Casa Grande Advances 954-Acre Data Center Campus

Why this matters

Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. Phoenix is at the front of the Sun Belt multifamily rent-growth recovery and continues to absorb large-format industrial along the I-10 corridor. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.

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On the RET wire

• The 17th Phoenix story tracked on the wire in October 2026. All Phoenix coverage →
• Disclosed industrial deal value tracked in October 2026: $988.9M across 14 reported transactions. All Industrial coverage →

Computed from Real Estate Trail’s own tracked coverage

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