Cushman & Wakefield's Q3 2022 Phoenix Development Study
By Paul Boyle, Executive Director and AZSA Member
Cushman & Wakefield
Development Study Summary
There were 7 grand openings of self-storage facilities in Maricopa County in Q3/22, adding over 483,671 square feet and about 2,970 units to supply in the Phoenix area. Year to date, 24 new facilities have opened, adding a total of 1.8 million square feet and over 7,898 units to supply so far this year.
Developers continue to show confidence in the Phoenix market, evidenced by the 27 new facilities currently under construction. The 27 currently under construction include 4 in Phoenix, 14 in cities west of Phoenix (Glendale/Goodyear/Surprise), 3 east of Phoenix (Chandler/Gilbert/Mesa/Queen Creek) and 6 in Scottsdale. There are another 77 facilities in the planning stage.
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