98,000-square-feet in new commitments brings project to 86 percent leased

PHOENIX, AZ – EverWest Real Estate Partners and CBRE are on a roll at 10 Chandler, signing six new leases in five months at the East Valley industrial park. Several of the new tenants have moved into the development this quarter. The remainder will move in by year’s end.

The new leases – which total more than 98,000-square-feet – bring the project to 86 percent occupied.

Located at 450 – 590 N. 54^th St. in Chandler, Arizona, 10 Chandler totals 37 acres with more than 553,000-square-feet of space in nine flex/industrial buildings. The park is centrally located in the heart of the Chandler Tech Corridor, offering approximately 1,150 feet of I-10 frontage, premier freeway-facing signage and freeway access via three full diamond interchanges.

The latest leases at 10 Chandler include:

• Babytown – New lease commitment for 12,000-square-feet.
• DNB Engineering– Expanded into an additional 16,000-square-feet.
• Heads Up Helmets– New lease commitment for 6,000-square-feet.
• M+W U.S., Inc. – New lease commitment for 33,000-square-feet.
• Inyati Bedliners – New lease commitment for 20,000-square-feet.
• Stretch to Win Institute– New lease commitment for 11,000-square-feet.

These companies will join existing tenants at 10 Chandler including Origami Owl, Cloud Blue, Eaton, Paradise Bakery and Toshiba.

CBRE First Vice Presidents Jackie Orcutt and John Grady serve as the exclusive leasing brokers for the property. Hired to handle the leasing in mid-February, the CBRE team has brought the property from 65 to more than 86 percent leased in just a short time.

“EverWest has taken a thoughtful approach toward building a strong base of credit tenants that reflect a healthy and diverse metro industrial market,” said Orcutt.

She also points out that the Chandler submarket is one of the strongest in the Valley, posting more than 1 million square feet of positive net absorption so far in 2016. She says 10 Chandler is particularly well situated to continue to capitalize on activity in the submarket. “The project’s location in west Chandler along I-10 is perfect for growing manufacturing, tech and defense/aerospace-related firms who need a strong labor base in a central location with a great deal of amenities.”

Among the amenities at 10 Chandler are up to 26-foot clear height ceilings, up to 50 x 30-foot column spacing, a mix of dock-high and grade-level doors, and generous parking. Building features are enhanced by nearby market amenities, including more than five hotels, 25 restaurants and multiple major shopping and power centers within a one-mile radius.

10 Chandler is a short drive to Sky Harbor International Airport and Phoenix-Mesa Gateway Airport, as well as the amenities and employment pools of downtown Tempe, downtown Phoenix and the East Valley. The park sits just north of the I-10/Loop 202 intersection, which reports a traffic count of 212,217 vehicles per day.

Select vacancy remains at 10 Chandler, including approximately 42,000 square feet in Building 2 and 19,000 square feet in Building 6. EverWest is also under construction on an 18,000-square-foot speculative suite in Building 1, with an expected completion date of January 2017. For more information, visit www.10Chandler.com or call CBRE at 602.735.5000.

The following commercial leases were reported to the Real Estate Daily News for Phoenix Commercial Leases from December 12 thru 16, 2016.

INDUSTRIAL LEASES BY NAI HORIZON
NAI Horizon represented the landlord in a sublease and long-term lease for a Tempe HVAC contractor at 1888 E. Broadway Rd.

NAI Horizon negotiated a short-term, $177,000 sublease of the property, representing CEC of Farmers Branch, Texas. NAI Horizon Senior Vice Presidents Isy Sonabend and Rick Foss then represented Tempe Partnership of Santa Monica, Calif., in the $1.423 million new lease of the 26,023-square-foot building for TDIndustries, Inc.

“TDIndustries, a $450 million, national, employee-owned company, chose this facility because it afforded them the space to handle all of their immediate and future growth,” said Foss, who also represented TDIndustries. “They chose the property in part because of the heavy office component and the enormous fenced, paved parking lot.” TDIndustries will occupy the building upon the completion of tenant improvements. The building will serve as a regional headquarters and manufacturing and distribution facility.

RETAIL – UNIVERSITY & LOOP 101, TEMPE
A Retail lease for 1,946-square-feet within University 101 Shops at SWC of University & Loop 101 in Tempe, AZ to Brainstorm Escape Room was recently consummated. The owner of the center is 2155 E. University, LLC.  Jared Lively of Rein & Grossoehme represented both the Landlord and the Tenant on this transaction.

RETAIL – PALMS PLAZA, GLENDALE
A lease for 800 square feet in Palms Plaza to Yerberia Esotirica Espiritual La Dona was recently consummated.  The location of the property is 51^st Ave & Orangewood in Glendale, AZ. The owner of the center is RMM Orangewood Retail, LLC. Jared Lively and Kevin Roessler of Rein & Grossoehme represented the Landlord and Tenant.

RETAIL – PALMS PLAZA, GLENDALE
A lease for 800 square feet in Palms Plaza to Yard Sale Liquidations was recently consummated.  The location of the property is 51^st Ave & Orangewood in Glendale, AZ. The owner of the center is RMM Orangewood Retail, LLC. Jared Lively and Kevin Roessler of Rein & Grossoehme represented the Landlord and Tenant.  Rein & Grossoehme specializes in the sale of investment properties and retail, office and industrial leasing.

Submit sales and lease to REDailyNews@outlook.com

The Phoenix office of JLL has completed five new leases for Café Rio, expanding the fast casual Southwestern-style restaurant into multiple new locations across the metro Phoenix market. The new restaurants have opening dates ranging from October 2016 to summer 2017.

JLL Senior Vice President Tyson Switzenberg represented Café Rio in the lease negotiations, which include:

• 4095 S. Gilbert Rd. (at Ocotillo Rd.) – 2,670-square-feet, opened Oct. 20.
• 4747 E. Cactus Rd. (at Tatum Blvd.) – 2,501-square-feet, opened Nov. 10.
• 5150 S. Rural Rd. (at Baseline Rd.) – 2,785-square-feet, scheduled to open this month.
• 7439 W. Bell Rd. (at 75^thAve.) – 2,000-square-feet, scheduled to open Summer 2017
• 2748 S. Signal Butte Rd. (at Guadalupe Rd.) – 2,880-square-feet, scheduled to open Summer 2017

“Phoenix ranks among the nation’s hottest markets for quick serve restaurants,” said Switzenberg. “Café Rio has been rapidly expanding in Phoenix due to the success of their existing stores in the marketplace – all of these are end-cap spaces within strong regional or neighborhood trade areas, and include strong traffic patterns, a strong surrounding retailer base and great visibility. These properties have helped Café Rio realize its 2016 Phoenix-area expansion plans, which it expects to continue in 2017 and beyond.”

According to JLL, metro Phoenix boasts 93 quick serve restaurants per 100,000 residents, placing it fourth on the company’s list of “Top 10 Best Large Markets for Quick-Service Restaurant (QSR) Expansion,” with a density of QSR uses that ranks just behind Nashville, Houston and Washington D.C.

Based in Salt Lake City, Café Rio is a fast-casual Mexican restaurant with made-from-scratch recipes inspired by the traditional cooking and high quality ingredients found in the Rio Grande Region of Northern Mexico, Southern Texas and New Mexico. The company operates more than 100 U.S. locations across 10 states, including 13 locations in metro Phoenix.