TEMPE, AZ – Cushman & Wakefield of Arizona, Inc. negotiated the $11.4 million ($59 PSF) sale of a former electronics manufacturing/warehouse building at 615 S. River Dr in Tempe, AZ.

The 193,000-square-foot property was built in 1982, expanded in 1994 and expanded again in 1997. It includes 176,000 square feet of fully air-conditioned manufacturing and warehouse space and 17,000 square feet of office space. It sits on 16.5 acres with direct frontage on the Loop 101 and close proximity to the Scottsdale and Chandler submarkets.

“EverWest Real Estate Partners and CarVal Investors will reposition the property as creative office space and will fill the void felt by the many tech-related users in the market seeking modern, collaborative office environments with above-standard parking,” said Chad Littell.

“We are excited about the opportunity this building will bring to the market. Upon completion of the renovations, the property will offer high-tech creative office space with a 7:1 parking ratio in a thriving and high-demand large user market,” said Curt Kremer, Managing Director – Acquisitions with EverWest Real Estate Partners.

Littell, Chris Toci, Jackie Orcutt and John Grady of Cushman & Wakefield of Arizona collaborated with John Boyd of Signature Associates in Michigan, a Cushman & Wakefield affiliate, and Tim Callahan of Cushman & Wakefield Florida, to represent Jabil. The buyers are EverWest Real Estate Partners and CarVal Investors. Jerry Noble, Ryan Bartos and Orcutt of Cushman & Wakefield will be retained to handle the leasing.

St. Petersburg, Fla.-based Jabil announced it would close the facility last September. Jabil moved into the building in 2005 when it took over an electronics manufacturing business.

To learn more Littell, Toci, Orcutt, Bartos and Grady can be reached at the Cushman & Wakefield office in Phoenx at (602) 253-7900.

GLENDALE, AZ– Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease for 23,288-square-feet of industrial space at 5714 N. 51^st Ave., bringing Sunbelt Rentals, Inc. to the property.

This marks a new location for Sunbelt Rentals Inc., the second-largest equipment rental company in the United States. Sunbelt took occupancy of the property this month and is occupying the entire building.

“The landlord’s property offers the tenant a desirable location for its equipment rental business,” said Keri Scott. “Its proximity to major arteries (NW Grand Ave. and W. Bethany Home Rd.) makes this facility ideal for the company’s clients in the construction industry.”

Scott, Jackie Orcutt and John Grady of Cushman & Wakefield represented the landlord, ABC Contractor Supply Co. in the lease negotiations. Rob Martensen of Colliers International represented the tenant.

To learn more Scott and Orcutt can be reached at (602) 253.7900, Grady should be called at (602) 229.5834. Martensen can be contacted at (602) 222.5082 and go to www.sunbeltrentals.com for more information.

TEMPE, AZ– Cushman & Wakefield of Arizona, Inc. negotiated a lease bringing The Chef’s Warehouse to 14,488 square feet of space at 745 W. Fairmont Dr. in Tempe.

Headquartered in New York, The Chef’s Warehouse is a specialty food distributor that began sourcing products for high-end chefs more than 30 years ago. The company has locations in major metropolitan areas across the U.S. and in Canada. This is the first Chef’s Warehouse location in Arizona.

The lease brings the property to 100 percent leased and The Chef’s Warehouse will take occupancy this summer.

“The food industry has had a lot of recent growth in the Phoenix market,” said Jackie Orcutt. “We are happy to assist the landlord in achieving 100 percent occupancy with this transaction.”

Orcutt and John Grady of Cushman & Wakefield represented the landlord, Valor Fairmont, LLC of Phoenix. The tenant was represented by Paul Sieczkowski of Colliers International.

To learn more, Orcutt and Grady should be reached at (602) 253-7900. Sieczkowski can be contacted at (602) 222-5085.