The Depew, NY-based electronic presentations company committed to a five-year lease at 23606 N. 19th Ave. The lease is worth nearly $300,000, says Jeff Conrad, a principal with locally based Lee & Associates Arizona. He says the newcomer wanted a north Phoenix location with proximity to Loop 101. "They looked at the Scottsdale Airpark, but didn't like the rental rates there," he tells GlobeSt.com, adding the Deer Valley submarket offers good access to the Valley at better economics.
Stampede Presentation Products, planning a move-in within 90 days, will set up the space for showroom, warehouse and distribution uses. Michael Milic, vice president with Colliers International's local office represented the tenant while Conrad and partner Matt Hobaica represented the building owner, Santa Monica, CA-based EJM Development Co.
The 19th Avenue and Pinnacle Peak Commerceplex is a two-building development with 116,628 sf that delivered earlier this year. Occupancy is 15% with the new deal. Other local tenants are AHC Openings and Southwest Greens, both of which occupy 5,653 sf.
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
Already have an account? Sign In Now
*May exclude premium content© 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.