— By Rob Martensen, Vice Chair, Colliers International — What’s hot in Phoenix’s industrial market? This is a question we get asked a lot from developers and property owners looking to enter our region. The topic of conversation is mostly centered around the amount of space under construction in the Phoenix MSA and what parts of town are seeing the most activity. In the past, we had submarkets that would be more or less attractive, and we would steer clients in that direction. Today, however, the entire Phoenix metropolitan area is in play for tenants and owners. Greater Phoenix has been fortunate to land several “whales,” large corporations that bring multiple suppliers with them. Naturally, the one most talked about is Taiwan Semiconductor Manufacturing Corporation (TSMC) in North Phoenix. TSMC took down nearly 1,600 acres of land to build a $12 billion chip making factory. The company has since announced it will immediately commence construction on Phase II of the project. Intel is another chip manufacturer that has had a presence in nearby Chandler, but is now under construction on a $20 billion expansion. Both of these undertakings will continue to feed companies that move to Phoenix and support not …
