Tag Archives: Steve Sayre

Oblique & Renderings of Airport I-10-1

Airport I-10 announces three national tenant leases

Just as Airport I-10’s 600KSF Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased.

The new tenants at Airport I-10 include:

• DLS Worldwide, a major, volume-leveraged third-party logistics provider, leasing 78,843 square feet in Building B for a new headquarters, light manufacturing, assembly and distribution facility.

• DHL, the world’s leading postal and logistics group, leasing 40,529 square feet in Building E for a regional parcel delivery hub.

• Pilot Freight Services, a worldwide provider of transportation and logistics services, leasing 31,824 square feet in Building E for centralized pick-up and delivery service operations.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and JLL Associate Kyle Westfall represented Wentworth/Clarion in all three leases. Mike Gordon of Cresa represented DLS. John Werstler, Jerry McCormick and Cooper Fratt of CBRE represented Pilot. Jim Wilson of Cushman & Wakefield represented DHL.

The new leases join with a 63,470-square-foot pre-lease completed by JLL in mid-2014 with Anixter International, Inc., a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts.

Inclusive of Anixter, this brings JLL’s new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project’s three-building, 600,000-square-foot Phase I at 35 percent leased, before construction is even finalized.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” said Harlan. “They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix’s industrial distribution network. We couldn’t be more pleased with the companies that have committed to space here,” said Wentworth Property Company Principal James R. Wentworth. “They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket’s best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

Sapphire Scientific leased 31KSF at 21430 N. 15th Ln. in Phoenix.

Sapphire Scientific leases 31KSF in Phoenix

Commercial Properties, Inc., announced the lease of a 31,034 SF industrial suite located at 21430 N. 15th Ln. in Phoenix. John G. Soldo, SIOR of CPI’s Tempe Industrial Group represented the tenant in this transaction.

The property is a multi-tenant warehouse building owned by Columbia Arizona 15Th Industrial LLC, and is located just south of the Deer Valley Airport and south of Deer Valley Road and 15th Lane in Phoenix. The reinforced concrete building was built in  2005 and offers the new tenant immediate access to the I-17, Loop 101 and SR-51 freeways.

John G. Soldo, SIOR said, “The new tenant, Sapphire Scientific, Inc, designs and manufactures the industry’s most powerful, efficient truck mounted carpet cleaning accessories. The Class A, institutional property offered them 30′ of clear height, truckwell and grade level loading for their equipment.  Sapphire Scientific is headquartered in Prescott, Arizona, so this location off I-17 was ideal for my client.”

Steve Sayre represented the landlord, Lincoln Property Company.

JLL-Clarion-Kuehne-CGrande

JLL leases 200KSF in Casa Grande

The Phoenix office of JLL has completed a 201,666-square-foot, five-year warehouse/distribution lease with global logistics company Kuehne + Nagel, Inc. in Casa Grande. The lease establishes Kuehne & Nagel’s presence in the Central Arizona market—a growing site selection consideration for industrial distribution and logistics users in the Western United States.

“For the right users, Pinal County definitely offers an alternative to the high costs of Southern California industrial space,” said JLL Executive Vice President Pat Harlan, who represented building owner Clarion Partners along with JLL Executive Vice President Steve Sayre and JLL Associate Kyle Westfall.

According to JLL’s Q1 Industrial Report, warehouse/distribution space in Pinal County has done well in the past 24 months, dropping from 17 percent vacancy in 2012 to 13.1 percent vacancy today. Although absorption has remained flat, market recovery is pushing developers to consider new industrial and warehouse projects in the area.

“Creating an inland port environment in and around Casa Grande—half way between Phoenix and Tucson—would allow companies to move their products from California’s ports directly to a more cost effective, inland location, then on to the rest of the U.S.,” said Harlan.

Kuehne + Nagel’s new space is located at 2592 E. Hanna Rd., approximately five miles southeast of central Casa Grande and directly adjacent to Interstate 10. With approximately 63,000 employees at more than 1,000 locations in over 100 countries, the Kuehne + Nagel Group is one of the world’s leading logistics companies.