Tag Archives: Wentworth Property Company

Airport I-10

Anixter commits early to Airport I-10 spec development

Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have secured a benchmark 63,000-square-foot tenant lease commitment this week at Airport I-10 Business Park—one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history.

The lease, made by Illinois-based Anixter International, Inc., fills almost half of Airport I-10’s “Building E” months before anticipated shell construction completion.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and JLL Associate Kyle Westfall represented the building owner. John Werstler, Jerry McCormick and Cooper Fratt of CBRE represented Anixter.

“It is rare in today’s Phoenix industrial market to secure lease commitments on a spec property that’s still under construction—before tenants can physically see and touch the space,” said Harlan. “The fact that Anixter has signed on at Airport I-10 at this early stage speaks volumes. It is a welcome post-recession event and a strong statement about the caliber of the project and our industrial market as a whole.”

“We are extremely pleased to welcome Anixter,” said Wentworth Property Company Principal James R. Wentworth. “A commitment by such a large, well respected company confirms Airport I-10 Business Park as the preferred airport location for corporate users. It also underscores the ongoing need for new, high quality industrial product in the Airport submarket. This area continues to rank among Phoenix’s top industrial locations but has an extremely limited supply of land.”

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 slated for completion in fall 2014. For more insight from Harlan, visit http://bit.ly/1ps2sgj.

According to JLL research, while there is limited inventory of modern industrial space within the Sky Harbor Airport submarket, demand continues to climb. Of the 40 million square feet of industrial space in the submarket, only 218,052 square feet was built in 2009 or later. Yet in 2013, the Airport submarket still represented almost 30 percent of the more than 3.5 million total square feet of industrial space absorbed Valley-wide.

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.

Anixter International, Inc. is a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts. It operates approximately 210 warehouses in more than 250 cities and more than 50 countries.

Motorola Tower

Tempe Radio Tower Makes Room For Future Innovations

A piece of the Valley’s technology history came down last Saturday to make room for a business campus targeting high-tech and innovative companies.

The old Motorola radar tower at Elliott Road and the Loop 101 was demolished. Rising in its place will be the Discovery Business Campus, a 136-acre mixed-use office park designed for today’s companies with an eye to the future. View a video of the future site.

“A piece of the tower will be preserved on the campus to honor the legacy of the scientists and innovators who fundamentally changed how we share information,” said Jim Wentworth, Jr., principal of Wentworth Property Company. Wentworth is developing the site where Motorola Government Electronics Division employees tested and refined military communication technology. Freescale Semiconductor now occupies the Motorola facility.

“The Discovery Business Campus will attract the next generation of companies working to make their marks,” Wentworth said. “We’re designing the campus to be appealing not only to the companies, but also the community around us. The campus will be bike-commuter friendly with direct access from the canal path and our neighbors will be welcome to enjoy the future lake. An interior ring road can host charity walks and other community events.”

In addition to Freescale, the site also has three existing buildings with room for 1.6 MSF for Class A office, flex office, hospitality and retail development. Wentworth and its partner, Northwood Investors purchased the property from Freescale Semiconductor for $53.7M in 2011.

The tower was built in the mid-1970s to test Motorola’s radar technologies. Large military communications trucks would come to the site for system and equipment testing. Motorola stopped using the tower as a testing site in the mid-1980s. Since then the tower has been used by a Motorola amateur radio club, a Freescale HAM radio club and as a T-Mobile cell phone tower.

Dickens Quality Demolition of Phoenix did the job.