Media Inquiries Mary Beth Campbell Communications Manager 602.222.5083

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The Southeast Valley industrial market is beginning to cool due to the protracted slowing in residential construction. Metro Phoenix single family home permits are coming off all-time highs of ±61,000 permits in 2004 and ±63,500 permits in 2005. Single family permits are projected to slow to 22,000 to 24,000 in 2008 (R.L. Brown Housing Reports). The resulting impact is that residential construction contractors, sub-trades and related industries have all reduced their workforce by one-quarter to one-third. The effect of this precipitous reduction in residential...