PHOENIX—Expanding companies are pushing Phoenix industrial absorption rates for the third year and counting. The Valley recorded absorption of more than 6 million square feet of industrial space as of mid-year. This includes more than 1.2 million preleased square feet that is under construction and slated for completion by year end.
One of those expanding companies is set to open next week. In its first-ever Arizona location and its only distribution center outside of California, Tire's Warehouse Inc. has signed an 83,000-square-foot lease. The location allows the well-known tire distributor to get a foothold in another Western state.
The new facility, which is located at 1502 E. Buckeye Rd., brings TWI to seven distribution centers across the West, including one new center just opened in Northern California's Union City. The distribution center will generate as many as 50 new jobs for the Valley within the first two years of operation.
“Opening the doors of our first distribution center in Arizona is a monumental step for our company,” said Dan King, president of TWI. “The recent success of our new Northern California branch has helped us to prepare for continued market expansion into all new territories. Our entire team has been working diligently to support our rapid growth and we are very excited to bring our exceptional service and dealer programs to our new Arizona customers.”
JLL associate Kyle Westfall and executive vice presidents, Pat Harlan and Steve Sayre, represented Tire's Warehouse in the lease negotiations. The property landlord, Harrison Properties, represented itself.
“Expanding companies like Tire's Warehouse are helping to drive Phoenix industrial absorption rates,” Westfall tells GlobeSt.com. “As of mid-year, the Valley was on pace to absorb more than 6 million square feet of industrial space for the third year in a row. This includes more than 1.2 million square feet that is under construction, committed to tenants and slated for completion by year end.”
With its new Phoenix location, TWI now operates a total of 600,000 square feet of space and 100 delivery trucks, serving dealers throughout California, Nevada and Arizona.
“TWI's selection of Phoenix as its first distribution center outside of California speaks volumes about our strength as a consumer market and our strategic position in the distribution supply chain,” said Westfall. “TWI is one of many companies expanding into Arizona and putting these advantages to work for their operations and their customers.”
PHOENIX—Expanding companies are pushing Phoenix industrial absorption rates for the third year and counting. The Valley recorded absorption of more than 6 million square feet of industrial space as of mid-year. This includes more than 1.2 million preleased square feet that is under construction and slated for completion by year end.
One of those expanding companies is set to open next week. In its first-ever Arizona location and its only distribution center outside of California, Tire's Warehouse Inc. has signed an 83,000-square-foot lease. The location allows the well-known tire distributor to get a foothold in another Western state.
The new facility, which is located at 1502 E. Buckeye Rd., brings TWI to seven distribution centers across the West, including one new center just opened in Northern California's Union City. The distribution center will generate as many as 50 new jobs for the Valley within the first two years of operation.
“Opening the doors of our first distribution center in Arizona is a monumental step for our company,” said Dan King, president of TWI. “The recent success of our new Northern California branch has helped us to prepare for continued market expansion into all new territories. Our entire team has been working diligently to support our rapid growth and we are very excited to bring our exceptional service and dealer programs to our new Arizona customers.”
JLL associate Kyle Westfall and executive vice presidents, Pat Harlan and Steve Sayre, represented Tire's Warehouse in the lease negotiations. The property landlord, Harrison Properties, represented itself.
“Expanding companies like Tire's Warehouse are helping to drive Phoenix industrial absorption rates,” Westfall tells GlobeSt.com. “As of mid-year, the Valley was on pace to absorb more than 6 million square feet of industrial space for the third year in a row. This includes more than 1.2 million square feet that is under construction, committed to tenants and slated for completion by year end.”
With its new Phoenix location, TWI now operates a total of 600,000 square feet of space and 100 delivery trucks, serving dealers throughout California, Nevada and Arizona.
“TWI's selection of Phoenix as its first distribution center outside of California speaks volumes about our strength as a consumer market and our strategic position in the distribution supply chain,” said Westfall. “TWI is one of many companies expanding into Arizona and putting these advantages to work for their operations and their customers.”
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