Industrial Archives

Opus plans speculative industrial project in Longbow Business Park

by in AZRE Magazine | Construction | Industrial

The Opus Group (Opus) announced today plans to build a speculative industrial project in the Longbow Business Park and Golf Club in Mesa. Construction on the 147,672-square-foot project, named Longbow Gateway One, is slated to begin this month, with project completion scheduled for January 2018.  “We are excited to develop this project in the Southeast… Read More →

Phoenix industrial market hits lowest vacancy rate since 2006

by in AZRE Magazine | Industrial

The Phoenix industrial market reflected strong growth and a healthy local economy during the second quarter, according to CBRE research. Net absorption increased from 1,673,016 square feet (sq. ft.) during the first quarter of 2017 to 3,118,456 sq. ft. during the second quarter of the year. Meanwhile, overall vacancy decreased from 8.2% to 7.7% during Q2… Read More →

2017 proves to be year of growth for Phoenix industrial market

by in AZRE Magazine | Industrial

Out-of-state relocations, an ongoing economic recovery and job growth were all contributing factors in lowering the Phoenix industrial vacancy rate to 9.2% while rental rates ended the second quarter at $.59, which is an increase over the previous quarter, according to DAUM’s second quarter market report. During the quarter, net absorption for the overall Phoenix… Read More →

JLL will lease Skyway Commons — new spec industrial project

by in AZRE Magazine | Industrial

The Phoenix office of JLL has earned the leasing assignment for Phase I of Skyway Commons, a fully speculative new Class A industrial project that has broken ground in the northwest Phoenix submarket. Totaling 110,221 square feet, Skyway Commons Phase I is designed to meet burgeoning demand from small to mid-sized general industrial users with divisibility down… Read More →

Phoenix industrial market absorption continues to outpace new construction

Dexcom
by in AZRE Magazine | Industrial

The Phoenix industrial market is teeing up for its fourth consecutive year in which absorption gains outpace new construction, according to the Q2 Phoenix Industrial Insight Report released Wednesday by the Phoenix office of JLL. According to JLL, nearly 60 percent of newly completed industrial properties are pre-leased at delivery, with large users taking advantage of new product… Read More →

Market upside helps JLL sell Phoenix Logistics Center

Strong market performance and continued confidence in Phoenix’s industrial market future has spurred the $18.4 million sale of Phoenix Logistics Center – sold this week by the Phoenix office of JLL on behalf of a joint venture between Overton Moore Properties and PCCP LLC, and acquired by Colony Northstar. JLL Managing Directors Bo Mills and Mark Detmer, and Vice President Ryan Sitov represented… Read More →

Tempe industrial park sold for $19.1M

Cushman & Wakefield completed the sale of Kachina Industrial Park, located at 1805-1850 W. Drake Drive in Tempe on behalf of Northern California-based Kieckhefer Properties. Libitzky Holdings LP of Emeryville, Calif. purchased the property for $19.1 million. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller. Kachina Industrial… Read More →

312SF Parc Pinnacle Industrial Project breaks ground

by in AZRE Magazine | Construction | Industrial

Dallas-based Jackson-Shaw has partnered with Las Vegas-based LaPour Partners Inc. to break ground on Parc Pinnacle, a 311,840-square-foot, three-building speculative industrial project in Deer Valley, Arizona. The Phoenix office of JLL was granted the leasing assignment for the new development. “We have had a successful history developing quality industrial products in Deer Valley over the… Read More →

Goodyear lands new $180M UPS facility

UPS announced plans today for a new $180 million package processing hub in Goodyear, near the Loop 303 Freeway and I-10, to increase its processing capacity for e-commerce. The phased hub construction modifies a 618,000-square-foot structure on 140 acres in the PV303 Development. A portion of the building is expected to begin operating later this year in… Read More →

Wine distributor buys Phoenix facility for $20.5M

Wine distributor
by in AZRE Magazine | Brokerage | Industrial

On behalf of Young’s Market Company of Arizona, a family-owned distributor of wines, spirits and select beverages, Cushman & Wakefield recently negotiated the purchase of 402 S. 54th Place in Phoenix for $20.5 million. The seller was Los Angeles-based Barley Equites V LLC. Andy Markham, SIOR, Will Strong, Mike Haenel and Phil Haenel of Cushman & Wakefield represented Young’s Market Company of Arizona. The team represented Young’s in previous site selections, including the… Read More →

DeMichele Group buys Chandler Airpark asset for relocation

by in AZRE Magazine | Industrial

Newmark Grubb Knight Frank (NGKF) announced the purchase of 2110 S. Douglas Drive, Building B, in Chandler, AZ. The 17,149-square-foot Class A industrial asset located in the Chandler Airpark will be the new home for DeMichele Group, a privately owned provider of software and equipment for the fenestration industry. NGKF’s Executive Managing Director Jerry Jacobs… Read More →

Gilbert Orbital ATK offices sell for $5.5M

Orbital ATK offices in Gilbert
by in AZRE Magazine | Industrial

A California-based investment firm purchased the Orbital ATK offices in Gilbert near Baseline Road and Country Club Drive for $5.5 million. The 73,283-square-foot industrial facility at1405 N. Fiesta Blvd. in Gilbert was sold to Abington Emerson Investments by an undisclosed seller. The single-story industrial facility sits on a 5.2-acre site and was built in 1998. “Fiesta… Read More →

Dexcom renovates warehouse into medical device manufacturing space

Skanska, one of the largest construction and development firms in the United States, is finishing construction on phase one of Dexcom’s facility located at 232 S. Dobson Road in Mesa. This 145,000-square-foot project is a build-out of an existing shell building. The first phase includes the renovation of a 60,000-square-foot industrial warehouse to medical device manufacturing space… Read More →

Scottsdale industrial facility sells for $285k

Scottsdale industrial facility
by in AZRE Magazine | Industrial

A Scottsdale flex/industrial condo facility near the Loop 101 and Bell Road sold for $285,000 to an individual buyer, Charles Comolli, Jr., according to ORION Investment Real Estate, the brokerage firm on the deal. ORION’s Nick Miner, represented both the buyer and the seller, OMF Holdings LLC, in the deal. The facility, 90th & Bahia Business Park Condos… Read More →