Search
 

Triple Industrial Play Pushes Occupancy to 99%

CHANDLER, AZ-The leasing team at Arizona Corporate Plaza closes three deals totaling 14,445 sf, getting long-term commitments and a $375,000 combined payout. The 11-building complex was 20% empty when the year began.

By Jennifer D. Duell | Updated on October 20, 2004

CHANDLER, AZ-After beginning the year nearly 20% vacant, Arizona Corporate Plaza has reached 99% occupancy with a series of back-to-back, long-term leases totaling 14,445 sf. The combined payout is $375,000.

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.

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.