The ViaWest Group is pleased to announce two new leases totaling 80,635 SF 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 located just one mile south of a full-diamond interchange on the I-10 Freeway. Walmart will occupy 74,642 SF for temporary storage purposes while Custom Bilt Holdings has signed a long-term lease for 5,993 SF. The property was only 16% leased when ViaWest purchased the asset in January 2015. With the execution of these two leases, Tiger’s occupancy will increase to 94%.
These leases mark significant progress for ViaWest’s Select Strategies Fund focused on the acquisition of general industrial properties in Southwestern U.S. “We purchased Tiger earlier this year with a vision of adding value through strategic property enhancements coupled with our proactive leasing and management approach,” says Gary Linhart, Founding Principal at ViaWest Group. “We’re excited about these deals and want to keep the momentum going at this project by landing a long-term tenant to backfill Walmart in the coming months.” ViaWest’s Fund includes several Arizona properties, a recently acquired industrial center in El Paso, and is currently searching both locally and in neighboring states for new acquisitions.
Custom Bilt Holdings is a Dallas-based metal roofing and gutter manufacturer with an emphasis on eco-friendly technology. “We are excited to land such top-tier companies at the project and look forward to growing our relationships with both Custom Bilt and Walmart,” said Danny Swancey with ViaWest.
Riley Gilbert of Jones Lange LaSalle cites “responsive management, functional lease-ready space, and great access to freeways” as some of the factors that attracted Walmart and Custom Bilt. JLL will continue to market the project’s remaining vacancy.