CHANDLER, AZ-Arizona Nutritional Supplements has signed a seven-year deal to take the entire 126,251-square-foot EastGroup@Chandler Freeways industrial facility. The tenant signed the approximately $5 million contract with landlord EastGroup Properties LLC less than six months after ground broke on the facility.
Lee & Associates Arizona principals Stein Koss and Tom Louer brokered the lease for the property at 6850 W. Morelos Place. The tenant, a privately held company that manufactures supplements, will move into the facility upon its completion in early 2014.
EastGroup@Chandler Freeways is situated on 10.5 acres in the Chandler Freeways Business Park, owned by Ryan Cos. US. Inc. Ryan Cos. is the general contractor on the development and Butler Design Group provided architectural services.
“We continue to invest in Arizona as one of our five core states. We believe the Greater Phoenix industrial market has recovered to the point where there are shortages in certain types of industrial properties, justifying a limited amount of speculative construction,” said Bill Petsas, EastGroup senior vice president during May 2013, when construction began on EastGroup@Chandler Freeways.
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