Element Homes had a couple of years left on its existing lease in the 107,654-sf office building at 426 N. 44th St., according to Allen Aldridge, asset manager for Chicago-based CMD Realty Investors Inc. The two-year tenant will move into the expansion space on the second floor this month, Aldridge tells GlobeSt.com. He says the deal takes occupancy to 86% in the four-story One Gateway. The 20-year-old building, one of three in an office complex with 436,687 sf near Sky Harbor International Airport, has a quoted rate pushing $18 per sf. Michael Beall and Tom Johnston with Cushman & Wakefield of Arizona Inc. brokered the direct deal for CMD Realty.
© 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.
