Snyder’s-Lance expanding in Phoenix
Your favorite salty snack firm, Snyder’s-Lance, is expanding its Phoenix footprint with plans to move into ViaWest Group’s Tiger Industrial Center near Van Burnen Street and 51st Avenue.
Synder’s-Lance will take up 37,422 square-foot of the 103,064 square-foot two-building facility, which is located one mile south of a full-diamond interchange on the I-10 Freeway.
This property was only 16 percent leased when ViaWest purchased the asset in January 2015 and now stands at approximately 60 percent just one year later.
This lease marks another notable occasion for ViaWest’s Select Strategies Fund focused on the acquisition of general industrial properties in Southwestern, U.S. “We’ve recently finalized many value-add enhancements at the property and it’s great to see that this has been well-received in the market,” said Brad Dales of ViaWest.
Snyder’s-Lance creates and markets snack foods internationally, including pretzels, potato chips, crackers, cookies, nuts and more. They have production facilities in 9 states and are headquartered in Charlotte, North Carolina.
“We are excited to add another top-tier company to this project and look forward to growing our relationship with Snyder’s-Lance,” said Danny Swancey with ViaWest.
Riley Gilbert with Jones Lang LaSalle’s Phoenix office represented the Owner on the Snyder’s-Lance lease and is currently marketing the remaining 43,588 SF available in the project. Cooper Fratt with CBRE’s Phoenix office represented the Tenant.
Riley Gilbert of Jones Lange LaSalle cites “responsive management, functional lease-ready space, and great access to the I-10 freeway” as some of the factors that attracted Snyder’s-Lance. JLL will continue to market the project’s remaining vacancy.
ViaWest’s Fund includes several Arizona properties, an industrial center in El Paso, and is currently searching both locally and in neighboring states for new acquisitions.