The Phoenix metro has become one of the hottest locations for manufacturing and is on its way to becoming a major technology hub in the U.S., according to a new report from CBRE Group Inc.
The Phoenix market is expected to be a major beneficiary of reshoring efforts because of its proximity to Mexico, its lack of natural disasters, skilled labor force, business climate and development opportunities, real estate experts say.
"Phoenix has been able to stand up really tall with our speed-to-market for construction, we've got amazing infrastructure. A lot of these groups need a combination of heavy power and water and we have both that we're able to bring to the table," Jackie Orcutt, senior vice president at CBRE, told the Business Journal.
The region has in recent years experienced unprecedented industrial demand and construction, mostly for distribution and logistics users but also from manufacturers.
