DAUM Commercial Real Estate Services has arranged a 42,000-square-foot, full-building lease at a Phoenix industrial facility. Executive Vice President David Wilson and Associate Carter Wilson represented the landlord and assisted the tenant, Empire Metal Products. The 10-year lease has a total value of $4.3 million.
Built in 1980, the facility is fully air conditioned and has 277/480-volt three-phase power with 3,600 amps, 18-foot clear heights and 12- by 16-foot grade-level overhead doors. According to Yardi Matrix, the asset last changed hands in 2017 for $4.2 million.
Located at 2362 W. Shangri-la Road, on 2.2 acres, the Class B property is just off Interstate 17. According to Carter Wilson, the asset is 2 miles from the tenant’s long-term headquarters, from which Empire Metal is planning to relocate and expand its manufacturing operations. The new location is 11 miles from downtown Phoenix.
At the end of July, another DAUM team negotiated a full-building industrial sublease outside Los Angeles. Robertson Properties Group owns the 254,700-square-foot property in La Mirada, Calif.