ViaWest Group Buys Insight’s Arizona Assets for $26.85 Million
New Industrial Park Planned for Insight’s Current Headquarters Site
Phoenix, Arizona – ViaWest Group of Phoenix has purchased three real estate assets in Tempe from Insight Enterprises, Inc. for $26.85 million. The portfolio includes Insight’s corporate headquarters building situated on a 19-acre site at 6280 S. Harl Ave. ViaWest plans to replace the building and re-develop the property into a Class A industrial park. Insight has purchased a building in Chandler, Arizona for its new headquarters, One Insight Way.
In addition to the Insight headquarters property, ViaWest purchased a 130,270-square-foot industrial/back office building at 910 W. Carver Ave. and an adjacent 56,240-square-foot office building at 8123 S. Hardy Ave.
“These properties offered us the unique opportunity to re-develop some highly appealing, infill locations,” says Steven Schwarz, founding partner of ViaWest Group. “Demand for quality industrial space in this submarket is very high with extremely limited supply available. Tenants from out of state and within our market are desperate for modern, attractive industrial space in strong locations. We plan to provide the premier industrial buildings offered in the City of Tempe.”
The three properties were purchased by a joint venture partnership led by ViaWest Group. The seller Insight Enterprises, Inc. was represented by Phil Breidenbach and Kathy Foster of Colliers International in Arizona who handled the sale transaction.
The 19-acre property at 6280 S. Harl Ave. includes the 102,000-square-foot headquarters building for Insight. The company will remain in the building until December 2021, when the headquarters will relocate to a new facility in Chandler. ViaWest will promptly demolish the existing structure and begin construction of two, Class A industrial buildings totaling 358,114 square feet of space. The contemporary, tilt-up buildings with freeway visibility will feature 32-foot clear heights and a shared truck court. Each structure will be suitable for multi-tenant leasing divisible to 30,000 square feet, or for a single user. The buildings will be constructed on a speculative basis and are expected to be completed in mid-2022. Rob Martensen of Colliers International in Arizona serves as exclusive leasing agent for the new buildings. The architect for the buildings is McCall & Associates and Wilmeng will serve as general contractor.
The 910 W. Carver Ave. property includes a 100,270-square-foot industrial/back office building with an additional 30,000-sqaure-foot mezzanine area. Insight currently occupies 70,000-square-feet of the building and will remain until December 2021. ViaWest plans to completely reconstruct the interior of this building and re-position it as an air-conditioned industrial building of 100,000- to 110,000-square-feet with 32’ clear height, 6000 amps of power, a 1.8 acre outside storage area, and up to 10.2 per 1000 parking spaces. The company will begin interior reconstruction of the vacant 30,000-square-feet soon, finishing the remaining portion when Insight vacates the property. Rob Martensen of Colliers International in Arizona will handle leasing of this re-positioned building, which is scheduled for completion mid-year 2022.
The 910 W. Carver Ave. and 8123 S. Hardy Ave. properties are adjacent to each other, totaling 15.22 acres and include a 4-story parking garage. The 8123 S. Hardy Ave. asset contains the 56,240-square-foot office building with 7.0 per 1,000 s.f. parking spaces that can be expanded and is currently occupied by TTEC (NASDAQ:TTEC) as a call center. The company is contracted to occupy the space through December 2022. Plans for this property may include sale to another investor or a user, or continued ViaWest ownership.