CBRE announced that Phoenix Logistics, an aerospace and defense manufacturer based in Mesa, Arizona, has leased 31,029 square feet of space at 1405 N. Fiesta Blvd. in Gilbert, Arizona.
Evan Koplan, Serena Wedlich and Mike Parker with CBRE Industrial & Logistics in Phoenix represented the landlord, Los Angeles, California-based Abington Emerson, a real estate investment firm specializing in value-add assets. Andy Jaffee and Rex Griswold with Commercial Properties Incorporated represented the tenant.
The 73,283-square-foot mixed-use building with distribution, manufacturing and office space sits on approximately 5.2-acres and is less than a mile from the US 60 and Country Club Drive interchange. Built in 1998, the site, which formerly housed Orbital ATK’s East Valley office, features a strong corporate image.
“As construction prices continues to increase, taking a space like this from shell condition would have a considerable impact on rental rates. The landlord, an extremely responsive ownership with a creative approach to fill vacancy, was able to offer Phoenix Logistics a move-in ready building with improvements already in place,” said CBRE’s Koplan. “This allowed for a seamless transaction process, creating a competitive advantage that offered immediate value for Phoenix Logistics.”
1405 N. Fiesta Blvd. is a well-located asset with convenient freeway access, providing a functional layout for Phoenix Logistics’ long-term tenancy. The property’s existing improvements include full air conditioning, heavy power, 26-foot clear height, truck well and grade level loading and an abundance of parking.
Founded in 1991, Phoenix Logistics specializes in providing engineering, manufacturing, information technology, and logistics and supply chain services to the defense, aeropsace and industrial markets. The company will occupy the space in the fourth quarter of 2018.
