Conn Appliances signed a 10-year lease for 277,649 SF at Trammell Crow Company’s Phase I of the Coldwater Depot Logistics Center in Avondale.
Trammell Crow Company, one of the nation’s largest commercial real estate developers and investors, and Clarion Partners, a real estate investment manager, announced the deal today.
“We are pleased to welcome Conn’s to Coldwater Depot Logistics Center, and we are confident this facility will provide them with the environment they need to serve existing and new customers throughout the Phoenix area,” said Jim Mahoney, Senior Managing Director with Trammell Crow Company’s Phoenix Business Unit.
“The growth and expansion of such a large electronics retailer will bring jobs and a renewed confidence in the Phoenix job and retail market.”
Headquartered in Beaumont, Texas, Conn’s, a specialty retailer of home appliances, furniture, mattresses and consumer electronics, operates in 68 locations in Texas, Louisiana, Oklahoma, New Mexico and Arizona.
The new distribution center will serve seven new Conn’s retail locations throughout the greater Phoenix region and employ 80 to 120 workers.
“This has been a true partnership between the City of Avondale and Trammell Crow Company for the past three years,” said Dan Davis, Economic Development Director for the City of Avondale.
“Everyone involved has shown an unwavering commitment to the success of the project. The capital investment, construction jobs created during the building of the facility, and the new jobs that Conn’s brings to the area will add to the growing and sustainable economy in Avondale.”
Coldwater Depot Logistics Center is a fully zoned and entitled 66-acre master-planned industrial park located along Interstate 10 at 127th Ave. in the heart of the Southwest Phoenix industrial market.
The park is planned for 1.2 MSF of cross-dock distribution warehouse space upon full build-out. Phase 1, currently nearing completion, is comprised of approximately 604,000 SF of space.
The facility has access to local, regional and national markets via an integrated network of interstate and intrastate freeways and is pursuing Foreign Trade Zone designation.
Rusty Kennedy and Pat Feeney with CBRE’s Phoenix office represented ownership in the transaction. Matthew Keener and Brian Ashby of CBRE’s Houston office and Dan Calihan of CBRE’s Phoenix office represented the tenant.