PHOENIX-As part of its acquisition by 2-20 Records Management LLC, Arizona Records Storage Center LLC is expanding its local presence with a 139,070-square-foot lease at Papago Distribution Center Building Two.
The long-term deal represents the largest lease ProLogis has signed in the Phoenix market, according to Jeff Foster, vice president and market officer for ProLogis in Phoenix. It also is one of the larger leases to be signed in the market at large, he points out.
The Arizona Records Storage lease brings ProLogis’ 3.3-million-square-foot Phoenix portfolio close to 85% occupancy, Foster tells GlobeSt.com. “We’re right in line with the market,” he adds.
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