The latest tenant to take up residence is the Decor Store, a Simi Valley, CA floral design and assembly firm that grabbed a five-year, $1.4-million lease on 39,062 sf in a deal that gave the company industrial lease rates at a property with retail exposure. "One of the big selling points is that they got an industrial building at industrial rates and have that retail exposure," Mark Detmer, an industrial specialist with Trammell Crow Co.'s Phoenix office tells GlobeSt.com.
The Decor Store will move into the complex, located at the northwest corner of Chandler Boulevard and Kyrene, in November. The firm will have a 10,000-sf showroom to sell floral arrangements, plants and trees to retailers.
Detmer and Bo Mills, also with Trammell Crow, represented the building owner, LIT Millenium Trust, part of New York City-based ING Clarion Partners, in the lease transaction. John Bulkley of Commercial Properties in Tempe was the tenant's representative.
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