Foresight Technologies, packing for a move to 1301 W. Geneva Rd., has been operating out of a 22,000-sf industrial building at 1401 McClintock Rd. in nearby Tempe. "Their business is growing and they felt the need to double their space," says Peter Klees, a senior vice president with Grubb & Ellis Co./BRE Commercial LLC.
The building, situated on about three acres, was on the market more than two years, Klees tells GlobeSt.com. "Industrial buildings over 40,000 sf in the East Valley aren't quite a hot commodity even though the market is coming back," he says, adding Shidler was looking to sell or lease it. The fully air-conditioned building has 10,000 sf of office finish-out.
Built in 1987, the Geneva Road building received two offers, according to Klees. The Tempe-based Atlas Resources first looked at the property about a year ago. Now it has a newer and larger building, Atlas Resources plans to sell or lease the Tempe location, Klees says. Mark Detmer and Bo Mills of Trammell Crow Co.'s local office represented Atlas Resources.
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