Search
 

Interwest Signs Long-Term Lease in Airpark

SCOTTSDALE, AZ-Interwest Distributing signs a seven-year, $3.099 million lease for 48,111 sf in a Scottsdale Airpark stand-alone building. The late-1990s distribution building will serve as the company's new headquarters and bring it closer to its main Scottsdale client base.

By Lee Simmons | Updated on May 26, 2004

SCOTTSDALE, AZ-They might be paying double their previous rent, but it’s worth it. Interwest Distributing, a distributor of high-end kitchen appliances to builders, has signed a seven-year lease worth nearly $3.1 million for a 48,111-sf stand-alone building in the Scottsdale Airpark. The deal ends a year of scouring the market for a new location that would bring the company closer to its main source ofbusiness in the Valley.”It was more a push to get into the market where their clients are,” Ken McQueen, a vice president at Trammell Crow Co. in Phoenix, tells GlobeSt.com. “We’ve been looking in that market for some time to find either land to do a build-to-suit or a lease arrangement like this.”Located at 15570 North 83rd Way, the late-’90s building will become Interwest’s corporate headquarters once the company completely relocates from its current Tempe facility by September 1. Besides proximity to clients, a large fenced yard, 24-foot clear height and three truck wells were additional incentives. Rents for distributionfacilities in the Airpark typically range from 75 to 85 cents per sf. McQueen, Andy Ogan and Mike Kitlica of Trammell Crow Co. negotiated the deal on behalf of Interwest; Joe Welchert of Colliers Classic represented the building owner, Avanti Park Properties of Mercer Island, WA.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.