Sunday, March 29, 2015

JLL Signs 151,000 SF, Three Major New Tenants at Airport I-10 Business Park in Phoenix, AZ




Pat Harlan
PHOENIX, AZ – Just as Airport I-10’s 600,000-square-foot Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased.

The new tenants at Airport I-10 include:

• DLS Worldwide, a major, volume-leveraged third-party logistics provider, leasing 78,843 square feet in Building B for a new headquarters, light manufacturing, assembly and distribution facility.

• DHL, the world’s leading postal and logistics group, leasing 40,529 square feet in Building E for a regional parcel delivery hub.

Steve Sayre
• Pilot Freight Services, a worldwide provider of transportation and logistics services, leasing 31,824 square feet in Building E for centralized pick-up and delivery service operations.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and JLL Associate Kyle Westfall represented Wentworth/Clarion in all three leases.
Mike Gordon of Cresa represented DLS. John Werstler, Jerry McCormick and Cooper Fratt of CBRE represented Pilot. Jim Wilson of Cushman & Wakefield represented DHL.

The new leases join with a 63,470-square-foot pre-lease completed by JLL in mid-2014 with Anixter International, Inc., a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts.

Kyle Westphall
Inclusive of Anixter, this brings JLL’s new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project’s three-building, 600,000-square-foot Phase I at 35 percent leased, before construction is even finalized.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” said Harlan. 

“They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. 

"Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix’s industrial distribution network. We couldn’t be more pleased with the companies that have committed to space here,” said Wentworth Property Company Principal James R. Wentworth.

James R. Wentworth
“They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket’s best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. 

Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

For a complete copy of the company’s news release, please contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195

Renovations Underway at Royal Palm Office Park in Plantation, FL


Royal Palm Office Park, Royal Palm Beach, FL

Roy Paskow
PLANTATION, FL – Lincoln Property Company has begun a multi-million dollar renovation of Royal Palm Office Park, the iconic Class A, suburban office complex located in Plantation, in the center of Broward County, Florida.

Lincoln manages the two-building, 465,592-square-foot property, which was purchased last summer by a pension fund advised by an affiliate of Lincoln.

The renovations are scheduled to be completed by early August. Atlanta-based Wakefield Beasley is the architect and interior design firm for the renovations, and Hollywood, Florida-based Witkin Hults Design Group is the landscape architect. Blanca Commercial Real Estate leases the property.

 “These renovations will make Royal Palm Office Park, which is already best-in-class, even better,” said Roy Paskow, senior vice president of Lincoln, who oversees the South Florida office.

For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-405-2354