Phoenix Sustainability Firm Signs 131,796 Full-Building Lease
Trammell Crow Company (TCC) and partner Artis REIT announce that Footprint LLC (Footprint), a sustainable technology firm, has signed a long-term, full building lease to occupy Park Lucero Phase II, a Class A, speculative industrial building comprised of 131,796 square feet.
As one of the fastest growing molded fiber companies in North America, Footprint will be relocating from their current facility in Gilbert, AZ to Phase II of Park Lucero. Operations out of this new facility will include the manufacturing of eco-friendly, fiber based products. Footprint chose this location due to its proximity to a strong employment base and the community’s pro-business environment.
Park Lucero is a 4-phase, Class A industrial park featuring a combination of buildings with dock-high, truck well and grade-level loading, 24-to-30-foot ceiling clear heights and an overall 2.1:1,000 parking ratio. Each building is designed to maximize operational and economic efficiency for a wide range of occupants. Upon full buildout, Park Lucero will consist of nearly 600,000 square feet of industrial space in six buildings.
“The work that Footprint is doing coupled with the benefit to our environment is truly amazing and we are pleased that they can continue their great work out of this state-of-the-art facility”, said Cathy Thuringer
, Principal with TCC’s Phoenix Business Unit
. “We are pleased to welcome them to the Park.”
Phase II is situated adjacent to Phase 1 (completed in 2015) and Phase 3 (completed in summer of 2017), and fronts along the Santan Freeway (Loop 202) providing significant freeway visibility. The Park is located on 48 acres at the northwest corner of Mustang Drive and Germann Road near the Gilbert/Chandler border.
Philip Martens and Patrick Devine served as the dealmakers for Artis REIT in the transaction. The team of Pat Harlan and Steve Sayre of JLL represented the ownership in the transaction and Paul Gallo with First US Advisors represented Footprint. Western Alliance Bank served as the lender.
About Footprint LLC
Footprint, headquartered in Gilbert, AZ, is a sustainable technology firm focused on reducing or eliminating plastics through the development and manufacturing of revolutionary technologies. Our innovative holistic approach to raw material sourcing, manufacturing and process improvement allows Footprint to manufacture environmentally friendly packaging solutions that cost less. Initially focusing on bio-based reinforced plastics and the design, development and implementation of next generation manufacturing for fiber based packaging; Footprint is enabling manufacturing to return to North America by providing cost competitive packaging solutions to fortune 500 companies.
About Artis REIT
Artis REIT (TSX: AX.UN) is one of the largest diversified commercial real estate investment trusts in Canada and is an unincorporated closed-end real estate investment trust primarily focused on creating value for unitholders through the investment in and ownership of quality commercial properties in select markets. Artis REIT’s portfolio consists of industrial, retail and office properties in Canada and the United States.
Artis REIT’s management team has over 200 years of collective experience in construction, development, and management of commercial and other properties in Canada and the United States. The management team at Artis REIT has implemented a prudent investment strategy, which includes stringent acquisition criteria, a conservative financing approach, and the development of excellent deal flow in its target markets. Artis REIT is fully-internalized and operates its own asset management and property management functions. These functions are responsible for the day-to-day management of the REIT’s portfolio as well as administrative services. For more information, visit www.artisreit.com.
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 more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of September 30, 2017, TCC had $5.9 billion of projects in process and $5.4 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. 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 its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC 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 2016 revenue). For more information visit www.TrammellCrow.com.