PHOENIX-Following Liberty Property Trust's renovation of the 185,834-square-foot 2626 S. 7th St., the owner has signed its first tenant. Charter Towne Inc. signed a 44,868-square-foot lease at the former obsolete warehouse, which has been renamed Liberty Sky Harbor Center.
Charter Towne, a logistics company, will move into its new space in September. Jerry McCormick of CBRE and Brad Stuck at Transwestern represented the tenant in the transaction. Bob Crum of Ross Brown Partners in Scottsdale represented Liberty Property Trust.
Liberty acquired the obsolete and empty warehouse approximately a year ago and early in 2013, began a complete renovation of the property. The owner transformed the obsolete warehouse into a state-of-the-art, cross-dock distribution center.
Sustainable approaches to the building included the re-use of 85% of existing structures on site, recycling of asphalt, concrete and steel demolished as part of the redevelopment, installation of upgraded radiant insulation with an R-30 value, and the use of low VOC paint.
“Interest in the location was strong even before we completed the redevelopment of Liberty Sky Harbor Center just two months ago,” says John DiVall, senior vice president & city manager, Liberty Property Trust. “We are very pleased that Charter Towne has selected Liberty Sky Harbor Center to grow its business, and we are looking forward to sharing our modern, accessible and spacious approach to this property with other companies that are seeking a 'step up' in the quality of their facilities.”
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.
