Primarion Inc.'s executive team signed a four-year lease with a $300,000 payout for 3650 E. Weir Ave., says Andy Markham, a senior associate with Grubb & Ellis|BRE Commercial LLC, who teamed with Marc Tuite and Mike Haenel to represent Primarion and Lafayette, CA-based Bedford Property Investors Inc., owner of the nine-building, 101,800-sf industrial park.

"Primarion was looking for a freestanding building that offered a high office-to-warehouse ratio," Markham tells GlobeSt.com about the 1980s-era building. "And, they wanted to stay in the Sky Harbor submarket, which is where they've always been a tenant."

Primarion will vacate an 18,383-sf building at 2507 W. Geneva Dr. that's already been leased to a third-party logistics operator. Phoenix Logistics, also eyeing an April move, signed a 63-month lease for the building. The logistics company will exit 20,000 sf at 2202 E. Magnolia Ave.

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.