Stitch Fix to Open 4th Distribution Center in Phoenix

Stitch fix logoSecond largest lease this year in Phoenix market signed with growing company planning to hire up to 600 employees over the next 12-18 months

Stitch Fix, an online personal styling service for the busy woman on the go, has announced plans to open its fourth distribution center in Phoenix, AZ. The new distribution center, located on West Lower Buckeye Road, will open in November 2015 and will help the company scale operations and better serve clients located in the Southwestern US.

The company plans to hire up to 600 employees for the 365,000-square-foot facility. Stitch Fix currently operates three other distribution centers in South San Francisco, CA, Indianapolis, IN and Dallas, TX. Stitch Fix is headquartered in San Francisco, CA, with offices in Austin, TX and Pittsburgh, PA.

“As we continue to grow and scale the company, we are looking for distribution center locations in markets that have the right amount of space, a great labor market, and allow us to better serve our clients in the region. Phoenix has the right mix of all of these elements, and will allow us to continue to scale our operations in a sustainable way,” said Stitch Fix COO Mike Smith. “We appreciate the warm welcome we have felt from the Phoenix business community, and are looking forward to building our Phoenix team.”

“Attracting a creative, successful and growing young company like Stitch Fix is a win for Phoenix,” said Mayor Greg Stanton. “We are thrilled to see hundreds of new jobs, and I am positive that our talented labor market will more than meet the company’s needs.”

“Stitch Fix is an exciting and dynamic company whose entrance into the market adds to the growing inventory of innovative companies in the region,” said Chris Camacho, president & CEO of the Greater Phoenix Economic Council. “The new operation in Phoenix will provide them with increased access to their growing customer base, as well as access to a robust workforce to fill the hundreds of new jobs this expansion brings.”

“I am pleased to welcome Stitch Fix to Southwest Phoenix and to add their name to the growing list of companies taking advantage of the outstanding distribution/manufacturing warehouse opportunities available in the area,” said Councilman Michael Nowakowski.

“Phoenix has a strong inventory of first generation industrial space, allowing Stitch Fix to select the best possible building for their growing business,” said JLL Managing Director Bill Honsaker, a member of the JLL team representing Stitch Fix in its lease negotiations. “They are only the third tenant over the last two years to sign a 250,000-plus-square-foot lease that wasn’t a build-to-suit. It is a great case study for other users looking to complete lease deals in the Phoenix market.”

JLL Managing Directors Bill Honsaker, Marc Hertzberg, Anthony Lydon and Hugh Scott, and JLL Senior Vice President Michael DeMaria, represented Stitch Fix in its lease. Don MacWilliam and Payson MacWilliam of Colliers International represented the building owner, Exeter Property Group.

 




Tucson Lease Report Week of August 24-28, 2015

Tucson Lease Report
Tucson Lease Report

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from August 24 thru 28, 2015.

RETAIL – 12100 N. THORNYDALE RD., TUCSON
Oro Valley Hospital, LLC leased 6,600-square-feet from Old Lobos T & T, LLC to redevelop into a medical office at The Shoppes at Tangerine Crossing, 12100 N. Thornydale Rd. in Tucson.   Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR and Jim Eaton with Geis Realty Group, represented the tenant. Brian Harpel, with The Harpel Company, represented the landlord in this transaction.

INDUSTRIAL – 3865 E. 34th ST., TUCSON
Exclusive Nails Couture Professional, LLC leased 3,812-square-feet at 3865 E. 34th St., Suite 109 in Tucson from AP & D Investments, LLP.  Rob Glaser, SIOR, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Kevin Volk with Volk Company, represented the tenant in this transaction.

RETAIL – 12152 N. RANCHO VISTOSO BLVD., TUCSON
Boccaccio, LLC has leased 2,800-square-feet at 12152 N. Rancho Vistoso Blvd., Suite C-160, from SB & FB Vistoso Plaza, LLC.  Five year term, turnkey restaurant.  Robert Nolan of Oxford Realty Advisors handled the transaction.

INDUSTRIAL – 3880 S. Palo Verde RD., TUCSON
Howmedica Osteonics Corporation leased 2,634-square-feet at 3880 S. Palo Verde Rd., Suite 403 in Tucson from Palo Verde Trust Partners, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR and Peter Politi with Jones Lang LaSalle Brokerage, represented the tenant in this transaction.

RETAIL – 3067 N. CAMPBELL AVE., TUCSON
Sky Dragon, LLC. Leased 2,000-square-feet at 3067 North Campbell Avenue Tucson. The tenant plans to open a Chinese restaurant in the premises. Kevin Volk and Rick Borane of Volk Company handled a lease between DTT North on Campbell, LLC and Sky Dragon, LLC.

OFFICE – 5305 E. BROADWAY BLVD., TUCSON
Integrity Staffing Solutions, Inc. leased 1,686-square-feet at 5305 E. Broadway Blvd. in Tucson from Transamerica United Group, LLC. Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR and Rick Kingery with Colliers International, represented the tenant in this transaction.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord.

INDUSTRIAL – 3925 E. 29th ST., TUCSON
CCE AZ, LLC leased 1,505-square-feet in Midpoint Business Plaza at 3925 E. 29th St., Suite 402 in Tucson from Presson Midpoint, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

INDUSTRIAL – 4500 E. SPEEDWAY BLVD., TUCSON
Fairchild Enterprises, Inc. leased 800-square-feet at 4500 E. Speedway, Suite 81 in Tucson from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord and Robert Noland with Oxford Realty Advisors, represented the tenant in this transaction.

OFFICE – 5930 E. PIMA ST., TUCSON
Defenders, Inc. leased 551-square-feet at 5930 E. Pima St., Suite 108 in Tucson from 5930 E. Pima, Inc.  Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 621 N. GRAND AVE., TUCSON
IME, LLC leased 500-square-feet of retail/office space at 621 N. Grand Avenue, Suite D in Nogales, Arizona, from Angel T. Mendoza.  Denisse Angulo-Badilla, Commercial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Ramon Jaimes with Jaimes Realty, represented the tenant in this transaction.

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LoanDepot Negotiates Long-Term Lease at Pima Northgate Scottsdale

LoanDepot
14000 N Pima Rd, Scottsdale, AZ

SCOTTSDALE, AZ – Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease extension and expansion at Pima Northgate, located at 14000 N. Pima Rd., for LoanDepot.com, a loan underwriting and mortgage banking company.

The lease is for 49,787-square-feet at Pima Northgate, a 140,000-square-foot office building in the bustling Scottsdale Airpark submarket. LoanDepot.com previously occupied 25,219-square-feet on the second floor of the building. Over the past year, office net absorption in that submarket has topped 200,000-square-feet, second best in Metro Phoenix. The property is now 100 percent leased.

“LoanDepot is rapidly growing and for their expansion needs, they considered several other Valley submarkets,” said Tim Whittemore, Senior Director with Cushman & Wakefield’s Office Properties group. “Ultimately they decided to remain and expand at Pima Northgate as a result of their proven ability to recruit qualified employees in the North Scottsdale area. The Class A nature of the building is also consistent with LoanDepot’s brand and image.”

Whittemore and Chris Nord of Cushman and Wakefield represented the landlord, ASB Real Estate Investments of Bethesda, MD. LoanDepot, headquartered in Foothill Ranch, Calif., was represented by John Gillespie of Newport Commercial Realty Advisors.

Target date for expansion is Dec. 1. Other tenants at Pima Northgate include Bridge2 Solutions and Pegasus.