{"id":1004194325,"date":"2017-10-19T09:22:23","date_gmt":"2017-10-19T17:22:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004194325"},"modified":"2022-12-08T13:49:16","modified_gmt":"2022-12-08T21:49:16","slug":"phoenix-industrial-asset-reaches-full-occupancy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/","title":{"rendered":"Phoenix Industrial Asset Reaches Full Occupancy"},"content":{"rendered":"

By Tudor Scolca<\/p>\n

\"Reywest<\/a>

Reywest Industrial Park<\/p><\/div>\n

Colony NorthStar recently acquired a two-building Phoenix portfolio for $18.7 million\u2014Reywest Commerce Center and Reywest Industrial Park. The properties are located at 3602 and 3555 W. Washington St., respectively.<\/p>\n

At the time, the properties were 46 percent occupied. JLL\u2019s Phoenix office completed a final lease, bringing both to full occupancy. The two firms have an ongoing relationship: JLL brokered the sale of another Phoenix industrial portfolio<\/a>, for $39 million, earlier this year.<\/p>\n

Growing industrial market<\/h2>\n

The new tenants are InVue, a retail security developer and distributor, and Aquafil, a fabric manufacturer. InVue plans to move by the end of the year into the new 58,306-square-foot space within Reywest Commerce Center. Across the street, Aquafil will occupy 116,890 square feet at Reywest Industrial Park. Other tenants of NorthStar\u2019s buildings include Del Monte Fresh and Hadrian.<\/p>\n

\u201cEach of these deals is a reflection of our rising Phoenix industrial market, where vacancy rates are at a ten-year low and absorption is on pace to reach an all-time high. The combination makes the Colony NorthStar portfolio an absolute home run for both the owner and its new tenants,<\/em>\u201d said Riley Gilbert, vice president at JLL\u2019s Phoenix office, in a prepared statement. Together with Managing Directors Anthony Lyndon and Marc Hertzberg, the team worked on behalf of Colony NorthStar in both leases.<\/p>\n

Image courtesy of JLL<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

JLL signed new tenants InVue and Aquafil, bringing Colony NorthStar’s industrial portfolio to full occupancy. The market’s record-low vacancy and all-time high absorption rates made for an attractive investment opportunity.<\/p>\n","protected":false},"author":1284,"featured_media":1004194326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21748,21742,1601,15],"tags":[33430,32796],"class_list":["post-1004194325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-industrial","category-latest","category-phoenix","category-west","tag-colony-northstar","tag-jll"],"acf":[],"yoast_head":"\nPhoenix Industrial Asset Reaches Full Occupancy - 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\/phoenix-industrial-asset-reaches-full-occupancy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Industrial Asset Reaches Full Occupancy\" \/>\n<meta property=\"og:description\" content=\"JLL signed new tenants InVue and Aquafil, bringing Colony NorthStar's industrial portfolio to full occupancy. The market's record-low vacancy and all-time high absorption rates made for an attractive investment opportunity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/\" \/>\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=\"2017-10-19T17:22:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:49:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/3602-W-Washington-Street.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1747\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/\",\"name\":\"Phoenix Industrial Asset Reaches Full Occupancy - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/3602-W-Washington-Street.jpg\",\"datePublished\":\"2017-10-19T17:22:23+00:00\",\"dateModified\":\"2022-12-08T21:49:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/3602-W-Washington-Street.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/3602-W-Washington-Street.jpg\",\"width\":1747,\"height\":1000,\"caption\":\"Reywest Industrial Park\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/phoenix-industrial-asset-reaches-full-occupancy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Phoenix Industrial Asset Reaches Full Occupancy\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\",\"name\":\"Tudor Scolca\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/TudorScolca_AuthorBio.jpg?w=96\",\"caption\":\"Tudor Scolca\"},\"description\":\"Tudor Scolca-Seu\u0219an is an Associate Editor with Commercial Property Executive and Multi-Housing News. 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