EastGroup Project Leased to Arizona Nutritional Supplements

Business News | 28 Oct, 2013 | AZRE

EastGroup Properties, LLC has leased the 126,251 SF EastGroup@Chandler Freeways industrial property to Chandler-based Arizona Nutritional Supplements for 7-plus years with a lease valued more than $5M. Occupancy is slated to begin in January 2014 when the building is complete.

The new tenant, Arizona Nutritional Supplements is a privately-held company that manufactures supplements directly from its Chandler facilities. EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets.

The Koss/Louer Team, featuring principals Stein Koss and Tom Louer of Lee & Associates Arizona brokered the transaction between EastGroup and Arizona Nutritional Supplements ahead of building completion. The company saw the unique value of a state-of-the-art property such as EastGroup@Chandler Freeways.

The property, located at 6850 W. Morelos Place in Chandler will feature 30-foot clear height ceilings, 6 grade-level doors, high power capacity, large truck court, ample parking and an ESFR Sprinkler system. The property is situated near the convergence of the Loop 202 and Loop 101 in Chandler with direct access to area shopping, transportation, employment and recreational corridors.

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