PHOENIX, ARIZONA (Feb. 22, 2024) – The leading manufacturer of furniture for offices, hospitals, and classrooms is developing its footprint in the West Valley by taking 211,360 SF at C|303, an industrial development under construction at 5101 N. Cotton Lane in Glendale, Arizona.
Executive Managing Director Isy Sonabend and Senior Associate Drew Eisen with NAI Horizon and Arie Salomon with NAI P-S-P in Seattle, Washington, represented Steelcase Inc. of Grand Rapids, Michigan, in a long-term lease valued at $10.8 million. Upon completion of construction, the building that Steelcase will occupy – Building A – will total 375,000 SF.
Phoenix-based Merit Partners, First Industrial Realty Trust, and Diamond Realty Investments broke ground on 2022 on Phase One of C|303, a Class A industrial logistics park in the West Valley’s Loop 303 industrial corridor. At build-out, the project will occupy one full mile of Loop 303 frontage.
“Following an extensive site selection process, the occupancy of Steelcase Inc. in the West Valley provides this iconic American furniture manufacturer with a strategic location to distribute its product lines in the Southwest,” Sonabend said. “This tenancy represents another expression of Phoenix’s capability to attract world-class organizations to dynamic Arizona.”
Phase One spans almost 113 acres and more than 1.75 MSF feet at the NWC of Loop 303 and Camelback Road. Phase One includes three buildings: Building A, 375,000 SF; Building B, 420,536 SF; and Building C, 958,847 SF.
C|303 is 30 minutes from Phoenix Sky Harbor International Airport and less than a four-hour drive from Southern California’s Inland Empire, providing proximity to the ports of Los Angeles and Long Beach. The site is Foreign Trade Zone capable, sitting within a hub of corporate users including Best Buy, Dick’s Sporting Goods, Mlily, REI, Sub-Zero, UPS, White Claw, Williams Sonoma, and XPO Logistics.
The landlord, First Industrial Trust c/o Merit Partners, LLC, was represented by Riley Gilbert with JLL.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices in Phoenix and Tucson. NAI Horizon is passionate about commercial real estate, providing Brokerage and Property Management Services for local, national, and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 325 offices worldwide. For more information, visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales, and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 325 offices strategically located in 65 countries throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 5,800 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.
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