Tag Archives: industrial lease

1002EUniversity, Creative Interiors, WEB

Creative Touch Interiors Signs 37KSF Lease

Cushman & Wakefield has inked a 37KSF, three-year lease with Creative Touch Interiors, dba HD Supply, at EastGroup Properties’ 1002 E. University Drive in Phoenix. The firm’s Phoenix-based team of Jackie Orcutt, John Grady and Jim Wilson represented EastGroup, a Jackson, MS-based self-administered equity REIT. The tenant was represented by Pat Feeney of CBRE.

The tenant, which has relocated within the Phoenix marketplace, is a provider of interior finish solutions, as well as maintenance, repair, infrastructure and power services for the construction industry. The location will be utilized as a showroom and design center.

“The building provided an ideal location and build-out for the tenant’s needs,” said Orcutt. “EastGroup has an incredibly streamlined negotiation and lease preparation process, enabling us to move through the transaction very efficiently.”

With the signing, the 73,080-square-foot 1002 E. University Drive is fully leased. “We are pleased to have reached 100 percent occupancy on behalf of EastGroup,” said Orcutt.

Creative Touch Interiors’ new location is part of a three-building complex totaling 177,000 square feet. Located in the heart of Phoenix near a full interchange of University Drive and 7th Street, 1002 E. University Drive’s features include a 7,200-square-foot office component and 26-foot ceiling heights. Its design and location have positioned it for will-call and showroom requirements.

The metro Phoenix industrial market itself posted a positive net absorption in 2013, with a particularly strong showing in the southwest Phoenix submarket. “It’s exciting to see industrial commerce reinvent itself in this market,” said Orcutt. “The local economy is seeing employment growth in such diverse industries as trade and transportation, and the professional, scientific and technical industries — and that has started to pay off.”

“We have also seen the vacancy rate drop below 10 percent, and that has sparked new construction activity,” she said.

4707 E. Baseline Rd., WEB

CBRE Negotiates 90KSF Industrial Lease

CBRE has negotiated a 90,152 SF office/warehouse lease at 4707 E. Baseline Rd. in Phoenix.

Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s Phoenix office represented the landlord, Dalfen America Corp. of Westmont, Quebec, Canada. The tenant, a San Carlos, Cailf.-based distributor of electrical products, was represented by Mike Parker, Evan Koplan, Pete Wentis and Kevin Cosca, also with CBRE.

We were extremely fortunate to find an existing facility that met the tenant’s location and physical parameters in a moment in time where we could advance their overall strategic objective of consolidating a few scattered business units into a centralized Metro Phoenix distribution center,” said Mike Parker, industrial specialist and first vice president with CBRE. “We were able to meet their strategic objective two years earlier than initially planned and realize cost savings in a much shorter time frame than anticipated.”

The tenant’s newly leased space comprises approximately 25,000 square feet of office space, with the remaining 65,000 square feet being warehouse and distribution space. The electrical product distributor will operate a regional office and central distribution center from this location.

This corporate image industrial building constructed in 1996 was acquired by Dalfen America Corp. in August 2013. The property benefits from excellent access to the I-10 freeway, arterial street presence and proximity to Phoenix Sky Harbor International Airport. The building is now 66 percent leased with the tenant taking occupancy May 1st; the property has 47,000 square feet of available space.