KBI took down 7,500 sf in a five-year lease while Carrier, through a seven-year deal, took over the balance of the building at 3781 North Highway Dr. The transactions are expansions for both companies, which have other locations in the area.
Robin Lamont with CB Richard Ellis Tucson LLC, who represented KBI and the building's local owner, Eckenrode Properties, says both leases required tenant improvements. "This was warehouse space to begin with, that's being converted. A good portion of the improvements are complete," Lamont tells GlobeSt.com, "and both companies are trying to move in before April."
The quoted lease rate was 55 cents per sf, triple net. Lamont says the final rate ended up pushing 70 cents per sf due to tenant improvements. "They split the TIs and the landlord took on some of them," she adds. Mike Beck with Kemmerly Real Estate LLC of Tucson also represented the building owner while Carrier was self-represented.
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