Lincoln Property Co. has completed construction the first phase to Lincoln Commerce Park, a four-building development and the its first project in Phoenix. Dave Krumwiede, Lincoln's executive vice president and head of the Southwest US division, tells GlobeSt.com that high visibility and a central location southwest of the Interstate 17 interchange and near Sky Harbor Airport has generated tremendous interest in the multi-purpose industrial property.
"We've had strong activity," Krumwiede says. "We think we'll have it leased within 12 months."
Krumwiede says two tenants are prepared to sign leases, including one who plans to use the space to consolidate it's operations in one central location. The property is leasing in the 50 cents per sf triple net range with available space ranging from 6,000 sf to 67,000 sf, he says.
Located on 14 acres, the single-story buildings feature recessed glass storefronts, metal entry canopies and multi-colored walls. Nearly 20 adjacent acres have been reserved for the project's second phase and any build-to-suit tenants that come along. The remaining parcel could accommodate an additional 300,000 sf building, Krumwiede says. Lee & Associates Arizona, headquartered in Phoenix, is leasing the development.
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