Valley office experts are watching these key submarkets in 2023

Jan 1, 2023, 5:00 AM
(Jim Poulin/Phoenix Business Journal)...
(Jim Poulin/Phoenix Business Journal)
(Jim Poulin/Phoenix Business Journal)

John Bonnell is wrapping up the year with a slew of tours.

In the week leading up to Christmas, the managing director for the Phoenix office of brokerage firm JLL estimated he and his team hosted multiple office tours for prospects in spaces between 1,000 to 30,000 square feet. Normally, he said he might have one tour during that period, so he thinks that interest can carry over into 2023.

Moving forward, Bonnell said he is watching the West Valley and Deer Valley submarkets, particularly the ripple effects from the investments made by Taiwanese Semiconductor Manufacturing Co. The $40 billion investment by TSMC includes a campus at full build-out that could total six factories in north Phoenix. The company has also said it is working with 40 suppliers that are moving or expanding to the Phoenix area and in Pinal County south of the Valley.

“If I’m a company and I do business with TSMC … [I’d start] coming in 2023 if [TSMC] delivers by 2024,” Bonnell said. “It’s going to be really interesting in the next two to three years. The West Valley, especially the northwest, can just explode beyond how anyone comprehends. Our growth is west.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

In this photo provided by Navajo Technical University, graduates at the school stand during a cerem...
Associated Press

Navajo Tech 1st among tribal universities to offer PhD

A school on the largest Native American reservation in the U.S. launched its accredited doctoral program, becoming the first tribal college or university in the country to offer such a high level degree.
16 hours ago
A Salt River Project team samples the snowpack in Happy Jack, between Payson and Flagstaff, on Feb....

Arizona’s high country could see more snow throughout next week

The National Weather Service says more snow could be coming to the Flagstaff area Saturday and again at the end of next week.
16 hours ago
(KTAR News Photo/Taylor Tasler)...

Officer shot in ‘ambush’ in south Phoenix, suspect arrested for attempted murder

An officer suffered non-life-threatening injuries after being shot Friday morning by a suspect who was identified on Saturday.
16 hours ago
(Facebook Photo/Pueblo Grande Museum and Archaeological Park)...

Phoenix’s Pueblo Grande Museum changing name to reflect Indigenous heritage

The Pueblo Grande Museum and Archaeological Park in Phoenix is changing its name to reflect the site's Indigenous history.
16 hours ago
Courtesy Maricopa County....

New $61 million Southeast Justice Center opens in Mesa

Members of the Board of Supervisors, Justice Courts and Superior Court celebrated the opening of the Southeast Justice Center Wednesday.
16 hours ago
(AP Photo/Jose Luis Magana, File)...

2 arrested in Mexico on charges of human smuggling in Arizona

Two people are facing human smuggling charges in Arizona after being arrested in Mexico, authorities announced Wednesday.
16 hours ago

Sponsored Articles

(Desert Institute for Spine Care in Arizona Photo)...
Desert Institute for Spine Care in Arizona

5 common causes for chronic neck pain

Neck pain can debilitate one’s daily routine, yet 80% of people experience it in their lives and 20%-50% deal with it annually.
Quantum Fiber

How high-speed fiber internet edges out cable for everyday use

In a world where technology drives so much of our daily lives, a lack of high-speed internet can be a major issue.
(Desert Institute for Spine Care photo)...

Why DISC is world renowned for back and neck pain treatments

Fifty percent of Americans and 90% of people at least 50 years old have some level of degenerative disc disease.
Valley office experts are watching these key submarkets in 2023