X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

GILBERT, AZ-Following a summer 2006 move-in and opening of its new plant, United Solutions Inc., formerly known as United Plastics Corp., has expanded its space, adding an additional 45,000 sf to its original 80,000 sf at the Intesys Building. The two seven-year deals leave 85,000 sf empty at the 1989-constructed, 210,000-sf building.

The ask on the remaining space at 1250 N. Fiesta Blvd. is $.75 per sf, triple net. According to Pete Klees with Grubb & Ellis/BRE Commercial LLC’s Phoenix office, the tenant’s consideration was less. “This deal was simply based on happenstance. They got in there and realized they didn’t have enough room. They expanded into an empty warehouse there, so it worked out,” says Klees, who with Grubb & Ellis/BRE’s Steve Mardian, represented Greenlee Texton, the property owner.

Klees tells GlobeSt.com that the 120,000-sf building was a perfect match for United Solutions, as the predecessor in the space was also a plastics injection company. Though the space had been vacant for close to two years, little in the way of improvements or build-outs were necessary. The new space will accommodate 70 new employees.

As for the remaining space, Klees says that there’s been some interest. “We’ve had a couple of tire-kickers, but nothing definite or under contract as yet,” he adds. He indicates that United Plastics could take some more space down the road, but “that’s pretty far off, and isn’t immediate.”

James Harper with Trammell Crow Co’s Phoenix office represented United Comb & Novelty Corp., United Plastic’s parent company. The company is headquartered in Leominster, MA.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Awards 2020Event

These awards honor the industry's most influential and 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 © 2020 ALM Media Properties, LLC. All Rights Reserved.