The tenant signed a five-year deal, valued at $1.6 million over its term. Its new address is Eastbank, a flex building at 3809 E. Watkins St. Sun State Builders developed the concrete, tilt-wall product. Xeba took the space because it was air conditioned and available for immediate occupancy, according to a prepared statement from CB Richard Ellis.
Jerry McCormick, John Werstler and John Pompay, all of CB Richard Ellis Inc.'s Phoenix office, represented the building owner, Chamberlain Family Trust LLC of Tempe. Dave Johnson of the Phoenix office of Lee & Associates Arizona brokered the tenant side of the package.
The north airport submarket has 11.5 million sf of industrial and flex inventory and a vacancy of 3.78%. The airport area's south submarket contains 15.1 million sf, of which 11.49% is sitting empty.
© 2025 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.
