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Industrial Trio Seals Off 23,219 SF

PHOENIX-In the southwest submarket, Frontier Distributing takes a 9,210-sf building while Wheel Group likes up 10,177 sf in a multi-tenant building. The third deal puts Synscapes into 5,832 sf in Lincoln Commerce Park.

By Lee Simmons | Updated on June 08, 2004

PHOENIX-Three industrial users ink new leases, totaling 25,219 sf, as rental opportunities step in where for-sale product has been lacking.

Phoenix wine and liquor distributor, Frontier Distributing, drafted a three-year lease for a 9,210-sf building at 3443 W. Earll Dr. in the southwest sector. The lease is valued at $165,000 for building owner, Arizona Industrial Properties Inc. of Phoenix. Located two miles from its former location, Frontier was lured by the opportunity to expand, says its broker, Jeff Conrad with the Phoenix-based Lee & Associates Arizona.

“The leasing market seems to have picked up since the beginning of the year,” Conrad tells GlobeSt.com. “Ultimately the feeling is the economy is better, hiring is getting stronger and the inventory of available buildings for sale or land for sale is so diminished that leasing is happening.”

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