TUCSON, ARIZONA — Crandell Holdings, LLC (Aaron Crandell, manager) purchased 4349 E. Tennessee Street from Tucson Industrial Centers Inc. for $620,000 ($74 PSF).

The 8,400-square-foot industrial building was built in 1982 on 2.68 acres and has a large fenced storage yard. United Rental, a previous tenant, did a new buildout in 2009 to bathrooms, offices and meeting space. It was purchased to be owner occupied by Crandell Glass and Aluminum (CGA), a local company that specializes in commercial and residential glass and aluminum projects.

Aaron Crandell started Crandell Glass & Aluminum on May 18, 2010. A family owned and operated full-service glass & aluminum contractor. Using its 75 years of combined experience, CGA strives to bring personalized service and unparalleled results to every job regardless of size. From energy efficient sliding doors and windows, to automatic entrances and mirror and shower enclosures, Crandell Glass and Aluminum does it all with skillful design and expert craftsmanship.

Gary Emerson of GRE Partners, LLC in Tucson represented the buyer and Dave Gallaher of Tucson Industrial Realty represented the seller, Tucson Industrial Centers, Inc.

For more information Emerson can be reached at 520.777.4949 and Gallaher is at 520.294.1610.

Q4 JLL Office Report highlights top Valley office trends

PHOENIX, Arizona – Phoenix’s Airport office submarket is quickly filling with new and expanding tenants, pushing vacancy rates down 9.3 percent year-over-year and inching rental rates up, according to data from JLL’s Q4 Phoenix Office Market Report.

According to JLL, overall vacancy in the Airport submarket in 2018 fell from 32.7 percent to 23.4 percent. During the same time period, submarket rents climbed from $19.63 to $21.95 per-square-foot.

“The Airport submarket is a very attractive alternative for tenants to consider when locating their operations,” said JLL Managing Director Mark Gustin. “It has a central location that is close to the amenities of downtown Tempe and Phoenix, and is crisscrossed by three major freeways that connect tenants to a large base of prospective employees – over 2.6 million people within a 30-minute commute.”

In 2018, this helped to attract major new tenant commitments to the Airport submarket, the largest of which include:

• McKesson Drug Company, subleasing 177,639-square-feet at 2900 S. Sunland Dr., at the I-10 and US 60 in Tempe.
• Lennar Homes, leasing 91,452-square-feet at 1665 W. Alameda Dr., also along the I-10 just north of the US 60 in Tempe.
• EPIQ, leasing 51,323-square-feet at 3255 E. Elwood St., at the I-10 and University Drive, south of the Airport.
• Ancora Education, leasing 43,013-square-feet at 8181 S. 48^th, just west of I-10 and south of Baseline Road.
• Aspen University, leasing 38,014-square-feet at 4615 E. Elwood St. also at the I-10 and University Drive.

Gustin says the increased lease activity has helped to transform a number of Airport-area office developments. This includes Quattro, a four-building, 264,994-square-foot office project that was recently rebranded within the Cotton Center business park. Since securing the Quattro leasing assignment about 16 months ago, JLL has completed 188,584 square feet of leases at the project, including a 42,433-square-foot expansion and renewal by Freeport McMoran and a full-building, 57,108-square-foot lease by Konica Minolta.

“Metro Phoenix is on a 22-quarter run of net positive office space absorption, so in some ways the Airport submarket reflects what’s happening on a macro scale across the Valley,” said Gustin. “Based on the numbers, it is just much more pronounced in the Airport area.”

According to JLL, Phoenix’s positive net absorption streak is expected to extend into the first half of 2019 and feasibly further, with more than 1.4 million square feet of signed leases ready to occupy in 2019 and activity an interest in the local office market continuing on an upward trend.

To access JLL research for Phoenix and across the U.S., visit the company’s research page at https://www.us.jll.com/en/trends-and-insights#research.

Tucson, Arizona – The Southern Arizona Home Builders Association (SAHBA) has announced its 2018 Annual Award Winners on Friday, January 25 at the JW Marriott Starr Pass Resort & Spa. The winners represent the best in their industry and were selected on their SAHBA participation, community involvement, professional reputation and industry standards, said SAHBA’s President, David Godlewski.

• Production Builder of the Year: Pepper Viner Homes
• Custom Builder of the Year: LeCocq Construction
• Community of the Year: Alterra at Rancho Vistoso by Mattamy Homes
• Remodeler of the Year: McCaleb Design & Construction
• Trade Partner of the Year: Johnson-Manley Lumber Company
• Associate Member of the Year: Southwest Gas
• Builder Sales Manager of the Year: Alia Jones, KB Home & Anjela Salyer, Mattamy Homes
• Builder Sales Profession of the Year: Charmaine Acedo, Pulte Homes
• Individual Member of the Year: Al LeCocq, LeCocq Construction
• Legacy Award Recipients: Greg Miedema and Steve Canatsey
• Community Builder Award: – Carmine DeBonis, Jr., Pima County Development Services – Southern Arizona Construction Career Days

SAHBA represents approximately 400 member-businesses serving the new home construction industry in Pima, Cochise and Santa Cruz counties.