Arizona Real Estate Notebook

Chandler, Arizona and the East Valley industrial and commercial real estate market.

“What people have had to pay for land and what people are paying now to build those buildings, it hasn’t hit the tenants yet in the increased rental rates,” she said. “It will hit them in the next two years and that’s when some of the older projects that have probably stood vacant for a while are going to see complete lease-up. People that have product on the market already that built before these costs went up are going to have an advantage because their cost point will be lower.