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| 51,105-SF Industrial warehouse, 1717 East Rairdan Lane, Central City Submarket, Phoenix, AZ |
PHOENIX, AZ – DAUM Commercial Real Estate Services has
completed the 10-year lease of a 51,105 square-foot industrial warehouse
located within the Central City submarket of Phoenix, Arizona, on behalf of the
lessee, Consolidated ElectricalDistributors (CED).
The new tenant, one of the country’s largest electrical supply
distribution networks, is relocating and expanding from a 20,000 square-foot
property in Phoenix after nearly 30 years of occupancy, according to Sebastian
Sica, an Associate at DAUM, who completed the lease alongside DAUM Executive
Vice President Rich Sica.
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| Sebastion Sica |
“This new location will act as a significant Southwest hub for CED, which
has grown to encompass more than 600 offices across 47 states through its
60-year history,” explains Sebastian.
“In addition to relocating to a building
that is approximately 30,000 square feet larger its previous location, the firm
plans to create 40 to 50 new jobs locally.”
According to Sebastian, the private landlord previously operated a moving
and logistics business at the location and recognized the value of retaining
the asset as an investment property within the growing Phoenix industrial
market after closing the company.
The landlord also owns
the four acres surrounding the warehouse, offering the potential for further
expansion for CED or future tenants.
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| Rich Sica |
Rich Sica adds: “We’ve maintained a strong relationship with our Client
for more than 15 years, previously securing locations for the firm throughout
the Phoenix area as well as across North America.
"Our deep knowledge of the
industrial market and CED’s business model and operations were instrumental to
identifying this well-positioned asset in a prime location, adjacent to the
Interstate 17 and Interstate 10 Freeways, and securing a lease at a competitive
price.”
DAUM also worked closely with the tenant, landlord, and contractors to
upgrade the asset, originally constructed in 1986, and optimize it for CED’s
operations, notes Rich.
Contacts:
www.daumcommercial.com.
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