Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-In a relocation and expansion move, HD Supply Facilities Maintenance Ltd. has taken down a little less than half of the recently completed 380,740-sf warehouse in Buckeye Logistics Center. The wholesale distribution company has inked a five-year deal for 174,769 sf, effective in January.

HD Supply is the first tenant to take space in the warehouse at 6825 W. Buckeye Rd., bringing occupancy to 46%. The quoted rate is $4.56 per sf, triple net.

The warehouse is one of two acquired in the spring by Des Moines-based Principal Global Investors from the Alter Group of Chicago. A 303,495-sf warehouse at 6923 W. Buckeye Rd. also is vacant.

Gregory White, senior vice president with CB Richard Ellis in Phoenix, says the lease capped off a yearlong, valley-wide search by HD Supply for expansion space. The tenant rep tells GlobeSt.com that the company’s management team examined 25 properties. “This facility worked well because it offered lower operational costs and an ideal location,” he says.

White says HD Supply’s existing 90,000-sf building at 1590 E. Riverview Dr. is now available. CB Richard Ellis has the leasing assignment.

Pat Harlan, senior director in Phoenix for Cushman & Wakefield of Arizona Inc., says a transaction that’s the size of HD Supply’s is significant in a market with 265 million sf and 9.2% vacancy. “This is a quality credit tenant,” says Harlan, who represented Principal Global with Cushman & Wakefield associate director Steven Sayre and client coordinator Katy Boyd. “It’s a sizeable chunk of space in this market, which is really good news.” He adds that the activity for both buildings has been fairly stable although he declined to discuss potential deals for the 162-acre Buckeye Logistics Center.

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.