Phoenix's Select Top Industrial Leases for Q4 2011

The following is an account of the Phoenix market's select top 10 industrial lease transactions for fourth quarter 2011.

Cornerstone Services, Inc. leased 337,897 square feet in Interstate Logistics Center at 7210 W Van Buren St. in Phoenix. Patrick Feeney, Daniel Calihan and Rusty Kennedy of CBRE represented the tenant and the landlord, Wentworth Property Company LLC.

T.J. Maxx signed a three-year lease for the entire 302,640-square-foot building in Tolleson Distribution Center at 9704 W Roosevelt St. in Tolleson. Art Wegfahrt and Les Cranmer of Studley, Inc. represented the tenant. Anthony Lydon and Marc Hertzberg of Jones Lang LaSalle represented the landlord, Prologis.

CGB Enterprises, Inc. signed an 18-month deal for the entire 208,835-square-foot property in Reywest Commerce Center at 109 N 37th Ave. in Phoenix. Matthew McDougall of Lee & Associates represented the tenant. Patrick Feeney and Daniel Calihan of CBRE represented the landlord, Cobalt Capital Partners LP.

Maxwell Technologies, Inc. leased the entire 123,048-square-foot building in Arrowhead 101 Business Park at 8644 W Ludlow Drive in Peoria. CBRE represented both sides of the transaction. Bill Bayless represented the tenant, while Patrick Feeney, Daniel Calihan and Rusty Kennedy represented the landlord, The Mack Company.

Northdown Industries renewed 84,000 square feet at 4635 W Colter St. in Glendale. The company signed a five-year deal for the entire property. The tenant did not use a broker. John Regester of Schaller Real Estate LLC represented the landlord in-house.

Summit Warehouse & Logistics LLC signed a three-year lease for 76,800 square feet in Park 75 West at 7102 W Roosevelt St. in Phoenix. The third-party logistics company already occupied the other half of the 153,600-square-foot property. Robert Stephens and Tricia Gumulka of Grubb & Ellis Phoenix represented the tenant. Joe Porter, Patrick Feeney, Daniel Calihan and Rusty Kennedy of CBRE represented the landlord, First Industrial Realty Trust, Inc.

Plastics General Polymers renewed 70,000 square feet in Kyrene Commons I at 455 W Diamond Drive in Tempe. Rick Collins of CD Commercial Advisors represented the tenant. Jeff Foster of Prologis represented the landlord in-house.

SXC Health Solutions signed a seven-year lease for 65,645 square feet in Thistle Landing at 4805 E Thistle Landing Drive in Phoenix. Pat Williams of Jones Lang LaSalle represented the tenant. Bill Blake, Colton Trauter, Craig Coppola and Andrew Cheney of Lee & Associates represented the landlord, Principle Equity Investments.

US Airways renewed 61,997 square feet at 8140 S Hardy Drive in Tempe. Steven Corney, Andrew Medley, Pat Williams and John Wyss of Jones Lang LaSalle represented the tenant. RREEF America LLC is the landlord.

Hajoca Corp. leased 60,550 square feet in Granite Commerce Center at 405 N 75th Ave. in Phoenix. Jerry McCormick and John Werstler of CBRE represented the tenant. Will Strong, Jackie Orcutt, Bo Mills and Mark Detmer of Cushman & Wakefield, Inc. represented the landlord, BlackRock, Inc.

The information in this news report is based on CoStar’s Fourth Quarter 2011 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.