Home Improvement Company Signs Long-Term Lease for 117,000-Square-Foot Distribution Center
Trammell Crow Company (TCC) and its partner, Principal Real Estate Investors, announce the completion of Gilbert Gateway Commerce Center, a 416,575-square-foot three-building Class A industrial development in Gilbert, Arizona. A national home improvement company has signed a lease to occupy 116,934 square feet in Building 3, which is located at 4465 East Nunneley Road. The company, which will utilize the space as a distribution and fulfillment center, plans to move to the new facility in early 2021.
“Construction at Gilbert Gateway was completed at the end of the summer and tenant interest has been stronger than we originally anticipated,” said Ryan Norris, a vice president with TCC Phoenix. “The development is fulfilling a growing demand for high-end logistics space in this particular area of the Southeast Valley. The buildings that remain available offer highly functional and flexible configurations that we believe are ideal for a number of ecommerce and distribution-type tenants.”
Gilbert Gateway is located on a 28-acre site in the Southeast Valley. Building 1 is comprised of 123,283 square feet and features 28’ clear height, 31 truck wells and 10 grade-level loading doors. Building 2 features 138,970 square feet with 32’ clear height, 36 truck wells and six grade-level loading doors. Building 3, which the home improvement company will occupy a portion of, includes 152,719 square feet with 32’ clear height, 36 truck wells and six grade-level loading doors. Each of the buildings is equipped with ESFR fire sprinklers.
“We are thrilled to announce our first lease signed within Gilbert Gateway Commerce Park. Trammell Crow Company and Principal delivered a best-in-class industrial commerce park with great exposure and immediate freeway access at Loop 202 & Power Road,” said Evan Koplan of CBRE who, along with Serena Wedlich, represented the owners in the transaction. “Gilbert Gateway Commerce Park satisfied every aspect of the home improvement company’s distribution requirement. While industrial growth surges in the desirable Southeast Valley, we continue to see strong activity as we provide unmatched flexibility for users in the marketplace across various size ranges.”
Gilbert Gateway affords tenants with immediate access to a full diamond interchange at Loop 202 and Power Road and is a two-minute drive to Gilbert Gateway Towne Center, which features more than 800,000 square feet of retail amenities and services.
Steve Larsen, Bill Honsaker and John Lydon of JLL represented the tenant in the transaction.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue).
