GES Exposition Services will make the move to its warehouse and distribution space at 1740 S. 40th Ave. in December. The company's $3.1-million rent payout factors out to about 50 cents per square foot. The tenant improvement is $12 per square foot. The convention and event services company, headquartered in Las Vegas, currently has its local warehouse and office facilities at 201 S. 15th Ave.
James Wilson, senior director with Cushman & Wakefield of Arizona Inc. in Phoenix, says GES Exposition didn't so much need more space as it needed different space. "The space they were in had become obsolete," the tenant rep says. "They needed to upgrade their office and warehouse and parking. They just needed the space configured in a different way and wanted to take advantage of the current market."
Wilson tells GlobeSt.com that the company focused its search on the city's west side and looked at five potential sites. Ultimately, the two truck court areas, combined with 9,000 square feet of office sealed the deal for the tenant. "The space is brand new, never been lived in," Wilson adds. "This provided a great ability for them to upgrade their image and their facility."
Continue Reading for Free
Register and gain access to:
- 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
© 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.