CMC Wireless Components Inc. will pay about $200,000 to building owner, Price-Elliott Research Park Inc. under a three-year lease that will give the company new administrative offices and warehouse space in the 44,392-sf, single-story building located within the Arizona State University Research Park in Tempe.
Tyler Smith with Grubb & Ellis/BRE Commercial tells GlobeSt.com that the firm, which will relocate its offices from 10409 S. 50th Place in Phoenix, selected the building because of its close affiliation with Arizona State University, which owns and manages the park. "The tenant wanted to be affiliated with ASU and the layout was good for them," Smith says of the relocation decision.
Smith along with Shawn Greenway and Bruce Calfee, also with Grubb & Ellis/BRE Commercial, represented the property owner in the lease negotiations. David Barrett with CB Richard Ellis Inc. bargained on the tenant's behalf.
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