DAUM Commercial Real Estate Services has arranged the lease of a recently built industrial warehouse in the Phoenix suburb of Tolleson, Ariz. The firm worked on behalf of Calgary, Canada-based Hopewell Development, whose U.S. portfolio also includes properties in Texas and Nevada.
National distribution company Republic National Distributing Co. leased the space within two months of the property’s completion. The 173,940-square-foot lease consideration amounts to $12 million.
DAUM’s Executive Vice Presidents Chris Rogers and Trevor McKendry, along with Associates Dan Casey and Parker Houston completed the deal.
Located at 320 S. 91st Ave., the building features 28 dock-high loading doors, a 32-foot clear height, 3,600 amps, R-19 insulation, four grade level doors, a fenced and gated concrete truck court with 130-foot depth, an ESFR sprinkler system and LED lighting.
The unoccupied land was sold to Hopewell back in June of 2019. Rogers noted that the company then partnered with Sunstate Builders in delivering the state-of-the-art property. McKendry added in prepared remarks that Republic National Distributing Co. was attracted to the location because it is situated 10 miles outside of downtown and offers convenient access to Interstate 10.
Cushman & Wakefield’s Andy Markham and Will Strong, along with Mike and Phil Haenel, represented the new tenant. DAUM has been very active in arranging leases within the Phoenix area. In August, the company represented the landlord and assisted tenant Empire Metal Products in the lease transaction of a 42,000-square-foot industrial property.