A CB Richard Ellis Inc. brokerage team in Phoenix scoured the market for about four months before settling on a Phoenix speculative project of Buzz Oates Cos. of Sacramento, CA, CBRE's Dan Calihan tells GlobeSt.com. In addition to Calihan, the team included Pat Feeney, Joe Porter and James Dingeman. Buzz Oates used in-house representation to broker the deal.

The new product consists of twin 323,000-sf buildings. Feeney says they settled on the warehouse because of the flexibility that it offered to Ford, the world's second-largest automaker. Cross-dock capability coupled with more than 250 feet of maneuverability space in front of the building and 200-plus feet of turning space and trailer storage in the rear made it an ideal fit. Plus, Feeney points out, it comes with room for expansion on the rear of the site.

Feeney says the warehouse also was particularly attractive to Ford from a financial and logistical standpoint. "It's a very economical location from the viewpoint of both personal and property taxes," he says. "And there is easy freeway access available at 43rd and 51st avenues."

Buzz Oates is one of the West Coast's largest commercial real estate development companies. It has built more than 60 million sf and manages a portfolio in excess of 20 million sf, bearing a value of more than $1 billion. The Buzz Oates hierarchy contains upward of 100 venture partners.