Lee & Associates Brokers 10-Year+, 109,060 Square Foot Lease at Canal Crossing

Canal Crossing in Phoenix
Canal Crossing in Phoenix
A leading auto aftermarket company has signed a 10-year + lease for 109,060 square feet at Canal Crossing Logistics Center at 5670 S. 32nd St. in Phoenix. The project is currently under construction.

Lee & Associates principals Jeff Conrad and Allen Lowe represented the landlord, Conor Commercial Real Estate (a real estate development and investment arm of The McShane Companies) and Globe Corporation in this transaction. Mike Parker and Evan Koplan of CBRE along with Jacob Bobek of Avison Young represented the tenant, LKQ Corporation.

“We are excited to have secured LKQ as the anchor tenant for Canal Crossing Logistics Center. Landing a commitment from LKQ, a Fortune 500 company, before construction had even begun, speaks to the projects’ strategic central location and modern, functional design,” says Conrad.

LKQ Corporation is a leading international provider of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks and recreational and performance vehicles. The company will occupy 70 percent of the 155,351-square-foot building.

As developed, Canal Crossing Logistics Center is an industrial building currently scheduled to be delivered in February 2015. Conrad and Lowe are marketing the remaining 46,054 square feet that remains available. “The Airport submarket has been thirsty for new Class A distribution product to choose from. This deal further substantiates that momentum,” Conrad adds.

The building features 30’ clear height, two drive-ins and ESFR sprinklers. The project sits on 10.09 acres and is located just south of Phoenix Sky Harbor International Airport.

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