U-Haul: Tempe is No. 1 US growth city
From Phoenix Business Journal:
Tempe has come in at the top of the table for growth in 2017.
That is according to a new report by U-Haul International. U-Haul ranked U.S. cities on the number of truck rentals to those destinations. Tempe — which is home to Arizona State University — replaces another college town, Madison, Wisconsin atop the U-Haul growth list. Madison is home to the University of Wisconsin.
Tempe has seen job and real estate growth in its downtown area near ASU and Mill Avenue as well as in its southern areas home to the ASU Technology Park, a new campus being built by JPMorgan Chase & Co. (NYSE: JPM) and another new development which will be home to Arizona’s second Alamo Drafthouse Cinema.
Amazon.com Inc. (Nasdaq: AMZN) also has a technology center in Tempe.
U-Haul — which is owned by Amerco Inc. (Nasdaq: UHAL) — found one-way moving truck and van rentals to Tempe were up 39 percent last year while one-way departures were only up 1 percent.
Arrivals made up 54 percent of all one-way U-Haul truck traffic in Tempe. That helped give the East Valley city the top spot in the U.S. replacing Madison.
“There are a lot more apartments and condos coming in around the ASU campus,” said Whitney Beall, marketing company president of U-Haul Co. of Metro Phoenix and the Easy Valley. “Tempe is a centralized area in the Valley of the Sun. With easy access to connecting freeways and public transportation, it makes the DIY moving experience to Tempe much easier.”
Tempe has seen a post-recession building boom ranging from new apartments to State Farm’s big campus at Marina Heights on Tempe Town Lake.