Conn Appliances Inc Signs Lease at Coldwater Depot Logistics Center
Conn Appliances, Inc., a division of Conn’s, Inc. (NYSE: CONN) has signed a 10-year, 277,649 square foot lease in Phase I of Coldwater Depot Logistics Center, an industrial development in Avondale, AZ.
May 6, 2013
Warehouse Will Serve As Retailer’s First Distribution Facility in Arizona
PHOENIX, AZ – Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers and investors, and Clarion Partners, a leading U.S. real estate investment manager, announces that Conn Appliances, Inc., a division of Conn’s, Inc. (NYSE: CONN) has signed a 10-year, 277,649 square foot lease in Phase I of Coldwater Depot Logistics Center, an industrial development in Avondale, AZ.
“We are pleased to welcome Conn’s to Coldwater Depot Logistics Center, and we are confident this facility will provide them with the environment they need to serve existing and new customers throughout the Phoenix area,” said Jim Mahoney, Senior Managing Director with Trammell Crow Company’s Phoenix Business Unit. "The growth and expansion of such a large electronics retailer will bring jobs and a renewed confidence in the Phoenix job and retail market.”
Headquartered in Beaumont, TX, Conn’s, a specialty retailer of home appliances, furniture, mattresses and consumer electronics, currently operates in 68 locations in Texas, Louisiana, Oklahoma, New Mexico and Arizona. The new distribution center will serve seven new Conn’s retail locations throughout the greater Phoenix region and employ 80 to 120 workers.
“This has been a true partnership between the City of Avondale and Trammell Crow Company for the past three years,” said Dan Davis, Economic Development Director for the City of Avondale. “Everyone involved has shown an unwavering commitment to the success of the project. The capital investment, construction jobs created during the building of the facility, and the new jobs that Conn’s brings to the area will add to the growing and sustainable economy in Avondale.”
Coldwater Depot Logistics Center is a fully zoned and entitled 66-acre master-planned industrial park located along Interstate 10 at 127th Avenue in the heart of the Southwest Phoenix industrial market. The park is planned for 1.2 million square feet of cross-dock distribution warehouse space upon full build-out. Phase 1, currently nearing completion, is comprised of approximately 604,000 square feet of space. The facility has access to local, regional and national markets via an integrated network of interstate and intrastate freeways and is pursuing Foreign Trade Zone designation.
Rusty Kennedy and Pat Feeney with CBRE’s Phoenix office represented ownership in the transaction. Matthew Keener and Brian Ashby of CBRE’s Houston office and Dan Calihan of CBRE’s Phoenix office represented the tenant.
About Conn’s, Inc.
Conn's is a specialty retailer currently operating 68 retail locations in Texas, Louisiana, Oklahoma, New Mexico and Arizona. The Company's primary product categories include:
Home appliance, including refrigerators, freezers, washers, dryers, dishwashers and ranges;
Furniture and mattress, including furniture and related accessories for the living room, dining room and bedroom as well as both traditional and specialty mattresses;
Consumer electronic, including LCD, LED, 3-D and plasma televisions, Blu-ray players, home theater and video game products, camcorders, digital cameras, and portable audio equipment; and
Home office, including computers, tablets, printers and accessories.
Additionally, the Company offers a variety of products on a seasonal basis, including lawn and garden equipment, room air conditioners and outdoor furniture. Unlike many of its competitors, the Company provides flexible in-house credit options for its customers, in addition to third-party financing programs and third-party rent-to-own payment plans.
About Clarion Partners
Clarion Partners has been a leading U.S. real estate investment manager for almost 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S. as well as a presence in Mexico and Brazil. With more than $24 billion in total assets under management, for over 200 institutional investors both domestic and international, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum.
More information about the firm is available at www.clarionpartners.com
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of March 31, 2013, Trammell Crow Company had over $4.3 billion of projects in process and $1.9 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 15 major cities throughout the United States. The company serves users of and investors in, office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company offers large strategic joint ventures, opportunity funds, and other targeted investment options.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), 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 2012 revenue). For more information visit www.TrammellCrow.com.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.