Professional Packaging jumped at a deal with a quoted rate of 27 cents per sf gross on a monthly basis. The financial sweet spot was put in place by US Container Corp. of Los Angeles because "they didn't want to sit on the vacancy for very long," TJ Swearengin of Phoenix-based Lee & Associates Arizona tells GlobeSt.com about the recent purchase and immediate lease-up. "The motivation was the rate," he says, explaining comparable industrial space in the submarket is quoting 44 cents per sf gross. Swearengin and Rick Lee brokered the three-year lease with the tenant's rep, Skip Corley of Daum Real Estate Services Inc. in Phoenix.
In another move-in, LandCorp, a janitorial supply firm, took 4,420 sf with a two-year lease for a 15,000-sf building in the Huntington Tech Center at 2415 W. Huntington. Again, the building owner was "very aggressive," Swearengin says of the Robert Morrison Group. The deal for the "ready to go" administrative office space was brokered by Swearengin and Chris McClurg.
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