Tag Archives: Amr Ceran


Lincoln Property signs 552,330 SF industrial lease

Lincoln Property Company (LPC) has completed a 552,330-square-foot lease that will fully occupy a Phoenix industrial building and bring approximately 200 new jobs to the Southwest Valley.

The undisclosed distribution user will move into its new space in October and will fully occupy the project, located 7037 W. Van Buren Street in Phoenix. It will use the building to service a major requirement from a distribution-centric Fortune 50 company. It will also hire approximately 200 employees.

JLL Managing Directors Marc Hertzberg and Anthony Lydon represented LPC. Tom Louer of Lee & Associates represented the tenant.

“This lease is a great example of a positive Arizona industrial market,” said Hertzberg. “This user chose Phoenix after a multi-market search that included Northern and Southern California. It then chose this building, in particular, from among a very competitive local inventory that includes five or six newly constructed, nearby alternatives.”

According to LPC, the new distribution user selected the 7037 W. Van Buren Street property because of its close proximity to Interstate 10 and the building’s existing infrastructure, offering a critical speed to market.

“The 7037 property had virtually all of the needed build-out specifications already in place, including lighting and cooling requirements, existing dock equipment and approximately 10,000 square-feet of office space. Competing buildings didn’t have those improvements or a Certificate of Occupancy for immediate move-in,” said Lincoln Property Company Vice President Amr Ceran. “We were able to work quickly with all parties to take advantage of that benefit.”

Totaling 552,330 square feet, the project offers 31.5- to 35.5-foot clear heights, 57-foot column spacing, 100 truck bays, cross-dock and front-load configurations, energy-efficient lighting and modern electrical, cooling and ESFR systems. It also sits within a Foreign Trade Zone, which represents a significant potential for real and personal property (equipment) tax reductions and duty deferral or elimination.

“Phoenix occupies one of the most strategic and cost effective supply chain locations in the West,” said Lydon. “That is a powerful combination for logistics operators.”

Camelback Square, WEB

National tech company signs 30KSF lease in downtown Scottsdale

Lincoln Property Company signed a 30,000 SF lease with a nationally platformed technology tenant at the Camelback Square office project in downtown Scottsdale. The confidential tenant commitment brings the Class-A building to 95 percent occupancy.

Bill Blake, Craig Coppola, Andrew Cheney, Colton Trauter and Gregg Kafka of Lee & Associates serve as the listing team for Camelback Square. Bryce Terveen of CBRE represented the tenant.

“Downtown Scottsdale is a truly unique combination of business, dining, shopping and entertainment,” said Lincoln Property Company Vice President Amr Ceran. “It is easy to understand why companies want to locate here, and we do all we can as an owner/manager to make sure we’re complimenting that choice with very positive tenant relationships and lease deals that are a win-win scenario for everyone.”

With the new lease, the 172,690-square-foot, three-story Camelback Square is now 95 percent occupied to tenants including Regus, Echo Global Logistics, Paramount Financial, Ashton Woods, Carefree Financial, Barker Education and Mastro’s City Hall Steakhouse.

“This is a very stabilized occupancy position for Camelback Square, even when compared to South Scottsdale’s recovering office vacancy rate, which is performing competitively in the low teens,” said Ceran.

LPC and Los Angeles-based investment firm Oaktree Capital Management purchased Camelback Square out of special servicing in June 2011. Since that time, LPC has completed a major renovation including new building entrances, lobby and common area finishes, a courtyard fountain and furniture, and upgraded building signage. As property owner and manager, LPC also initiated an aggressive leasing plan that moved the project from just 50 percent occupied to almost 100 percent occupied.

Camelback Square is located at 6991 E. Camelback Rd., at the southwest corner of Camelback and Scottsdale roads. It sits adjacent to the 2 million-square-foot Scottsdale Fashion Square regional mall and includes on-site amenities such as the award-winning Mastro’s City Hall Steakhouse, a casual deli and a building conference room.