Daum Commercial completes 112,000-SF lease at new industrial property in the Deer Valley submarket of Phoenix, AZ for Fox Factory Inc.

  

 Chris Rogers 

PHOENIX, AZ – DAUM Commercial Real Estate Services has completed the lease of a newly constructed 112,000 square-foot industrial building in the northwest Phoenix, Arizona submarket of Deer Valley for a total consideration of more than $12,000,000—one of the largest lease deals in the area.

DAUM Executive Vice Presidents Chris Rogers and Trevor McKendry represented Fox Factory Inc., a Duluth, Georgia-based leader in designing, developing, and manufacturing world-renowned performance products, in the long-term lease transaction.

 Fox Factory Inc. will use the site as a new regional assemblage manufacturing facility. CBRE negotiated on behalf of the new building’s owner Meritex, a developer of commercial real estate.

Well-located with immediate access to Interstate 17 and just 30 minutes from Phoenix Sky Harbor Airport, the brand-new building includes a fully secured fenced yard, 32’ clear height, 31 dock doors, and 3,000 amps of power.

At the signing of the lease, the building’s shell was complete, and the new tenant plans to build it out to suit its needs.

Trevor McKendry

Fox Factory has indicated it expects to create approximately 100 new jobs at their latest regional manufacturing and assembling facility, which will produce aftermarket parts for large load capacity utility task vehicles (UTVs) and all-terrain vehicles (ATVs).

  “This lease of a newly constructed property by a well-established brand with a global presence continues to highlight how the Deer Valley area is maintaining an exceptional growth trajectory in the Phoenix region,” notes McKendry.

“The fact that this is a new facility and a new geographic location for Fox is indicative of the long-term opportunities businesses see in the greater Phoenix market.” 

 

 Contacts:

Hanna Kokuashvili / Elisabeth Manville  
The Smart Agency, Inc.
(949) 438-6262 
hkokuashvili@thesmartagency.com

 

 

 

JLL Capital Markets arranges $115 million financing for the 405-unit The Ventana Luxury Apartments in California's Playa Vista master-planned community

 

Annie Rice

 

 LOS ANGELES, CA – JLL has arranged the $115 million financing for The Ventana Luxury Apartments, a 405-unit, low-rise multi-housing community located in the master-planned community of Playa Vista, California.

 

JLL worked on behalf of the borrower, Barings Real Estate, to secure the cash neutral, five-year, full-term interest-only loan.

Chris Drew

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Chris Drew, Managing Director Annie Rice, Managing Director Brandon Smith and Director Gyasi Edmondson.

 

"The closing of The Ventana is a testament to the JLL team's expertise and strong collaboration between Barings and PGIM Real Estate," said Taylor Johnson, Senior Director of U.S. Real Estate Capital Markets at Barings.

"We are proud to have a trusted advisory team at JLL dedicated to navigating this deal's intricacies and delivering exceptional results for our investors." 

Brandon Smith 

The Ventana was originally constructed in 2007 in two phases and offers a variety of studios, one-, two- and three-bedroom, with an average unit size of 1,049 square feet.

 

 Situated at 7225 and 6565 Crescent Park, The Ventana Luxury Apartments are located within the master-planned community of Playa Vista and minutes from the market-leading tech companies within the burgeoning Silicon Beach.

 

 

 

 Contact:

 
Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com