Innovate48 — Lease in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Industrial Property
  • Location: Phoenix, AZ 85034

Description

Innovate48 is a brand new, Class-A Industrial building designed for unparalleled accessibility and prominence. Boasting a total area of 164,811 square feet, this state-of-the art facility is Phoenix’s premier industrial destination. The property is situated in a prime location within 5 miles of downtown Phoenix and Old Town Scottsdale, 4 miles from ASU, and only 1 mile from Phoenix Sky Harbor International Airport. With on-site retail amenities and many others nearby, Innovate48 is where innovation meets convenience.

Market Context

This industrial in Phoenix, AZ is listed for lease. Compare it against other industrial listings for lease in Phoenix, AZ — view the full market.

As of Q2 2026, the Phoenix industrial market showed an 11.4% vacancy rate, average asking rents near $13.62/SF/yr, and rents up 2.8% year over year. Source: multiple brokerage reports, Q2 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Industrial market FAQ

Is the Phoenix industrial market tightening or softening?
Vacancy is around 11.4%, with asking rents rising year over year (Q2 2026).

Estimated Market Rate

$1.07/SF/mo – $1.45/SF/mo

Mid: $1.26/SF/mo

Based on comparable properties in similar markets rather than local sales.

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