Q3 2024 Construction Report Highlights
LGE Design Build’s Q3 Construction Delivery Outlook report has just been released, providing a comprehensive overview of the current state of industrial development in two major markets: Dallas-Fort Worth and Phoenix.
Here’s a sneak peek into the findings that you won’t want to miss.
Dallas-Fort Worth: Economic Vitality Amidst Slowing Development
The Dallas-Fort Worth industrial pipeline has experienced a slowdown over the past five quarters. However, the region’s economy remains robust, driven by strong demand in technology, finance, and healthcare sectors. The construction labor market is thriving, with significant job growth, and material prices are stabilizing, offering a more predictable environment for managing costs. Despite these positive trends, challenges such as fluctuating interest rates and supply chain issues persist. The full report delves deeper into these dynamics, shedding light on the future outlook for the region.
Phoenix: Leading the Nation in Industrial Construction
Phoenix has emerged as a leader in industrial construction, delivering over 10 million square feet of industrial space last quarter and maintaining a strong pipeline with 37 million square feet currently underway. The market continues to thrive due to steady demand, driven by major developments and job growth. Material costs are stabilizing, and the construction labor market is expanding, contributing to a promising outlook. Detailed insights into the factors driving Phoenix’s growth and the challenges ahead are available in the full report.
These highlights offer just a glimpse of the valuable information contained in LGE Design Build’s Q3 Construction Delivery Outlook report. For a more detailed analysis and to understand the full implications for your business, download the complete report today.
Download The Q3 2024 Construction Report
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