GlobeSt.com previously reported that the value of Solon America's initial lease was slightly more than $8 million. The expansion at 3000 E. Elvira Rd. puts the overall consideration of both leases at around $10 million.
Robert L. Davis, senior vice president with Grubb & Ellis Co.'s Tucson office says the solar panel production company had to make room for another production line in space originally slated for inventory. The solution was to take partial space from the 100,000-square-foot industrial building next door. "They had to find auxiliary, or expanded space nearby," says Davis, the tenant representative. "They've been growing and this could keep happening."
Because of that it's a good thing that the Tucson Commerce Center at consists of four buildings totaling 400,000 square feet. William L. DiVito, senior vice president with Grubb & Ellis' Tucson office tells GlobeSt.com the space Solon America took had been recently vacated by another tenant. DiVito, who represented landlord Intercontinental Real Estate Corp. in the transaction, adds that the remaining space is currently empty. "They can take the remainder, if they want," DiVito says.
Both brokers comment that Tucson Commerce Center seems to be attracting the alternative energy companies. Another tenant at the center is Sion Co., which is researching and developing various types of battery power. DiVito adds that he and Davis, along with Grubb & Ellis' vice president Howard Kong, who was also involved with the Solon deal on the landlord side, are still talking with more potential tenants for the center, though declined to discuss specifics.
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