Aerostar Aerospace Manufacturing, a manufacturer of high-complexity machine parts used in commercial aircraft, has completed a 7-year lease on an industrial/manufacturing building located at 2688 East Rose Garden Lane in Phoenix, Arizona. The property is owned and operated by Generic Investments II, LLC. Kidder Mathews commercial real estate brokers, Mike Ciosek, Eric Bell, and Dylan Scott represented both parties in the transaction.
The +/- 55,312 square foot building is located in the highly sought-after Deer Valley submarket, which is home to several Fortune 500 companies. It is one of the largest free-standing, state-of-the-art manufacturing buildings in the submarket. It was formerly occupied by Airaid, a manufacturer of performance air-intake systems, who was recently acquired by K&N Air Filters.
“This past year, we’ve seen a lot of quality high-tech manufacturers in the area searching for additional space to accommodate their expansion needs. It was fantastic to have the ability to keep one of Deer Valley’s long-standing employers in Deer Valley,” said Ciosek.