The latest deal for the 116,000-sf building at 23606 N. 19th Ave. lifts occupancy to 70%. Jeff Conrad, principal with Phoenix-based Lee & Associates Arizona, says the tenant will move into the office/warehouse space in the fourth quarter. "They'll be using the property for administration, warehousing and distribution of patio furniture and other related furniture products," adds Conrad, who with colleague Matt Hobaica, represented the property owner, EJM Development Co. of Phoenix. Andy Kroot of local firm, DeRito Partners, represented Today's Patio.
Conrad tells GlobeSt.com that there are other deals under way for the Commerceplex. "The leasing velocity of this project and Deer Valley, as a whole, over the past six months, has been substantial," he adds. The owner's team opens talks at 54 cents per sf to 66 cents per sf, triple net.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
