The Phoenix office of Jones Lang LaSalle completed a 240,000 SF industrial lease in Tolleson for Pennsylvania-based Communications Test Design, Inc. (CTDI).
The long-term lease is part of a national third-party service contract with Cox Communications that will generate approximately 200 new local jobs and fill one of the last three existing, scalable industrial building solutions in the Phoenix market.
“Demand is filling Phoenix’s larger blocks of available industrial space,” said Jones Lang LaSalle Managing Director Marc Hertzberg. “When we evaluated CTDI’s market options, there were really only three viable spaces that could fill their needs. Now that this lease has been executed, there are only two such spaces left in Phoenix for similar users.”
Hertzberg, SIOR, represented CTDI in the lease negotiations with industrial team partner Anthony J. Lydon, SIOR and also a Managing Director in the Phoenix office of Jones Lang LaSalle, and Jackson Cross Partners, which represents CTDI nationally.
The Phoenix CTDI lease is one that will allow the company to service, repair or recycle Cox Communications network equipment, creating jobs ranging from operations to engineering to warehousing, and supporting a centralization/standardization process for Cox.
“Being just 1.5 miles off of I-10 was a major draw for CTDI, who needs efficient Valleywide access to serve Cox customers and business lines,” Lydon said. “LBA’s creativity and financial strength was another deciding factor. It will allow CTDI to occupy their new building very quickly.”
CTDI will take possession of its new space by 4Q 2012. The building is at 8602 W. Buckeye Rd. and is comprised of 238,000 SF of warehouse space and 2,695 SF of speculative office space. It is part of the Westside Business Park, a 66-acre, 1.1 MSF project that is home to other leading warehouse tenants including Staples, CostCo, Bose and International Paper.