Liberty Signs Power-One for 105 KSF, Brings Sky Harbor Center to Full Occupancy
- Mar 10, 2014
Power-One Renewable Energy Solutions has signed a long-term lease with Liberty Property Trust for 105,000 square feet at Liberty Sky Harbor Center in Phoenix. The agreement brings the complex, which opened last year after a complete makeover and re-branding, to 100 percent occupancy.
Karl Tunberg of Midland Real Estate Alliance represented Power-One in the transaction, and Bob Crum of Ross Brown Partners was the building listing broker.
Power-One, a member of ABB Group, is a leading provider of renewable energy and energy-efficient power conversion and power management solutions and is the world’s second largest designer and manufacturer of photovoltaic inverters. Headquartered in Camarillo, Calif., the company has sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. It had previously occupied the Liberty property in Phoenix on a month-to-month basis.
Located at 2626 S. 7th Street, Liberty Sky Harbor Center is an 185,834-square-foot Class A cross-dock distribution center that provides 67 dock doors, 360-degree truck access and more than eight acres of paved area for outside storage and trailer parking. Additionally, the facility offers convenient access to the I-10 and US 202 Freeways, as well as Sky Harbor Airport.
Liberty acquired the industrial outfit in 2012 from Beverly Hills, Calif.-based Emerik Properties Corp, according to data from PropertyShark. It underwent a major renovation in 2013, which included implementation of several green practices and sustainable enhancements. Liberty said it re-used 85 percent of existing structures on site; recycled asphalt, concrete and steel that was demolished as part of the redevelopment; installed upgraded radiant insulation with an R-30 value, and used low VOC paint throughout.
Power-One will take occupancy of the space this month, joining other tenants including Charter Towne Inc., which leased 44,868 square feet in August 2013, and American Beverage Corporation, the existing tenant in the building upon acquisition by Liberty.
Photo credit: Liberty Sky Harbor Center courtesy of Liberty Property Trust