PHOENIX—An electrical product distributor is leasing a 90,152-square-foot office/warehouse at 4707 E. Baseline Rd. The tenant, who wishes to go unnamed, will operate a regional office and central distribution center from this location. The tenant is able to meet its objective two years earlier than initially planned and realize cost savings in a much shorter time frame than anticipated, says a source involved in the deal.
Pat Feeney, Dan Calihan, Rusty Kennedy, Mike Parker and Evan Koplan with CBRE's Phoenix office represented the landlord, Dalfen America Corp. of Westmont, Quebec, Canada. The tenant, a San Carlos, CA-based company, was also represented by Mike Parker, Evan Koplan, along with Pete Wentis and Kevin Cosca, also with CBRE.
The tenant's newly leased space comprises approximately 25,000 square feet of office space, with the remaining 65,000 square feet being warehouse and distribution space.
This corporate image industrial building constructed in 1996 was acquired by Dalfen America Corp. in August 2013. The property benefits from access to the I-10 freeway, arterial street presence and proximity to Phoenix Sky Harbor International Airport. The building is now 66 percent leased with the tenant taking occupancy May 1st; the property has 47,000 square feet of available space.
"We were extremely fortunate to find an existing facility that met the tenant's location and physical parameters in a moment in time where we could advance their overall strategic objective of consolidating a few scattered business units into a centralized Metro Phoenix distribution center," says Parker, industrial specialist and first vice president with CBRE.
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