Friday, May 10, 2019

Daum Commercial Helps National Electrical Distributor Expand Phoenix, AZ Presence with 51,000-SF Lease



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. 

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.

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:

Micaela Fehrenbach / Elisabeth Manville
Brower Group 
(949) 438-6262
mfehrenbach@brower-group.com

www.daumcommercial.com
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