American Best LLC, inked a seven-year, $1.7-million lease on the 48,949-sf industrial building. Once renovations are done, subsidiary Goettl Air Conditioning will move from 3830 E. Weir Ave. in Phoenix into the Tempe building, Jim Harper with Trammell Crow Co.'s Phoenix office tells GlobeSt.com.
The 1845 W. First St. property, built about two years ago and owned by SGH Partners LP of Anaheim CA, sat vacant since its construction because of "functional problems" that primarily included an unfenced yard and a lack of truck wells, Harper says. "We asked more questions about the building and were able to fit it to our needs," he adds, explaining the property owner has agreed to fence the yard and add a double truck well for the new tenant.
For American Best, the additions meant a good deal on a building that sits in a prime location near the Loop 101 and 202 freeways. "It's a phenomenal location and we got a great financial deal on it," says Harper, who represented the tenant in the transaction.Jerry Marrell and Rick Robertson, both with Lee & Associates Arizona, negotiated the deal for the building owner.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
