Under a freshly inked lease agreement with building owner Myron Zimmerman Investments, the East Valley cooling company will stay in its 23,472 sf warehouse and distribution space at 1171 North Fiesta Blvd. until 2008. "The building is very functional for them and they have a nice relationship with the owner," Rick Collins with Ross Brown Partners Inc. of Phoenix tells GlobeSt.com, referring to the reason behind Misty Mate's re-signing decision.
Collins declined to release information on the lease's value, but did say similar buildings in the Southeast Valley rent for 40 cents per sf to 44 cents per sf, triple net. The cooling and misting firm, which moved into the 84,000-sf warehouse five years ago, makes personal cooling products and misters for a wide variety of consumers, including the US Olympic Team, Arizona Cardinal Football Organization, Nascar, MLS Soccer and major league baseball teams. The building, constructed in 1987, also is home to Hunter Douglas Wood Products, a manufacturer of wooden blinds and custom shutters.
Collins, along with Collins, Cameron Boyd, and Curtis Brown, all with Ross Brown Partners, represented Misty Mate in the lease negotiations. The building owner had in-house director Paul Schiffman negotiate its terms.
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