The ZIP code surrounding Phoenix-Mesa Gateway Airport area tops all others in the nation for spec industrial space under construction, according to a recent report from CoStar Group Inc.
While Valley observers likely realize the Phoenix-Mesa Gateway Airport's 85212 ZIP has been a hotbed for industrial activity, the fresh CoStar data shows that it tops 75126 outside Dallas and 89165 near Las Vegas as the top ZIP in the nation for unleased ongoing construction.
"The total existing inventory has more than tripled, going from 4.6 million square feet at the end of 2019 to over 16 million square feet today. Another 8.7 million square feet is underway — more than 75% of which is currently available for lease. As a result, about 6.75 million SF of unleased industrial space is under construction — the most of any ZIP code in the country," said Connor Devereux, CoStar director of market analytics.
Rusty Martin, general manager of the Southwest division for Graycor Construction Co., a resident of the southeast valley near Mesa Gateway Airport, said his firm works on about eight to 10 projects while pursuing work on 15-20 projects at a given time.
"When we moved down there 20 years ago, there was hardly anything down there other than the airport," Martin said of the area surrounding Phoenix-Mesa Gateway. "It's been neat to see that place grow and mature and, obviously over the last few years, has just exploded with the industrial product."
