EverWest Real Estate Partners and CBRE are on a roll at 10 Chandler, signing six new leases in five months at the East Valley industrial park. Several of the new tenants have moved into the development this quarter. The remainder will move in by year’s end.
The new leases – which total more than 98,000 square feet – bring the project to 86 percent occupied.
Located at 450 – 590 N. 54th St. in Chandler, Arizona, 10 Chandler totals 37 acres with more than 553,000 square feet of space in nine flex/industrial buildings. The park is centrally located in the heart of the Chandler Tech Corridor, offering approximately 1,150 feet of I-10 frontage, premier freeway-facing signage and freeway access via three full diamond interchanges.
The latest leases at 10 Chandler include:
- Babytown – New lease commitment for 12,000 square feet.
- DNB Engineering– Expanded into an additional 16,000 square feet.
- Heads Up Helmets– New lease commitment for 6,000 square feet.
- M+W U.S., Inc. – New lease commitment for 33,000 square feet.
- Inyati Bedliners – New lease commitment for 20,000 square.
- Stretch to Win Institute– New lease commitment for 11,000 square feet.
These companies will join existing tenants at 10 Chandler including Origami Owl, Cloud Blue, Eaton, Paradise Bakery and Toshiba.
CBRE First Vice Presidents Jackie Orcutt and John Grady serve as the exclusive leasing brokers for the property. Hired to handle the leasing in mid-February, the CBRE team has brought the property from 65 to more than 86 percent leased in just a short time.
“EverWest has taken a thoughtful approach toward building a strong base of credit tenants that reflect a healthy and diverse metro industrial market,” said Orcutt.
She also points out that the Chandler submarket is one of the strongest in the Valley, posting more than 1 million square feet of positive net absorption so far in 2016. She says 10 Chandler is particularly well situated to continue to capitalize on activity in the submarket. “The project’s location in west Chandler along I-10 is perfect for growing manufacturing, tech and defense/aerospace-related firms who need a strong labor base in a central location with a great deal of amenities.”
Among the amenities at 10 Chandler are up to 26-foot clear height ceilings, up to 50 x 30-foot column spacing, a mix of dock-high and grade-level doors, and generous parking. Building features are enhanced by nearby market amenities, including more than five hotels, 25 restaurants and multiple major shopping and power centers within a one-mile radius.
10 Chandler is a short drive to Sky Harbor International Airport and Phoenix-Mesa Gateway Airport, as well as the amenities and employment pools of downtown Tempe, downtown Phoenix and the East Valley. The park sits just north of the I-10/Loop 202 intersection, which reports a traffic count of 212,217 vehicles per day.
Select vacancy remains at 10 Chandler, including approximately 42,000 square feet in Building 2 and 19,000 square feet in Building 6. EverWest is also under construction on an 18,000-square-foot speculative suite in Building 1, with an expected completion date of January 2017.