Work has begun on the facility, which has a price tag of $11 million, says John Strittmatter, president of Ryan Southwest. He would not disclose the lease consideration with Ryan Cos. US Inc., but similar deals have a value of $7 million to $8 million. The facility, which will be completed in late summer, sits on 21 acres in Yuma Commerce Center near the intersection of Interstate 8 and South Araby Road.
Strittmatter tells GlobeSt.com that Alside chose the Yuma site for its proximity to Southern California and Arizona's favorable tax structure. "This new facility will serve Texas, Arizona and California," he says, adding Alside will employ 80 people to begin with and will ramp up to 150 people in 2006.
Phoenix-based Dickinson Architects designed the facility, one of several Ryan has built for Alside. The Minneapolis-based developer is finishing up a distribution facility for Alside in Ennis, TX, a suburb of Dallas.
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.