Purpose: To help businesses grow into their success by finding the perfect property for the the right price.
Founded: Mc2 was established in 2007 when two powerhouse industrial brokers made an alliance that has since dominated the Phoenix Industrial Real Estate Market. Ken and Chris took the best of what was working for them individually and developed the science of real estate which they have used to gain the confidence of many developers and change the landscape of industrial real estate, one transaction at a time.
Career bucket list: To successfully close a transaction with every developer in Metro Phoenix.
We love the Press! If you would like to feature Chris McClurg, SIOR or Ken McQueen and one of our recent deals, please email awhite@leearizona.com or call Ashlei White at 602.912.3526.
Press Coverage
California's SolarCycle Inks Lease at Huge Spec East Valley Industrial Park
Phoenix Business Journal | Ron Davis | July 25, 2023
The Hub@202 is being developed by a joint venture between New York-based Wharton Industrial and Madison Ventures Plus. Peter Lewis, president, chairman and founder of Wharton, said the brokerage team of Lee & Associates Arizona is in talks about leasing deals with two additional companies in energy storage along with an East Coast electronics company that's looking to establish a presence out west.
The 11-building, 1.5 million-square-foot park was originally set to be developed in phases, with the first one starting construction last August. Lewis said the plans pivoted toward developing the entire project at once as a spec park. Wharton is nearing the completion of four of the 11 buildings and is now building vertically on four others. To avoid a lag in the build-out and meet the timing needs of future tenants, the development team ordered materials through its supply chains ahead of time.
More Buildings Planned for Large Mesa Industrial Park
Phoenix Business Journal | Ron Davis |February 23, 2023
Elsewhere in Mesa, Mortenson tilted panels on the first phase of Pursuit Park, the developer announced Feb. 22.
The first phase of the development includes 640,000 square feet across three speculative industrial buildings. A fourth building at Pursuit Park is part of a second phase, according to a marketing flier from Lee & Associates Arizona. Mortenson tasked LaSalle Investment Management to manage the property.
Chris McClurg, Ken McQueen and Blake Peters of Lee & Associates are the listing brokers for Pursuit Park, which will be located on the northwest corner of Elliot Road and Signal Butte. Ware Malcomb is the architect of the project while Mortenson is developing and building the park. The developer is targeting the fourth quarter of 2023 to deliver the buildings.
Construction begins on huge Queen Creek industrial park: 14 more real estate deals to know
Phoenix Business Journal | Ron Davis |February 2, 2023
National real estate firm Thompson Thrift recently broke ground on the first phase of a new 1.1 million-square-foot industrial facility in Queen Creek.
Called Germann Commerce Center, the new facility will be developed at the southwest corner of Germann and Meridian roads on about 68 acres. At full build-out, it will feature 12 buildings ranging in size from 73,000 to 102,500 square feet each.
The first phase will comprise about 400,000 square feet of speculative light industrial space in five buildings across 26 acres. It's expected to be completed by the Q1 2024 with build-to-suit and for-sale options for phase two available immediately.
Northrop Grumman, Varsity Brands among leases signed at Gilbert industrial park
Phoenix Business Journal | Ron Davis |February 2, 2023
A Phoenix full-service long-distance moving company, S&M Moving Systems, took the entire 142,200-square-foot Building 10. The 66,400-square-foot Building 11 has been leased to Massachusetts-based distribution company Banner Industries and apparel company Varsity Brands.
The park is roughly 93% occupied with 21,000 square feet available at Building 11 and another build-to-suit pad available at Gilbert Spectrum.
Partnership Finishes Trio of Industrial Buildings Southeast of Phoenix
CoStar | Randyl Drummer |February 1, 2023
Three recently completed industrial buildings near Phoenix are already almost fully leased as businesses keep grabbing warehouse and manufacturing space across the region.
Developers GID Investment Advisors, based in Boston, and SunCap Property Group of Charlotte, North Carolina, just finished the buildings, which have a total footprint of 310,000 square feet. The trio are part of the 64-acre Gilbert Spectrum industrial park, which sits at McQueen and Elliot roads in Gilbert, Arizona, according to a statement from Graycor Construction Co., the joint venture's general contractor.
Year in Review: The Largest East Valley Industrial Projects
Phoenix Business Journal | Ron Davis |December 30, 2022
Contractors poured concrete for several major East Valley industrial projects in 2022 to keep up with demand. Brokers say the demand to fill massive warehouses and manufacturing buildings in that part of the Phoenix metro will follow into 2023.
Chris McClurg, principal at Lee & Associates, said semiconductor and electric vehicle industries, in-migration into the state, and vendors serving major companies including Google, Apple, Intel, and Meta dominated industrial leasing trends of 2022 in the East Valley. He said the ripple effects from the $40 billion investment made by Taiwanese Semiconductor Manufacturing Co. are being felt down near the Phoenix-Mesa Gateway Airport despite TSMC's campus being built more than an hour away in north Phoenix.
Logistics firm further expands its Valley footprint with new lease
Phoenix Business Journal | Ron Davis | November 18, 2022
Growing logistics firm AES Direct Express expanded its Valley footprint with two recent leases near Phoenix-Mesa Gateway Airport.
AES Direct Express, which does business as SKU Distribution, will take on a total of 250,000 square feet across two buildings located less than two miles apart from one another on Ray Road. The company will expand into a 142,735-square-foot facility at the Airgate Corporate Center as it signed an 87-month lease at 7353 E. Ray Road.
That follows a 62-month lease AES Direct inked at The Confluence at Mesa Gateway earlier this fall. The company will take nearly 110,000 square feet at 8932 E. Ray Road.
San Francisco-based Prologis breaks ground on second phase of industrial park near Sky Harbor
Phoenix Business Journal | Ron Davis | November 10, 2022
Jeff Foster, vice president and market officer for Prologis, expects construction to wrap up toward the end of the second quarter or the beginning of the third quarter in 2023.
Lee & Associates' Chris McClurg, Ken McQueen, Stein Koss and Tom Louer are the listing brokers for the Prologis I-17 Logistics Center. The group brought in several tenants across the four buildings in the first phase of the project led by KBR, which took more than 200,000 square feet. Other tenants included Abatix, Wheel Pros, Pillar Logistics, Criterion and Distribution International.
McQueen, however, is targeting larger tenants for the three buildings planned for phase two. He cited tenant demand, particularly near Sky Harbor, as a reason to target larger users to the park. The three buildings will encompass 78,759, 96,621 and 100,683 square feet.
Auction company, others sign new leases at East Valley industrial park
Phoenix Business Journal | Ron Davis | October 27, 2022
Three companies have expanded further in the Valley by way of a new business park near Phoenix-Mesa Gateway Airport.
Developer Ryan Companies confirmed that Las Vegas-based Nellis Auction, Portland-based electrical contractor OEG and Valley third-party warehousing, distribution and fulfillment provider SKU Distribution are three of the new tenants at The Confluence at Mesa-Gateway.
Expanded East Valley industrial park nearly 100% leased
Phoenix Business Journal | Ron Davis | October 18, 2022
“Metro Commercial Properties, Graycor and the entire project team worked perfectly in a competitive market to ensure this park was fully stabilized with quality tenants and long-term leases,” said Lee & Associates principal Chris McClurg in a statement.
McClurg and fellow Lee & Associates Principal Ken McQueen are the project’s leasing brokers.
Thompson Thrift Breaks Ground on 1 MSF Elliot Tech Center Mixed-Use Campus in Mesa, Arizona
ReBusiness Online | Katie Sloan| October 13, 2022
Thompson Thrift has broken ground on Elliot Tech Center, a 1 million-square-foot industrial and retail campus located at the intersection of Elliot and Signal Butte roads within Mesa’s Elliot Road Technology Corridor.
At full build-out, the project will span 75 acres and include eight industrial and retail buildings. The project is located northeast of Phoenix-Mesa Gateway Airport, north of Apple’s Global Command Center and east of Meta’s Mesa Data Center, which is currently under construction.
Indianapolis developer closes on land for second phase of Mesa industrial, retail park
Phoenix Business Journal | Ron Davis | September 20, 2022
As Thompson Thrift breaks ground on the first phase of the Elliot Tech Center, it secured the land to plan its next phase of the retail and industrial project in Mesa.
The Indianapolis-based developer closed Sept. 13 on 48.5 acres located near the northwest corner of Elliot Road and Signal Butte Road. The land wraps around the first phase of the Elliot Tech Center near Phoenix-Mesa Gateway Airport and will be used to build the next phase of Thompson Thrift's project.
Pair of Projects Could Add 5 Million Square Feet of Industrial Space to Gilbert
Phoenix Business Journal | Ron Davis | September 14, 2022
A pair of big industrial projects could bring more than 5 million square feet of industrial development to Gilbert.
Phoenix-based Creation Equity is proposing Lindsay 202, a 1.4 million-square-foot industrial project on Lindsay and Germann roads off the Loop 202. Nine miles to the northeast, Las Vegas-based IndiCap and partner Salt Lake City-based Colmena Group are proposing The Ranch, a 4.1 million-square-foot mixed-use project on more than 300 acres mostly on the southwest corner of Elliot and Power roads.
"Megawarehouses' take over: Phoenix sees uptick in large tenant industrial leases
Phoenix Business Journal | Ron Davis | August 29, 2022
Chris McClurg of Lee & Associates said that the East Valley doesn't command as much of the attention for 1 million-square-foot-plus leases compared to the West Valley, though Amazon and Lowe's each inked 1 million-square-foot deals this year near Phoenix-Mesa Gateway Airport.
More than 4.5 million square feet of industrial space breaks ground in the East Valley
Phoenix Business Journal | Ron Davis | August 16, 2022
Eight projects have started construction so far this month in one of the hottest areas for new industrial developments in the Valley.
Between Aug. 1 and Aug. 12, eight different developers broke ground on 4.5 million square feet in the southeast Valley near the Chandler Municipal Airport and Phoenix-Mesa Gateway Airport, according to Lee & Associates, a commercial real estate brokerage. The firm didn't know how much if any of the space has been leased to date.
Those projects are well-positioned to attract tenants to be vendors for nearby Apple Inc. and Facebook (now Meta Platforms Inc.) data centers as well as accommodating the electric vehicle and semiconductor industries, said Chris McClurg, principal at Lee & Associates.
New Industrial Project Set for Mesa Designed to Attract Heavy Manufacturing Tenant
Phoenix Business Journal| Brandon Brown | March 25, 2022
A new speculative industrial project being built near the Phoenix-Mesa Gateway Airport is being developed to attract a heavy manufacturing tenant.
PTK People & Projects to Know in Commercial Real Estate 2022
People & Projects to Know | Brokers: Industrial | p.14 | Nov 2022
Chris McClurg, SIOR 28 years at Lee & Associates
What's No. 1 on your commercial real estate bucket list?
"To successfully close a transaction with every developer in Metro Phoenix."
SunCap Breaks Ground on Phoenix-area Speculative Buildings
SunCap | November 2021
Developers GID and SunCap Property Group joined with local dignitaries and project stakeholders to break ground on Gilbert Spectrum's next major stage of development: three speculative industrial buildings.
Buildings 9, 10 and 11 will add 309,547 square feet of Class A industrial space at McQueen and Elliot Roads in Gilbert, Arizona, a high-tech, high-end suburb in metro Phoenix's Southeast Valley.
At build-out, the park will include up to 850,000 square feet of office, flex industrial and technology-related space. The three new speculative industrial buildings will range in size from 66,446 to 142,200 square feet, with divisibility to 20,000 square feet. Ken McQueen and Chris McClurg of Lee & Associates Arizona are the project's leasing brokers.
GID, SunCap Start construction on Three Spec Industrial Buildings at Gilbert Spectrum in Arizona
ReBusiness Online | Nov 19, 2021
GILBERT, ARIZ. — GID and SunCap Properties, along with Graycor Construction Co., have broken ground for the development of three speculative industrial buildings, totaling 309,547 square feet, at Gilbert Spectrum, a 64-acre industrial park in Gilbert.
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Completion is slated for May 2022. Graycor serves as the design-build general contractor and Balmer Architectural Group is the project architect. Ken McQueen and Chris McClurg of Lee & Associates Arizona are the project’s leasing brokers.
Developers Start Trio of Speculative Warehouses at Gilbert, Arizona, Business Park
Orion Investment Real Estate | Nov 22, 2021
The first Gilbert Spectrum building was a 136,000-square-foot warehouse at 196 S. McQueen Road that opened in 2019 that is fully leased to three tenants. A 120,000-square-foot administrative and engineering building for aerospace and defense giant Northrop Grumman opened earlier this year.
The latest phase of the 64-acre business park includes warehouses of 66,446 square feet, 100,000 square feet and 142,200 square feet with heights ranging from 28 to 32 feet that can be divided into smaller spaces for multiple tenants, the companies said in a statement.
Graycor Breaks Ground on 3 Spec Industrial Buildings at Gilbert Spectrum
AZ Big Media | Nov 21, 2021
At build-out, the park will include up to 850,000 square feet of office, flex industrial and technology-related space. The three new speculative industrial buildings will range in size from 66,446 to 142,200 square feet, with divisibility to 20,000 square feet. Ken McQueen and Chris McClurg of Lee & Associates Arizona are the project’s leasing brokers.
“Gilbert Spectrum is a great infill development that offers a variety of functional attributes for traditional industrial users,” said McQueen, principal with Lee & Associates Arizona. “With multiple points of ingress and egress, and centered between three freeways, the park offers an attractive corporate setting with proximity to skilled labor.”
GlobeSt.com | Sept 7, 2021 | Erika Morphy
Lee & Associates Arizona’s Mc2 team specializes in leasing, sales and development of industrial properties in the Southwest, primarily the Sky Harbor and Southeast Valley markets. Founded in 2012, the team consists of principals Ken McQueen and Chris McClurg, who have a combined 52 years of industrial brokerage experience. The pair focuses on tenant representation, with clients ranging from national corporations to locally-owned entities. The team’s deep experience in the Central Phoenix and SE Valley markets provides valuable insight on market rent trends, rental rates, landlord concessions and specific landlords. In addition, the firm maintains proprietary rent data on nearly all lease transactions in the market. The team has worked on 18 spec industrial or flex projects and it currently has 11 industrial projects in its pipeline. Despite COVID-19 disruption, McQueen and McClurg fostered a thriving industrial market and saw record leasing and absorption numbers. Thanks to the experience they gained during the Great Recession, the duo was able to shift gears, innovate and hire a marketing professional for the team that created a digital presence and enhanced connections with current and prospective clients. The Mc2 team sold or leased 2.9 million square feet in 2020, including a 210,000-square-foot lease to Amazon. The team has ranked among the company’s top producers and it has earned a variety of industry awards. Both professionals have served on the Lee & Associates board of directors. McQueen has been a principal at Lee & Associates since 2007. McClurg is involved in the firm’s policies and hiring practices. Both have been involved with mentoring more than a dozen agents at Lee & Associates.
PTK People & Projects to Know in Commercial Real Estate 2021
AZ Big Media | 2021
McClurg specializes in the representation of landlords and tenants in the leasing and sales of industrial/flex properties and land in the Metropolitan Phoenix real estate market. As a commercial real estate advisor, McClurg has represented the interests of multiple landlords, developers and tenants within Metropolitan Phoenix. He has completed over 830 transactions totaling over 14,738,763 square feet valued in excess of $453 million. His extensive knowledge of the Metropolitan Phoenix market is complemented by thorough analysis and marketing skills involving tenant relocation, tenant expansion, lease negotiations, market analysis and property marketing.
Work Starts on Final Buildings at Metro East Valley Commerce Center East of Phoenix
CoStar | July 15, 2021 |Randyl Drummer
Real estate developer Metro Commercial Properties and its general contractor Graycor Construction have started work on five industrial buildings expected to complete the Metro East Valley Commerce Center in Mesa, Arizona.
The buildings totaling 406,575 square feet are being built on speculation without signed tenants and will expand the industrial park along U.S. Highway 60, also called Superstition Freeway, to 1.1 million square feet, Graycor said in a press release.
More Major Industrial Projects in the Works for East, West Valley
Phoenix Business Journal | July 15, 2021 | Corina Vanek
Developers continue to roll out big plans for industrial construction on both the east and west sides of the Valley.
In Mesa, a joint venture between Ryan Cos. and DWS is planning to begin construction in August on a speculative light industrial park called the Confluence at Mesa Gateway, which will include six industrial buildings, ranging in size from 33,000 to 177,000 square feet, for a total of 516,121 square feet.
Honoring Net Lease Professionals
GlobeSt.com | July 8, 2021 | Ingrid Tunberg
In preparation for the GlobeSt. Net Lease Fall 2021 conference and GlobeSt. Real Estate Forum’s September issue, we are celebrating the top professionals within the net lease field.
NET LEASE TEAM INFLUENCERS: Lee & Associates Mc2
CBRE Secures 146,000 SF Lease for Rosendin Electric at Power 202 Business Park in Mesa
Real Estate Daily News & RED Comps | June 1, 2021 | RED News Service
PHOENIX, ARIZONA – CBRE has arranged a 146,000-square-foot industrial lease on behalf of Rosendin Electric, Inc. at Power 202 Business Park in Mesa, Ariz.
CBRE’s Mike Parker represented Rosendin in the lease negotiations. The landlord, Phoenix-based Bird Dog Industrial, was represented by Lee & Associates, Ken McQueen and Chris McClurg.
Rosendin is the largest employee-owned electrical contractor in the U.S., headquartered in San Jose, Calif. The space, located at 4617 S. Power Road, will serve as a prefabrication facility, offering the tenant proximity to a nearby job site.
Electrical Contractor Inks Big Mesa Lease For Fabrication Facility
Phoenix Business Journal | May 26, 2021 | Corina Vanek
The site will serve as a prefabrication facility, and will put Rosendin Electric in close proximity to a data center project that the company is working on.
Mike Parker of CBRE Group Inc. represented Rosendin in the lease negotiations. The landlord, Phoenix-based Bird Dog Industrial, was represented by Ken McQueen and Chris McClurg of Lee & Associates.
New Industrial Development Announced for Mesa's Gateway Area
Mesa Now | May 3, 2021 | Kim Lofgreen
Today, Abington Emerson announced it will construct a new Class A industrial development consisting of three buildings for a total of 97,121 square feet on 7.25 acres at the northwest corner of Ray Road and 71st Street next to the Phoenix-Mesa Gateway Airport. The $15.5 million project has freeway access to Loop 202 and is expected to be completed by the first quarter of 2022.
"Development in the Mesa Gateway area is catalyzed by investments like that of Abington Emerson," Mesa Mayor John Giles said. "Their Class A, built-to-suit buildings signify opportunity for businesses looking to locate in the area, and we look forward to seeing their completion in the coming months."
PHASE 3 CONSTRUCTION BEGINS ON 1.1M SF METRO EAST VALLEY COMMERCE CENTER
Orion Investment Real Estate | April 30, 2021
The five new buildings, which range from 58,000 SF to 112,000 SF, are designed by Scottsdale-based McCall & Associates Architects and will be constructed by Phoenix-based Graycor Construction, with completion scheduled in late Q4 of 2021. The buildings can accommodate tenant sizes as small as 6,000 SF and as large as 112,000 SF, with each tenant suite possessing both dock-high and grade-level loading capabilities. The buildings offer a diverse mix of clear-heights (up to 32 feet), along with healthy quantities of convenient employee and customer parking.
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Upon its completion later in 2021, the 11-building, 1.1 million square foot Metro East Valley Commerce Center will be one of the largest master-planned commerce parks in the entire Southeast Valley.
PHASE 3 CONSTRUCTION BEGINS ON 1.1M SF METRO EAST VALLEY COMMERCE CENTER
AZ Big Media| April 29, 2021 | AZRE
The joint venture of Tempe-based Metro Commercial Properties and Principal Real Estate Investors of Des Moines, Iowa announced the commencement of development for five new light industrial properties totaling 406,575 square feet to be added to the fully-occupied Metro East Valley Commerce Center.
The buildings are the newest additions to the successful Metro East Valley Commerce Center at US 60 and Mesa Drive in Mesa. Metro East Valley Commerce Center currently consists of six existing buildings totaling nearly 700,000 SF, which is currently fully leased.
REAL ESTATE COMPANY BUYS 10 ACRES OF MESA LAND FOR $3.2 MILLION
KTAR News| April 27, 2021
“The 10.3 acre site purchased by Wetta Ventures will offer direct freeway access and visibility to the Loop 202 freeway for industrial tenants,” McQueen said. “Complimented by abundant retail amenities along Power Road and access to skilled labor in the Mesa submarket, the location is suitable for traditional industrial users or light showroom users looking to capitalize on the freeway visibility.”
The industrial building is expected to bring in several companies including aerospace, home improvement and medical.
“The Phoenix-Mesa Gateway Airport has witnessed sustained absorption of industrial space from a variety of industries including aerospace, home improvement and décor users along with the standard users that service the heavy home growth at Eastmark,” McQueen said.
THE REAL ESTATE COMPANY IS BUYING 10 ACRES OF MESA LAND FOR $3.2 MILLION
Daily Mesa News| April 28, 2021 | Willie Johnson
PHOENIX – Early last month, a commercial real estate company sold three of its lots in the Ray Road Commerce Center in Mesa for $ 3.2 million.
Lee & Associates directors Ken McQueen and Chris McClurg sold 10.3 acres of land to Wetta Ventures, a real estate development and advisory firm, according to a press release.
Wetta Ventures plans to build a 146,887 square meter industrial warehouse. Development is scheduled to begin in July of this year.
Commercial Executive Magazine | April 21, 2021
The transaction closed March 22nd. Wetta Ventures will begin development in July of this year and plans to deliver by the end of the year. The proposed spec for the general industrial warehouse will be 146,887 square feet with future leasing divisible by 20,000 square feet. The highly functional industrial building is expected to bring in companies from a variety of industries including aerospace, home improvement, and medical.
LEE & ASSOCIATES IS SELLING 10.32 ACRES IN MESA FOR $3.2MILLION
Daily Mesa News | April 21, 2021 | Willie Johnson
Lee & Associates, specializing in providing exceptional commercial brokerage services to industrial, office, investment, apartment buildings, retail and real estate, announced the combined sale of Lots 2, 3 and 4 of the Ray Road Commerce Center in Mesa, Arizona.
The lots were sold by Lee & Associates principals Ken McQueen and Chris McClurg, SIOR, for $ 3,259,158. McQueen and McClurg represented the seller Orsett Properties and the buyer Wetta Ventures. The property comprises 10.32 acres and offers freeway visibility and accessibility to Loop 202 and proximity to Eastmark, Arizona’s largest housing development.
LEE & ASSOCIATES SELLS 10.32 ACRES IN MESA FOR $3.2M
AZ BIG Media | April 20, 2021 | AZRE
Lee & Associates, which specializes in providing exceptional commercial brokerage services of industrial, office, investment, multifamily, retail, and land announced the combined sale of lots 2, 3, and 4 of the Ray Road Commerce Center in Mesa, Arizona.
The lots sold for $3,259,158 by Lee & Associates Principals Ken McQueen and Chris McClurg, SIOR. McQueen and McClurg represented the seller, Orsett Properties, and the buyer, Wetta Ventures. The asset is comprised of 10.32 acres and offers freeway visibility and accessibility to the Loop 202, as well as proximity to Eastmark, Arizona’s largest residential development.
COMUNALE PROPERTIES ENTERS PHOENIX MARKET WITH CHANDLER CONNECTION INDUSTRIAL DEVELOPMENT
ReBusiness Online | April 16, 2021| Amy Works
CHANDLER, ARIZ. — Denver-based Comunale Properties, with Stevens-Leinweber Construction as general contractor, is developing Chandler Connection, a Class A industrial property located adjacent to the Chandler Municipal Airport in Chandler.
DENVER INDUSTRIAL DEVELOPER PLANS FIRST VALLEY PROJECT
Phoenix Business Journal | April 15, 2021 | Corina Vanek
Butler Design Group is the architect for the project and Ken McQueen and Chris McClurg of Lee & Associates are the leasing brokers. The building can accommodate leases ranging from the full building down to 14,500 square feet.
The Phoenix metro is expected to add a record-breaking 18.4 million square feet of industrial space in 2021, placing the Valley second for industrial space coming online this year nationwide, after Dallas.
HERE ARE THE BEST COMMERCIAL REAL ESTATE PROJECTS OF 2020
AZ BIG Media | January 2021 | AZRE
Chandler Airport Commerce Park
Phase one of this project includes three buildings totaling 337,840 square feet. Phase two consists of 201,400 square feet, bringing the total project square footage completed in 2020 to 539,240 square feet. The project offers secure concrete loading courts and high-quality design aesthetics, and the buildings provide a very efficient layout that effortlessly accommodates tenants.
GATEWAY TECHNOLOGY COMMERCE CENTER IN MESA SELLS FOR $21.4M
Daily Independent | Jan 26, 2021
“Gateway Technology Commerce Center is an excellent addition to MIG’s growing industrial portfolio and well located in one of Arizona’s best-performing sub-markets,” MIG Real Estate CEO Greg Merage said in a release. “MIG continues to aggressively seek opportunities to acquire assets throughout the Western U.S. and has significant discretionary capital to invest in existing, new development and redevelopment of multifamily, mixed use and industrial projects.”
MIG REAL ESTATE ACQUIRES GATEWAY TECHNOLOGY COMMERCE CENTER IN MESA FOR $21.4M
ReBusiness Online | Jan 26, 2021 | Amy Works
MESA, ARIZ. — MIG Real Estate has purchased Gateway Technology Commerce Center, a multi-tenant industrial and warehouse project located at 7535 E. Ray Road in Mesa. Phoenix-based Orsett Properties, the original developer, sold the asset for $21.4 million.
SunCap Property Group Sells Metro Phoenix Industrial Asset
Commercial Property Executive | Jan 13, 2021 | Adriana Marinescu
SunCap Property Group has sold a 135,745-square-foot light industrial building forming part of its 63-acre Gilbert Spectrum Business Park in Gilbert, Ariz. Boston-based GID Industrial paid $23.2 million for the Class A asset which was fully leased at the time of close.
Cushman & Wakefield Executive Managing Director Will Strong, Associate Greer Oliver and Analyst Connor Nebeker-Hay assisted SunCap in the disposition. Lee & Associates Principals Chris McClurg and Ken McQueen provided leasing advisory.
CRANE COMPANY SIGNS $7.9M LEASE TO KEEP UP WITH VALLEY'S CONSTRUCTION GROWTH
AZ BIG Media | Dec 21, 2020 | AZRE
Bragg Crane’s expansion will establish a new Arizona headquarters in the IOV-owned building that will house its administration services, 11 acres of land for outside storage and more than 40,000 SF of service, maintenance and warehouse structures.
“Bragg Crane expanding its operation and creating new jobs to keep up with the region’s construction demand is another positive sign for Greater Phoenix’s economy,” said Chris Camacho, President and CEO of the Greater Phoenix Economic Council.
NEW INDUSTRIAL DEVELOPMENT ANNOUNCED FOR MESA'S GATEWAY AREA
Mesa Independent | Oct 26, 2020
Bird Dog Industrial recently announced it will construct the Power 202 Business Park, a 330,000-square-foot Class A industrial park on approximately 19 acres on Power Road just north of Loop 202 in Mesa’s Gateway area.
COMMERCIAL REAL ESTATE TRANSACTIONS 09-22-20
AZBEX | Sept 22, 2020
CBRE has arranged a 10-year, 85KSF lease to GPMI Company, a disinfectant wipe manufacturer, at Gilbert Spectrum Building 1, 190 S. McQueen Road, Gilbert.
INSIDE THE DEAL: WHY A DISINFECTANT WIPES MANUFACTURER DECIDED TO GO BIG IN THE VALLEY
Phoenix Business Journal | Sept 21, 2020 | Corina Vanek
For months the company had planned a smaller-scale factory in Arizona. The insatiable demand from consumers for disinfectant wipes amid Covid-19 quickly moved that project up and now the manufacturer has leased a much larger facility than originally planned and will hire 200 people.
CBRE COMPLETES 85K-SF DEAL AT GILBERT FACILITY
Connect Phoenix | Sept 16, 2020 | Dennis Kaiser
SunCap Property Group signed a 10-year, 85,000-square-foot lease with GPMI Company at Gilbert Spectrum Building 1 in Gilbert. The disinfectant wipe manufacturer plans to bring its operations back to metro Phoenix after a 10-year hiatus.
NEW YORK BUYER SCOOPS UP VALLEY INDUSTRIAL BUILDINGS FOR $16.6M
Phoenix Business Journal | Feb 19, 2020 | Corina Vanek
Phoenix-based commercial real estate firm ViaWest Group has sold two industrial assets for $16.6 million to a New York-based investment firm.
CBRE COMPLETES 85,000SF INDUSTRIAL LEASE AT GILBERT SPECTRUM BUILDING 1
CBRE | Sept 15, 2020 | Becca Bogdansky
PHOENIX – CBRE has arranged a 10-year, 85,000-square-foot lease to GPMI Company, a disinfectant wipe manufacturer, at Gilbert Spectrum Building 1 in Gilbert, Arizona. The tenant will bring its manufacturing back to metro Phoenix after a 10-year hiatus.
COMMERCIAL REAL ESTATE TRANSACTIONS 11-12-19
AZ BEX | Nov 12, 2019 | Monica Tapia
Bird Dog Industrial purchased Gila Springs Industrial Park, a five-building industrial complex located near Chandler Boulevard and Kyrene Road, for $10M. Paul Sieczkowski Justin Sieczkowski of Colliers International in Arizona represented the seller in the transaction, GBI Erie LLC. Chris McClurg of Lee & Associates represented the buyer.
LA JOLLA-BASED BIRD DOG INDUSTRIAL PURCHASES FULLY LEASED PROJECT
Colliers International Arizona | Nov 7, 2019
Colliers International negotiated the sale of Gila Springs Industrial Park, a five-building industrial complex near Chandler Boulevard and Kyrene Road in Chandler, Arizona, for $10,069,910. Bird Dog Industrial, a La Jolla-based investment firm, purchased the property as its third industrial asset in metro Phoenix.
A NUANCED ANALYIS OF PHOENIX'S INDUSTRIAL MARKET BOOM
Commercial Property Executive | Nov 06, 2018 | Tudor Scola
With the metro boasting dynamic speculative industrial development, Lee & Associates Arizona Principal Chris McClurg explains why developers favor certain submarkets of the city.
in Business Greater Phoenix | September 2018 | Mike Hunter
Industrial demand remains high following a record 2017, with the Sky Harbor and Southeast Valley submarkets experiencing most of the activity since the last downturn, but demand is outpacing the current supply, spurring the adaptive reuse and modernization of existing buildings to keep up with growing demands and evolving tenant needs and to optimize the industrial landscape for future growth.
LEE & ASSOCIATES ARIZONA NEGOTIATES PURCHASE OF $10.3M INDUSTRIAL PROPERTY IN SKY HARBOR SUBMARKET
The Broker List
Ken McQueen and Chris McClurg negotiated the $10.3 million purchase transaction of a 117,885-square-foot industrial property situated on 12.17-acres in the heart of the Phoenix Sky Harbor International submarket.
MALAYSIAN MANUFACTURER FINDS A PHOENIX FACILITY
Bisnow National | Feb 22, 2017 | Dees Stribling
Scientex Phoenix acquired a 90k SF industrial building at 4501 West Polk St. in Phoenix (above), which was vacant at the time of the sale. The buyer, based in Malaysia, plans to start operations in the building in the second quarter of this year, using it for its plastics extrusion line.
LEE & ASSOCIATES ARRANGES SALE OF TWO SHIPPING CENTERS IN ARIZONA FOR $16.4M
ReBusiness Online | Nov 16, 2015 | Nellie Day
Properties include 51st & Olive Square, an 88,225-square-foot shopping center located in Glendale; and Playa Del Norte, an 11,499-square-foot shopping center located in Tempe.
LEE & ASSOCIATES ARRANGES SALE OF TWO ARIZONA SHOPPING CENTERS FOR A COMBINED $16.4 MILLION
Shopping Center Business | Nov 12, 2015
Glendale and Tempe, Arizona — Lee & Associates has arranged the sale of two Arizona shopping centers for a combined $16.4 million.
LEE & ASSOCIATED LANDS THE HOME DEPOT IN 12 YEAR BACK OFFICE LEASE DEAL
Commercial Executive Magazine | May 21, 2015
Lee & Associates Arizona is proud to announce the signing of a 12-year, 111,349 SF lease with The Home Depot USA, Inc. of Atlanta, GA. The back office building known as Tempe One is located at 1717 W. 16th St. in Tempe. Move-in for the online call center is scheduled for Q4 of this year.
SAN DIEGO INVESTOR BUYS MESA BUSINESS PARK
AZ Central | Oct 13, 2014 | John McLean
Hampton/Mesa LLC sold Superstition Springs Business Park at 7307 and 7427 E. Hampton Ave. in Mesa to Allred Hampton DE LLC of San Diego for $13.985 million.
LEE & ASSOCIATES BRING BOTH SIDES TO $5.2M PHOENIX INDUSTRIAL DEAL
Real Estate Daily News | Oct 8, 2014 | Karen Schutte
A 66,429-square-foot industrial warehouse at 4346 E. Elwood Street in Phoenix has sold for $5,198,069 ($78.25 PSF). The entire site is comprised of 4.68 acres and includes two fenced yards that total .45 acres. The building was 92 percent leased at the time of sale.
Real Estate Rama | Sept 20, 2011
Lee & Associates Arizona is pleased to announce the closing of two REO industrial property sales in the East Valley. The vacant 30,552-square foot warehouse building at 150 South Dobson Road in Mesa sold for $735,000, or $24 per square foot.
