Kentwood 303 – Constructing A. Picture courtesy of MDH Companions
MDH Companions has secured a 143,520-square-foot lease settlement with Jacuzzi Group at Kentwood 303, a two-building industrial park in Glendale, Ariz. A subsidiary of the worldwide producer and distributor of luxurious bathtub, spa and hydrotherapy merchandise will absolutely occupy the property’s Constructing A. JLL negotiated on behalf of the owner.
With this new Glendale facility, Jacuzzi Tub Transform will double its manufacturing and distribution capacities. The placement will serve the model’s retail shops throughout the Western U.S.
A completely leased industrial campus
MDH bought Kentwood 303 in April for $42 million, in response to Maricopa County information. Accomplished in 2021, the 271,400-square-foot industrial park occupies a 23-acre website at 6051 and 6075 N. Cotton Lane. Each buildings have 28-foot clear heights, ESFR sprinkler methods and a complete of 504 parking spots, CommercialEdge knowledge reveals.
JLL Managing Director Curtis Ellmore and Senior Affiliate Hagen Hyatt represented the owner. Jacuzzi’s dedication introduced the property to full occupancy, because the 128,576-square-foot Constructing B was already absolutely leased by two different tenants.
Located 17 miles from downtown Glendale and 26 miles from downtown Phoenix, the campus is simply west of Loop 303 and 4 miles north of Interstate 10. The placement can be lower than 2 miles from a 600,000-square-foot industrial mission that MDH is growing in Goodyear, Ariz., and lately obtained a $650 million in development financing, in response to a Business Property Govt roundup of commercial and workplace offers.
Phoenix’s booming industrial market
In keeping with a current CommercialEdge report, industrial rents grew 7.1 % over the past 12 months in Higher Phoenix, whereas the emptiness charge clocked in at 3.3 %. The metro’s underway tasks totaled 55 million sq. ft as of December, the second largest provide pipeline within the U.S., after Dallas.
MDH Companions’ Phoenix footprint encompasses greater than 1.3 million sq. ft. The agency lately expanded its portfolio into new markets together with California, Minnesota, Maryland, Indiana, Illinois and Pennsylvania, presently proudly owning greater than 85 property throughout 20 states.
