"We're getting good activity. We already have three prospects we're going to build for," Matt Hobaica with Lee & Associates Arizona, tells GlobeSt.com, referring to the interest generated by Sunstate's plans. The developer plans to subdivide the land, located at the northwest corner of 17th Avenue and Williams Road adjacent to the Deer Valley Airport, into one or 1 1/2-acre lots. Construction on the build-to-suit project is slated to begin within the first six months of this year.

Hobaica declined to say which firms have expressed interest in the project, but said at least three of the subdivided parcels will have airplane taxiway access. "There's a very strong demand for small industrial lots in Deer Valley," he noted. "There's just not a lot of improved industrial lots available."

Hobaica along with Mark Linsalata and Bob Kling, all of the Phoenix-based Lee & Associates Arizona, represented both the buyer and seller, First Industrial Trust, in the transaction.