JLL completes 155,000-square-foot, long-term lease for Integrated CBD at HUB 317

PHOENIX, Arizona – Institutional CBD oil and isolate supplier Integrated CBD has announced it will open its first U.S. manufacturing location and hire approximately 100 employees at HUB 317, a 225,157-square-foot project that in 2018 was renovated from a former Sam’s Club into a state-of-the-art, Class A, freeway visible flex industrial campus.

Integrated CBD will use its new space at HUB 317 for CBD oil extraction, processing, custom formulating and research and development. The facility is intended to provide industrial hemp-derived CBD ingredients and bespoke formulations to Fortune 500 customers in the cosmetic, supplement, nutraceutical, pharmaceutical and food and beverage industries. The new facility is expected to generate more than 100 new jobs including high-skilled and high-paid senior level management, sales and research and development positions.

The company is scheduled to take occupancy at HUB 317 during the fourth quarter of 2019.

JLL Managing Director Andrew Medley and Executive Vice President Steve Larsen represented Integrated CBD. Ken McQueen, Chris McClurg and Brian Payne represented the owner and developer, a joint venture between Denver-based DPC Companies and Confluent Development.

“This facility marks a major milestone in this new industry,” said Jeff Dreyer, Chief Operating Officer and Co-Founder of Integrated CBD. “Our location at HUB 317 will be largest throughput and most efficient CBD oil extraction plant in the United States.”

HUB 317 is located on 12 acres at 317 S. 48^th St. in Phoenix, minutes from the Loop 202 and 143 freeways and Sky Harbor International Airport. The project combines the renovation of a 115,286-square-foot former Sam’s Club building with 109,645 square feet of new tilt-up industrial construction to create a fully modernized flex industrial campus.

Features of the new development include renovated office, warehouse/distribution and mezzanine space with 24- to 32-foot clear height, truckwell, grade-level and dock high loading options, 290 parking stalls and a 3,000 Amps/277-480 volt power supply.

The property’s location just east of State Route 143 and just west of the Loop 202 will give Integrated CBD exceptional access to major transportation corridors as well as freeway visibility with building and freeway monument signage opportunities.

“HUB 317 is an ideal property for Integrated CBD, giving them a centralized and efficient supply chain location and brand new, state-of-the-art industrial space that not only provides extensive power but is also scalable to accommodate the company’s strong projected growth,” said Medley.

HUB 317 is the first development partnership in the Phoenix industrial market between Colorado-based DPC Companies and Confluent Development. Graycor Construction Company was the general contractor and Ware Malcomb was the project architect.

TUCSON, AZ – This summer, the Humane Society of Southern Arizona (HSSA) has experienced an increase in the number of pets coming into the shelter. Right now HSSA has over 150 cats that are waiting for their forever families.

“We have had to add kennels to our cat adoptions area, place multiple cats in each kennel, turn our spacious catios into additional kennel rooms, move cats into our meet and greet rooms, and add additional kennels into our Welcome Center. We are running out of places to put them! If you’re interested in adding a cat to your home now is the time! We have every personality, color, and age. They are just waiting for you,” Morgan Treiber, HSSA’s Adoption Supervisor.

As part of HSSA’s 75^th Anniversary Celebration all cat adoptions for cats over 6 months of age are 75% OFF through Thursday, August 1^st. If you’re interested in a kitten, don’t worry there are plenty! Kittens will be eligible for the 75% OFF adoption fee discount through Sunday, July 21^st.

For more information on cats that are waiting for their forever families visit HSSA Main Campus at 635 W. Roger Rd. or PAWSH Park Place at 5870 E. Broadway Blvd. You can also give an adoptions counselor a call at 520-327-6088, ext. 173.

Phoenix, Ariz. – ABI Multifamily is proud to announce the $15,900,000 / $144,545 Per Unit / $113.45 Per SF sale of Orange Tree Village Apartment Homes in Tucson, Arizona.

Orange Tree Village is a 110-unit apartment community located in North Tucson’s Casas Adobes submarket. The community is conveniently located just outside downtown Tucson, where dining, shopping and entertainment are easily accessible, but where a family friendly community feel is still noticeably present.

Built in 1981 and renovated in 2018, Orange Tree Village is improved with 22 one- and two-story buildings on 9.13 acres. The property features a mix of 20 one-bedroom units, 66 two-bedroom units and 24 three-bedroom units, with a weighted average of 1,274 SF.

ABI Multifamily’s Alon Shnitzer, John Kobierowski, Rue Bax, Doug Lazovick and Eddie Chang, along with Ryan Kippes of ABI’s Tucson office, represented both the Buyer and the Seller.

“The Seller did an amazing job turning this property around in a relatively short period of time,” Shnitzer said. “Next Wave Investors aggressively renovated the property, starting with the exterior and amenities, then moving to interiors. Average rents and other charges moved approximately $200 over about one year, and there’s more room to grow. In addition, the property is now well positioned for the incoming Buyer to continue improving, renovating interiors and moving rents.”

The Buyer is a private investment partnership composed of BlueSky Equity and Vista Laguna Asset Management out of California, Hamick Asset Management out of Texas, and Valley Oaks Capital out of Phoenix. To date, their partners have completed more than $39 Million in acquisitions in the Arizona and Texas markets.

The Seller — an entity formed through Next Wave Investors, LLC — is a private investment company based in San Clemente, CA. To date, the firm has completed more than $150 Million in acquisitions, with the majority of its multifamily transactions happening in the Arizona, Utah and Nevada markets.