X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-The Northwest US furniture manufacturer, Stanton Industries, signs for 78,406 sf of manufacturing space in a five-year deal valued at about $1 million. The industrial site is located at 2225 S. 43rd Ave. in Phoenix.

Matt Hobaica of the Phoenix office of Lee & Associates Arizona confirms to GlobeSt.com that it is the furniture maker’s first Arizona manufacturing location. He and Lee & Associates broker, Dave Johnson, escorted the tenant to about 20 properties before 43rd Avenue got the nod.

Hobaica says the deal’s clincher was the 15-year-old warehouse, spanning more than 200,000 sf, previously was used for furniture manufacturing. And, it came with a 55,000-sf option. Jim Wilson and Rob Stephens, both of Cushman & Wakefield of Arizona Inc.’s Phoenix team represented the warehouse owner, Miliani Group.

Hobaica says the area’s industrial market is picking up. Several 100,000-plus-sf tenants looking are for space. But, he says, with tenants in the drivers’ seats, negotiations are taking longer than usual.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.