{"id":1004125066,"date":"2015-08-11T06:48:37","date_gmt":"2015-08-11T14:48:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004125066"},"modified":"2020-04-06T06:53:09","modified_gmt":"2020-04-06T14:53:09","slug":"conor-globe-follow-pent-up-demand-to-arizona","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/conor-globe-follow-pent-up-demand-to-arizona\/","title":{"rendered":"Conor, Globe Follow Pent-Up Demand to Arizona"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004125068\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Sven-Tustin-Conor-Commercial.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004125068\" data-attachment-id=\"1004125068\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/conor-globe-follow-pent-up-demand-to-arizona\/sven-tustin-conor-commercial\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Sven-Tustin-Conor-Commercial.jpg\" data-orig-size=\"336,349\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;3.2&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;KODAK Z812 IS ZOOM DIGITAL CAMERA&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1196676200&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;10.5&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.033333333333333&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Sven Tustin Conor Commercial\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Sven Tustin, Conor Commercial&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Sven-Tustin-Conor-Commercial.jpg?w=336\" class=\"size-thumbnail wp-image-1004125068\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Sven-Tustin-Conor-Commercial.jpg\" alt=\"Sven Tustin Conor Commercial\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004125068\" class=\"wp-caption-text\">Sven Tustin, Conor Commercial<\/p><\/div>\n<p>There\u2019s nothing like land to add a little reality to a development endeavor, and that\u2019s just what <a href=\"https:\/\/www.conorcommercial.com\/\" target=\"_blank\" rel=\"nofollow\">Conor Commercial Real Estate<\/a> and <a href=\"https:\/\/www.globecor.com\/\" target=\"_blank\" rel=\"nofollow\">Globe Corp.<\/a>have gotten their hands on for AZ|60, a new speculative industrial project in Gilbert, Ariz. The joint venture partners recently acquired a 16-acre parcel from Earnhardt Properties L.P., paving the way for the 225,000-square-foot suburban Phoenix facility.<\/p>\n<p>Conor and Globe have a very good reason for taking the speculative route. Simply put, Sven Tustin, vice president with Conor, told <em>Commercial Property Executive<\/em>, \u201cThere is a significant level of pent-up demand for modern industrial space within the Gilbert industrial submarket.\u201d<\/p>\n<p>It\u2019s all in the numbers. Tustin added that while Gilbert\u2019s existing inventory only represents 6.4 percent of the overall Metro Phoenix industrial base, in 2014, it captured 19.5 percent of the overall net absorption&#8211;a strong indicator of the desirability of the submarket. Enter AZ|60.<\/p>\n<p>AZ|60 will encompass two state-of-the-art buildings within the Fiesta Tech Center, roughly 20 miles outside of downtown Phoenix. The first structure will feature 104,900 square feet and a second building will deliver 120,700 square feet. Both are likely to be well received, given the project\u2019s premier accommodations and prime location.<\/p>\n<p>\u201cSpecifically, manufacturing companies that operate near AZ|60 are in growth mode, and they seek to expand into facilities with modern functionality such as high clear heights, efficient truck maneuverability, sufficient employee parking, and amble electrical power,\u201d said Tustin. \u201cThese companies employ highly skilled labor that live in the surrounding area, so they prefer to stay in their current locations and close to their employees.\u201d<\/p>\n<p>However, Gilbert has been seeing its share of leasing activity&#8211;approximately 261,300 square feet in the second quarter, according to a report by commercial real estate services firm JLL&#8211;and now the top-notch pickings are slim. \u201cDue to the age and condition of the existing facilities in the area, there are very few options to expand without relocating,\u201d Tustin added. \u00a0 AZ|60\u2019s infill location and modern design can satisfy this demand by providing flexible and contemporary industrial space allowing companies to expand operations within desired locale.\u201d<\/p>\n<p>Conor and Globe have tapped JLL\u00a0vice president Steve Larsen and managing director Bill Honsaker to market space at AZ|60 for sale or lease. Larsen and Honsaker represented the joint venture in the land acquisition, while George Haugen, designated broker with Haugen Commercial, stood in for the seller. The project is on track to reach completion in April 2016.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s nothing like land to add a little reality to a development endeavor.<\/p>\n","protected":false},"author":969,"featured_media":1004125068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742],"tags":[],"class_list":["post-1004125066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Conor, Globe Follow Pent-Up Demand to Arizona - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/conor-globe-follow-pent-up-demand-to-arizona\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Conor, Globe Follow Pent-Up Demand to Arizona\" \/>\n<meta property=\"og:description\" content=\"There\u2019s nothing like land to add a little reality to a development endeavor.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/conor-globe-follow-pent-up-demand-to-arizona\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-11T14:48:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-06T14:53:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/08\/Sven-Tustin-Conor-Commercial.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"336\" \/>\n\t<meta property=\"og:image:height\" content=\"349\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Conor, Globe Follow Pent-Up Demand to Arizona\",\"datePublished\":\"2015-08-11T14:48:37+00:00\",\"dateModified\":\"2020-04-06T14:53:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/\"},\"wordCount\":426,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Sven-Tustin-Conor-Commercial.jpg\",\"articleSection\":[\"Development\",\"Industrial\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/conor-globe-follow-pent-up-demand-to-arizona\\\/\",\"name\":\"Conor, Globe Follow Pent-Up Demand to Arizona - 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