2075 W. Obispo Ave., in Gilbert, Arizona

     PHOENIX, ARIZONA (May 16, 2018) – NAI Horizon Senior Vice President Jeff Adams represented the tenant in negotiating a long-term lease for a Gilbert-based distribution company at 2075 W. Obispo Ave., in Gilbert, Arizona.

NAI Horizon represented AES Direct Express, LLC, an Arizona limited liability company in the industrial lease worth $1.676 million. AES, an administrative, distribution, pick and ship, and logistics firm, will occupy 40,415 square feet of the building, which totals 110,975 SF.

“Working together in conjunction with the listing agent, we were able to identify and procure a unique potential growth opportunity in this present high-tenant demand market,” Adams said. “It afforded my client the ability to nearly double its space capacity while also providing a no-downtime, solid long-term lease solution for the landlord.”

The building is an attractive, two-user property with Papa John’s distribution occupying the balance of the space.

The landlord, LIT Industrial Limited Partnership (a Clarion company) of Dallas, Texas, was represented by Steve Sayre and Steve Larsen of JLL.