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PHOENIX-Furniture Values International LLC found space for expansion, taking over the 323,345-square-foot warehouse and distribution facility recently vacated by Amazon.com Inc. While Amazon made plans to shift its warehouse and distribution business to 513,407 square feet at Goodyear Crossing in Goodyear, AZ, Furniture Values signed a seven-year lease for the 10-year-old Valley West Distribution Center.

CB Richard Ellis senior vice president William D. Bayless tells GlobeSt.com that expansion was the sole reason for taking space at 601 N. 75th Ave. in the southwest valley submarket. The locally based Bayless, who partnered with CBRE sales associate Andrew Brigham on behalf of the tenant, says Furniture Values also wanted a more modern facility.

Building owner Myron Zimmerman Investments in Oakland, CA, has also cooperated in the area of buildouts, Bayless comments. The owner, represented in-house by Paul Schifman in Zimmerman’s Scottsdale, AZ office, built out about 20,000 square feet for office space and display areas.

Bayless says Furniture Values has all but relocated from its 150,000-square-foot building at 2929 N. Grand Ave., though the lease doesn’t start until mid-February. Bayless kept mum about the consideration, but similar space in the southwest can lease for between $.50 and $.70 per square foot, net.

Though Furniture Values was looking at several buildings in southwest Phoenix for its relocation, Valley West Distribution Center was appealing in several areas. “It was the right size for them and the appearance is great,” Bayless remarks. “It had everything the tenants were looking for.”

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