113,110 s.f. lease at 800 Germann underscores metro Phoenix’s East Valley demand

CHANDLER, ARIZONA – Within months of its acquisition, EverWest Real Estate Investors has fully leased 800 E. Germann Road, a 113,110-square-foot, just-completed Class A industrial building in Chandler, Arizona, within metro Phoenix’s booming East Valley industrial market.

The tenant, a sustainable technology company, will occupy the property later this year, taking advantage of modern project amenities including 30’ clear height, 3,000 amps of heavy power, generous docking positions and a large, secured yard space.

EverWest Managing Director of Asset Management Amr Ceran directed the transaction for EverWest in coordination with CBRE’s Andrew Brigham, Evan Koplan and Serena Wedlich.

“This building is indicative of the high-quality, highly desirable industrial asset class that EverWest is targeting – and continues to seek out – as we make a strategic re-entry into the Phoenix market,” said Ceran. “There is exponential user demand across the Valley and more on the horizon.”

“The location and features of this building generated significant interest from various companies, including 3PLs, food- and distribution-related companies, and high-tech and light manufacturing,” said Koplan.

According to CBRE, the Chandler Airport area currently sits at a mere 1 percent industrial vacancy rate.

The 800 E. Germann building is located within one mile of the Loop 202, with quick access to two full-diamond interchanges and a deep and educated labor pool.

EverWest continues to seek industrial acquisition opportunities in metro Phoenix and across key U.S. growth markets.

PHOENIX, ARIZONA – Liquid Mobile IV, a clinical lead physician, nurse practitioner, and nurse organization delivering 24/7 wellness-based IV hydration and nutrition to the customer’s front door, signed a 2-term lease at the Optima Biltmore Towers Condominium first-floor commercial space in the highly sought-after Camelback Corridor in Phoenix.

NAI Horizon Associate Lori Kahn represented the tenant, Liquid Mobile IV, which is  excited to bring its services and be part of the Phoenix community. The 2,033 SF space at 4808 N. 24^th St., will be home to more than 20 nurses and clinicians.

“We are thrilled to help Liquid Mobile IV with its national expansion, and Phoenix being the company’s first Southwest location,” Kahn said. “The Optima Biltmore’s office space is the perfect location in the Phoenix market. The building’s central location and proximity to major freeways provide nurses easy access to clients throughout the Valley.”

Liquid Mobile IV offers on-demand nutrition, hydration, and COVID test. Nurses come to a home or business, providing convenience and limiting the risk of exposure to other viruses and illnesses that might occur in a clinical setting.

Liquid Mobile IV offers customers the ability to avoid travel time, traffic, long lines or waiting rooms. Only nurses, nurse practitioners and physicians perform the IVs and administer nutrients formulated by FDA authorized pharmacies.

Liquid Mobile IV products are designed to make a positive impact on the routine wellness of a customer’s day-to-day life, in addition to assisting with more acute clinical health situations such as cold, flu, nausea, allergies and dehydration that require immediate attention.

Because of its direct administration method, Liquid Mobile IV products tend to work faster and more efficiently than other methods and deliver up to 100% absorption of the needed therapy.

The landlord is Silver Fern, LLC, of Glencoe, Illinois. The transaction was facilitated through a referral from NAI DESCO in St. Louis, Missouri.

U.S. office leasing increased by 27% in 2021, with technology companies driving demand for the largest requirements. While the 100 largest leases’ share of total U.S. office leasing dropped to 15.5% last year from 19% in 2020, their total square footage increased by 6.8% to 31 million.

New leases accounted for 61% of the top 100, up from 57% in 2020, as companies became more comfortable with making long-term occupancy decisions.

Technology companies accounted for 36 of the top 100 leases, double their share in 2020, for 11.4 million sq. ft. or 37% of the top 100 total. On a square footage basis, 87% of the technology company total was in new leases or expansions, reflecting the sector’s uninterrupted growth during the pandemic. The aerospace/defense and life sciences sectors also had relatively high numbers of new leases.

The government/public administration sector accounted for 16 of the top 100 leases, totaling 5.1 million sq. ft. Most of those commitments (70%) were renewals and were primarily in Washington, D.C.

The average size of the top 100 leases rose by 7% year-over-year to 307,000 sq. ft. Nine of the 13 industry sectors tracked by CBRE Research recorded increases in the average size of their largest leases. The creative, aerospace/defense and telecommunications sectors posted the largest increases. The energy sector had the largest decrease (-50%), followed by retail (-27%) and technology (-16%).

FIGURE 1: 2021 Top 100 Office Leases by Industry Sector Share