PHOENIX-Liberty Property Trust will begin redevelopment and renovation of a newly acquired industrial building at 2626 7th St. here in January 2013. The company has rebranded the property, which it purchased in September of this year, Liberty Sky Harbor Center, and expects to complete construction during the second quarter of the year.
“The redevelopment of Liberty Sky Harbor Center comes at a time when interest is high in well-located, efficient industrial space,” said John DiVall, SVP and city manager for Liberty's Arizona region. “This is more than a facelift; it's a repositioning of the property that will be attractive for potential tenants seeking a cross-dock warehouse building with expansive outside area in the Sky Harbor International Airport submarket, which is virtually non-existent today.”
DiVall anticipates beginning the work with the demolition of a smaller office building on the east end of the property. That area is slated for an expansive parking area for trailers and outside storage. New dock doors will be installed along the south side of the building, along with a new concrete truck court. The existing fencing will be relocated back to the property line on the south and southwest sides, and high-efficiency site lighting will be added.
Work on the building itself will include the installation of additional dock doors on the south, east and west sides and new asphalt throughout the property. Improvements will also include energy-efficiency steps such as a complete roof overlay, new R-11 insulation to be added to the underside of the roof deck, native landscaping for water conservation and the use of low-VOC paint on the interior and exterior.
Liberty, which owns approximately 2 million square feet of industrial and office space in Arizona, purchased the property this fall from Emerik Properties Corp. The seller was represented by Jerry McCormick of CBRE, and Liberty was represented by Bob Crum of Ross Brown Partners, who will also have the leasing assignment.
As GlobeSt.com reported last week, ADO Products has signed a lease to become the first tenant in a new speculative industrial building that Liberty Property Trust developing in Rogers, MN. It will expand its warehouse from 30,000 square feet to 60,000 square feet at 13220 Wilfred Lane North.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
