"You can get exactly what you want, but usually it's more expensive," Greg Dodge, a senior associate at Grubb & Ellis/BRE Commercial in Phoenix, tells GlobeSt.com. "Special purpose facilities like this one are hard to find."
AIM Leasing Co. Inc. of Girard, OH, signed a lease with $652,000 payout to property owner, the Jerry L. Ivy Trust of Northern California. Site work has begun on a 2.4-acre tract at 1655 W. 10th Place, with the plan calling for an October completion, Dodge says. GSS Co. Inc. of Scottsdale is the general contractor.
AIM, with one location in West Phoenix, leases and maintains a fleet of semis and local delivery trucks. Tempe's strict building codes made the build-to-suit negotiations a rocky experience, according to Dodge. "They want all their buildings to look pretty. There were a lot of requirements that had to be adhered to," he says.
AIM's lease includes one five-year option to renew, according to Stein Koss of Lee & Associates in Phoenix. Dodge represented AIM in the lease negotiation while Koss negotiated for the property owner.
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