Lee & Associates Signs New Tenants at Phoenix Industrial Park
- Nov 28, 2017
Lee & Associates Arizona completed two leasing transactions at Parc 17, a 177,770-square-foot industrial park in Phoenix. Earlier this year, the company also facilitated the property’s $16 million, all-cash sale to Colony NorthStar Inc. Upon closing, the complex was 24 percent occupied. Since then, Lee & Associates signed two new tenants, bringing the buildings to 75 percent occupancy.
Peterson Aluminum inked a lease for 52,845 square feet at Parc 17, while Polyloom signed on for 31,871 square feet. Principals Stein Koss and Tom Louer worked on behalf of the owner to identify the tenants and arrange the transactions. Earlier this year, the same team facilitated the $12 million sale of a seven-property industrial portfolio in Phoenix.
Parc 17 comprises three buildings, which are located at 1800, 1840 and 1880 S. 7th Ave., near Interstate 17 and Loop 202. Phoenix Sky Harbor Airport is seven minutes away, while Loop 101 can be reached within 15 minutes. The buildings feature 10- and 14-foot high loading doors, and a clear ceiling height of 28 feet. The truck courts can handle 120, 124 and 144 vehicles at a time. The current occupancy level leaves an additional 44,589 square feet available for rent.
“Colony is a pleasure to work with. They respond quickly and are in the business of satisfying tenant industrial needs. In addition, Parc 17 is a well-designed project in the center of Phoenix with proximity to interstate 17,” Koss said in a prepared statement.
Image courtesy of Lee & Associates