The 11-building, 124,000-sf industrial complex at 2775 N. Arizona Ave. attracts incubator companies and small users, says Pete Klees, a senior vice president of Grubb & Ellis/BRE Commercial LLC in Phoenix. "These smaller companies are finally feeling more confident and are leasing space." He and Grubb & Ellis associate Kent Hanson represented the property owner, Los Angeles-based Pacific Equities.
Klees and Hanson also represented Bozsi Engineering, a circuit board designer and manufacturer, in a relocation from 12535 N. 77th Dr. in Peoria to 3,300 sf in Arizona Corporate Plaza. "They needed to be closer to their customer base," Klees explains.
Laura Becker of Daum Commercial Real Estate Services negotiated the 4,657-sf lease for Arizona Children's Association, which is moving from 600 W. Ray Rd. "The space was ready for them to move in," Klees says, "and they liked the visibility."
Newly established technology company DayOne Inc. took 4,260 sf. It was represented by John Buckley, previously with Commercial Properties Inc.
"With these leases, Arizona Corporate Plaza is outperforming the market," Klees says. The Chandler industrial market was 11% vacant at the end of the third quarter, according to Grubb & Ellis.
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