Tucson Industrial Market Report
By CREhunt Research · Data through Q4 2023 · Aggregated from Colliers, CBRE, Cushman & Wakefield
Quarterly industrial market indicators for Tucson, aggregated by CREhunt from Colliers, CBRE, Cushman & Wakefield. As of Q4 2023, average asking rent was — with a 6.0% vacancy rate.
Projected current industrial pricing — Tucson
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q4 2023 multiple brokerages data (cap rate 7.9%, asking rent held flat). Assumes ~94% occupancy and a 72–88% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | — | 6.0% | 924K SF | — | Colliers |
| Q4 2023 | — | 2.6% | 0K SF | — | CBRE |
| Q4 2023 | $6.84/SF | 6.6% | 413K SF | — | Cushman & Wakefield |
| Q3 2017 | $4.80/SF | — | 310K SF | — | Cushman & Wakefield |
How the brokerage sources compare
For Q4 2023, the brokerages CREhunt aggregates for Tucson industrial did not fully agree. On vacancy, the sources span 4.0 points — from 2.6% (CBRE) to 6.6% (Cushman & Wakefield). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.
| Source | Vacancy | Asking rent | Cap rate |
|---|---|---|---|
| Cushman & Wakefield | 6.6% | $6.84/SF | — |
| CBRE | 2.6% | — | 7.9% |
| Colliers | 6.0% | — | — |
Per-brokerage figures for Q4 2023, aggregated from published brokerage market reports.
Frequently asked questions
- What is the average asking rent for industrial space in Tucson?
- CREhunt aggregates industrial asking-rent data for Tucson from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the industrial vacancy rate in Tucson?
- The industrial vacancy rate in Tucson was 6.0% as of Q4 2023 (Colliers).
- Where does CREhunt's Tucson market data come from?
- This report aggregates quarterly industrial market data for Tucson from Colliers, CBRE, Cushman & Wakefield.
- How much do brokerage estimates differ for industrial space in Tucson?
- For Q4 2023, the brokerage sources CREhunt aggregates for Tucson did not fully agree. On vacancy, the sources span 4.0 points — from 2.6% (CBRE) to 6.6% (Cushman & Wakefield). CREhunt reconciles these into a single consensus median rather than relying on any one brokerage.