistics companies.
- Cost savings: Companies can save an estimated 30% or more compared to being located in Southern California.
- Supportive city leadership: Greater Phoenix has a business-friendly climate, plus more affordable housing.
Going forward, a number of factors could make relocations to Phoenix and the West Valley even more attractive. The West Valley is a hot trending market that will continue to experience rapid growth in the next several years to come.
- West Valley Development and Growth
- The Supply Chain Impact on Commercial Real Estate
- Jennifer Jones