Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MESA, AZ-With a five-year prelease in hand, the Carter Cos. has penciled a July 7 groundbreaking for a $7.25-million office/warehouse project in the East Valley. The construction catalyst is a 31,712-sf deal for the 73,385-sf Falcon Crest Business Center.

Jump-starting construction on the 4030 E. Quenton Dr. project is Ergonomics Solutions Inc., which will be expanding when it relocates to the finished product in first quarter 2009. Garrett Schoenberger, senior associate for Grubb & Ellis/BRE Commercial LLC in Phoenix, tells GlobeSt.com that the building is the first new construction in the Falcon Field submarket in nearly 18 months, with its delivery timed to coincide with the completion of the last leg of Loop 202.

Schoenberger says the submarket is an emerging industrial corridor that’s destined to transition from its traditional smaller buildings to larger ones after the loop is completed. He says Canton, OH-based Timken Corp.’s 85,000-sf buildings at Falcon Field not only are the newest, but the largest in the corridor. On average, the submarket’s buildings are 10,000 sf to 20,000 sf and often owner-occupied. “You’re going to see more distribution buildings in that submarket,” he says, “and this is kind of the start of that.”

Phoenix-based Carter bought the 5.75-acre development tract in 2005, staking its first claim in the East Valley on the north side of Commons Industrial Park. “They were going to start it as spec,” Schoenberger says. “This just helped.” He says the deal’s been working through the pipeline nearly six months.

Schoenberger says Ergonomics Solutions stepped up in response to the brokerage company’s marketing materials, striking a direct deal for the new space with a five-year lease embedded with a five-year renewal option. The manufacturer of ergonomic office furniture and accessories will be picking up about 15,000 sf of extra operating room when it moves from 250 S. Mulberry St. in Mesa. The deal calls for 5,000 sf of ground-level office and 3,000-sf of mezzanine-level office and the 23,712-sf balance as light assembly and distribution space.

Falcon Crest Business Center, designed with a 24-foot clear height, will include six 7,500-sf bays. The building will have 10 truckwells and eight grade-level doors. The quoted rate is 85 cents triple net with a $13 per sf tenant-improvement allowance, according to Schoenberger, who is partnered with senior vice president Andrew Markham to market the building.

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?


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.