{"id":1004157108,"date":"2016-10-27T00:59:15","date_gmt":"2016-10-27T08:59:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157108"},"modified":"2020-04-05T23:36:08","modified_gmt":"2020-04-06T07:36:08","slug":"jll-tapped-to-lease-class-a-phoenix-industrial-site","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-tapped-to-lease-class-a-phoenix-industrial-site\/","title":{"rendered":"JLL Tapped to Lease Class A Phoenix Industrial Site"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004157109\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Marc-Hertzberg.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004157109\" data-attachment-id=\"1004157109\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jll-tapped-to-lease-class-a-phoenix-industrial-site\/marc-hertzberg\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Marc-Hertzberg.jpg\" data-orig-size=\"659,623\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Marc Hertzberg\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Marc-Hertzberg.jpg?w=659\" class=\"wp-image-1004157109 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Marc-Hertzberg.jpg\" alt=\"Marc Hertzberg, JLL\" width=\"300\" height=\"284\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Marc-Hertzberg.jpg 659w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Marc-Hertzberg.jpg?resize=300,284 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004157109\" class=\"wp-caption-text\">Marc Hertzberg, JLL<\/p><\/div>\n<p><strong>Phoenix<\/strong>\u2014<a href=\"https:\/\/www.meritpartners.com\/\" target=\"_blank\" rel=\"nofollow\">Merit Partners Inc.<\/a> has named the\u00a0Phoenix office of <a href=\"https:\/\/www.jll.com\/\" target=\"_blank\" rel=\"nofollow\">JLL\u00a0<\/a>as the exclusive leasing broker for Riverside 43, a 250,043-square-foot, fully speculative Class A industrial project that recently broke ground in Phoenix\u2019s West Valley submarket.<\/p>\n<p>\u201cThe appeal of this building comes from its collective strengths, ranging from a modern, state-of-the-art function and direct interstate access to the financial benefits of a major tax district,\u201d Marc Hertzberg, JLL managing director, told <em><a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">Commercial Property Executive<\/a><\/em>. \u201cIt is also extremely flexible, with the ability to accommodate both mid-size and larger users. Together, it makes for a powerful combination.\u201d<\/p>\n<p>Located at 2200 S. 43rd\u00a0Ave., Riverside 43 will total 250,043 square feet of modern <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial\/\" target=\"_blank\">industrial space<\/a> with Class A amenities, including 310-foot-deep cross dock configuration and 71 dock-high loading doors.<\/p>\n<p>\u201cThis building is modern to its core, with 36-foot clear height ceilings, R-30 insulation, on-site trailer parking and a cross-dock configuration that gives users the critical operational efficiencies that every progressive company is looking for,\u201d Hertzberg said.<\/p>\n<p>When completed, the project can accommodate up to four tenants with four separately accessed secure yards.<\/p>\n<p>Riverside 43 is located approximately 10 minutes from downtown Phoenix and Phoenix Sky Harbor International Airport. It is also less than 3\u00a0miles from I-10, offering direct access to West Coast ports and placing numerous large urban areas within a one- to two-day delivery zone.<\/p>\n<p>\u201cThe Riverside Tax District alone can save companies as much as 20 percent on their property tax bill,\u201d Hertzberg said. \u201cThis is in addition to an exceptional site location that provides direct access to\u00a0both\u00a0I-10 and I-17.\u201d<\/p>\n<p>According to JLL\u2019s Q3 Phoenix Industrial Report, speculative industrial construction dominates the remainder of the metro market pipeline. This is a contrast to the past 12 to 24 months, when build-to-suit activity represented a large portion of construction and has greatly contributed to the 4.25 million square feet of new space delivered to the Valley year-to-date. With average industrial vacancy rates hovering at around 9.6 percent, builders are turning their attention to speculative opportunities of all sizes.<\/p>\n<p>\u201cWe\u2019ve seen 6 million square feet of gross activity in the Southwest Valley, year-to-date. A good portion of that includes existing user expansions and out-of-state relocations,\u201d Hertzberg said. \u201cThis level of demand has placed a premium on existing space and created more demand in the pipeline, which equates to a very smart time to build.\u201d<\/p>\n<p>The project is slated for completion in spring 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Riverside 43 will total 250,043 square feet of modern industrial space upon completion in 2017.<\/p>\n","protected":false},"author":451,"featured_media":1004157109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21808,21748,21742,1601],"tags":[],"class_list":["post-1004157108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-featured","category-industrial","category-latest","category-phoenix"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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