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TEMPE, AZ-Cactus Bolt of Arizona, a distributor of industrial fasteners, has renewed its lease on 25,619 sf in the Alameda Distribution Center under a five-year, $525,000 agreement with building owner, ProLogis.

Rick Collins with Ross Brown Partners tells GlobeSt.com that the tenant, which has kept its warehouse and office operation at the single-story, multi-tenant building for the past six years, opted to stay in the 2910 S. Hardy Dr. property in Tempe because of the positioning near the Valley’s freeway system and below-market rental costs. The building is located within the Broadway Industrial Park.

“Functionally, the building works for them,” said Collins, who spent a month negotiating the renewal with ProLogis, one of the largest owners of distribution space in the world.

The Aurora, CO-based ProLogis, holds more than 200 million sf of distribution space at 1,700 facilities throughout North America, Europe and Asia. Patty Stevens with ProLogis negotiated its side of the deal.

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