Manulife, Scannell shop fully leased industrial park near Phoenix
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.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The fourth Phoenix story tracked on the wire in November 2026. All Phoenix coverage →
- Disclosed industrial deal value tracked in November 2026: $223.2M across 3 reported transactions. All Industrial coverage →
Computed from Real Estate Trail’s own tracked coverage
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