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460,000-SF Listing Hits Street After Big Lease

KINGMAN, AZ-The broker says the timing of the 100,010-sf sublease and decision to sell is purely coincidental

By John McCloud | Updated on December 28, 2007

(Read more on the industrial market.)

KINGMAN, AZ-Barely a week after Contech Construction Products Inc. of West Chester, OH signed a six-year sublease with Cascades Tissue Group of Arizona for 100,010 sf, the building’s owner has put the property on the market as a net-lease opportunity. Big Industrial LLC of Prairie View, KS is asking $16.3 million for the 464,200-sf manufacturing and distribution facility.

According to Richard Danis, a senior vice president with Grubb & Ellis/BRE Commercial in Phoenix, the sublease was not a factor in the decision to sell. Danis is marketing the 4625 Interstate Way property with Paul Boyle and Anthony Lydon, also senior vice presidents in the Phoenix office. The building is fully leased to three tenants whose leases expire between 2011 and 2013. Danis says the building would have made an attractive investment opportunity even if Cascades Tissue had not found a subtenant for its excess space.

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