Farmers Insurance Exchange Signs New Lease in Phoenix

The company will occupy a 17,351-square-foot building, part of the Spectrum Ridge Flex park. Kidder Mathews brokered the transaction on behalf of the owner.
21105 N. Eighth Way
21105 N. Eighth Way

Farmers Insurance Exchange has signed a seven-year lease to occupy a 17,351-square-foot flex/industrial building in the second phase of Spectrum Ridge Flex in Phoenix. Kidder Mathews represented the landlord, Spectrum Ridge CAN Flex LLP.

Located at 21105 N. Eighth Way in the Deer Valley submarket, the Class A building is situated on a 1-acre parcel. The industrial park has easy access to Interstate 17, State Route 51 and Loop 101. Deer Valley Airport is less than 2 miles away.

According to Mike Ciosek, senior vice president with Kidder Mathews, Farmers Insurance chose this location for their claims training center. “We understand this operation is moving from their California location and will work in concert with their regional offices, that are also located in the Deer Valley submarket,” Ciosek said in a prepared statement.

The Kidder Mathews team that worked on behalf of the landlord included Ciosek, Senior Vice President Eric Bell and Senior Associate Dylan Scott. Last year, the same team assisted IAC Industries in its acquisition of a 50,000-square-foot industrial asset in Goodyear, Ariz.

Image courtesy of Kidder Mathews