Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-The city’s lagging southwest submarket has gotten a strong boost with the signing of two long-term leases that will put a Fortune 500 company and an office furniture distributor into nearly 28,000 sf at the Martin Van Buren Business Park.

“Southwest Phoenix has the highest vacancy rates in the valley, ” Bo Mills, vice president of the industrial division for Trammell Crow Co., tells GlobeSt.com. “ To absorb that amount of space is good for the market.” Mills, who brokered both deals, said Ryder Logistics, a leader in transportation management solutions, and office furniture distributor the Manning Group, will take over the space at the 502 N. 37th Dr. office complex. Five months ago, Sleep America exited the site. Each lease is valued at around $258,968, he said.

Ryder Logistics, a Fortune 500 company, will occupy about 14,000 sf with the Manning Group taking a similar-size chunk in the 236,000-sf office park, owned by ProLogis Trust of Aurora, CO. In addition to Mills, the Trammell Crow bargaining team included Mark Detmer and Justin Carlson. The team worked out the terms for both building owner and tenants.

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


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.