ViaWest Group recently signed a new 37,422 SF lease at its Tiger Industrial Center in Phoenix. Located at 4901 & 4929 West Van Buren, the two-building complex is comprised of 103,064 SF and is located just one mile south of a full-diamond interchange on the I-10 Freeway. Snyder’s-Lance will relocate and expand its presence in the Valley by occupying 37,422 SF. This property was only 16% leased when ViaWest purchased the asset in January 2015 and now stands at approximately 60% just one year later.
This lease marks another notable occasion for ViaWest’s Select Strategies Fund focused on the acquisition of general industrial properties in Southwestern, U.S. “We’ve recently finalized many value-add enhancements at the property and it’s great to see that this has been well-received in the market,” says Brad Dales of ViaWest.
Snyder’s-Lance creates and markets snack foods internationally, including pretzels, potato chips, crackers, cookies, nuts and more. They have production facilities in 9 states and are headquartered in Charlotte, North Carolina. “We are excited to add another top-tier company to this project and look forward to growing our relationship with Snyder’s-Lance,” says Danny Swancey with ViaWest.
Riley Gilbert with Jones Lang LaSalle’s Phoenix office represented the Owner on the Snyder’s-Lance lease and is currently marketing the remaining 43,588 SF available in the project. Cooper Fratt with CBRE’s Phoenix office represented the Tenant.
Riley Gilbert of Jones Lange LaSalle cites “responsive management, functional lease-ready space, and great access to the I-10 freeway” as some of the factors that attracted Snyder’s-Lance. JLL will continue to market the project’s remaining vacancy.
ViaWest’s Fund includes several Arizona properties, an industrial center in El Paso, and is currently searching both locally and in neighboring states for new acquisitions.