The buyer of record, Philip & Henderson LLC of Chandler, is a manufacturer and distributor of private label vitamins and supplements. The 14,468-sf warehouse at 3305 N. Delaware St. will be used just for one brand name, Tom Knaub, Colliers International's vice president of marketing in Phoenix, tells GlobeSt.com.
Arizona Nutritional Supplements' building, situated on 1.08 acres, was in fact a necessity to holding onto its customer. The brand name client requires orders to be manufactured and packaged apart from other orders. John Sellers of Remax Excalibur Realty represented the buyer.
The Chandler product, though coming to market as spec, is attracting interest of buyers and tenants, says Knaub. He, Colliers' vice president Mike Parker and associate Ben Craney are in the midst of talks with a tenant seeking a five-year lease with a one-year purchase option while conducting daily showings to those exploring the pluses of buying in today's market. Parker says the activity is particularly noteworthy since there are "seven or eight" buildings in the immediate area jockeying for the same trade. Chandler Industrial Development is led by principal Richard Weiss, who helped broker the Philip & Henderson transaction.
Chandler Industrial Development's spec quartet is positioned near Arizona 60 and Loop 101. The marketing team and developer are quoting 65 cents per sf triple net, if leasing is what will fill the properties. Of course, each building lined up along Delaware Street is still carrying a "wish" price.
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