Monterrey Tile, with a main showroom site in nearby Gilbert, is tapping into a 130,000-sf, 15-year-old warehouse at 401 E. Ray Rd. in Chandler. "Over the five-year term of the lease, the average per sf is about 33 cents," says Pete Klees, senior vice president with Grub & Ellis/BRE Commercial LLC in Phoenix. He tells GlobeSt.com that the deal provided much-needed storage for Monterrey, which already has a showroom location geared toward construction contractors at 225 W. Baseline Rd.
"There's been a tremendous growth in their business," Klees says. "And with this deal, they received a warehouse building and seven acres of land on which they can store more tiles. This is a smoking deal for them."
Klees and Steve Mardian of Grubb & Ellis/BRE Commercial represented Monterrey Tile. Carl Johnson with Johnson Commercial Properties in Tempe brokered the deal for the local building owner, 401 E. Ray Road LLC.
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