While Phoenix remains a top industrial development hub with 17.4 million square feet underway, its pipeline is less than half the size it was a year ago, according to a new report from CommercialCafe .

Western markets commanded the highest average sale prices in the nation with the region being home to six of the seven priciest markets by average price per square foot. Orange County leads the nation in that regard, with an average sale price of just over $300/square foot, which is up $18 from May but down 12% Y-o-Y. Orange County also boasts the largest average lease rates in the nation, standing at $16.80/square foot for in-place leases as of June, up 7.8% from last year.

Phoenix industrial development

At the same time, industrial pipelines are rebalancing as companies navigate compl

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