PHOENIX—HBI International, dba BBK Tobacco & Foods LLP, a wholesale distributor since 1996, is consolidating its two Phoenix locations and expanding to a building owned by Cabot Properties, Inc. Cushman & Wakefield of Arizona negotiated the deal.
The 88,488-square-foot building at 3401 W. Papago St. will serve as the tenant's world headquarters. Occupancy will take place at the end of the year.
Jackie Orcutt tells GlobeSt.com, "The tenant was growing very quickly and wanted everything under one roof. The expansion was close to their current location. From start to finish we had all hands on deck to ensure this deal made it over the goal line. It is a victory for the client, Cushman & Wakefield brokerage, project/property management, for CRESA, and well-needed absorption in the West Phoenix market.”
Cabot Properties is a private equity real estate investment firm. It is an investor, developer and operator of industrial properties throughout North America and the United Kingdom.
Orcutt and John Grady of Cushman & Wakefield represented Cabot Properties. The tenant was represented by Ted Liles of CRESA.
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