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PHOENIX-Aiming to establish a centralized distribution center, Villagio Tile & Stone has leased 25,295 sf of warehouse space in MainSpring Cotton Center. The five-year pact has a payout of $1 million.

The tile and stone distributor has two locations and its headquarters in Scottsdale, according to Mike Kane, a senior vice president with Colliers International Inc.’s local office. The company will move into 4219 E. Broadway Rd. this month, he says.

Villagio began looking for a third location about six months, ago, Kane tells GlobeSt.com, but put the expansion on the back burner for several months. “The timing was right because the space in MainSpring Cotton Center is just now finished,” he explains, adding the new construction particularly appealed to Villagio. “The location and the price were also great.”

With the Villagio lease, the 115,000-sf MainSpring Cotton Center is now 80% leased with just 22,940 sf remaining. Kane handled negotiations for Villagio while Curtis Brown and Rick Collins with Ross Brown Partners Inc. of Phoenix represented the local owner, MainSpring Capital Group.

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