Jacuzzi Group Fully Leases Phoenix Facility

Kentwood 303 – Building A. Image courtesy of MDH Partners

MDH Partners has secured a 143,520-square-foot lease agreement with Jacuzzi Group at Kentwood 303, a two-building industrial park in Glendale, Ariz. A subsidiary of the global manufacturer and distributor of luxury bath, spa and hydrotherapy products will fully occupy the property’s Building A. JLL negotiated on behalf of the landlord.

With this new Glendale facility, Jacuzzi Bath Remodel will double its manufacturing and distribution capacities. The location will serve the brand’s retail stores across the Western U.S.

A fully leased industrial campus

MDH purchased Kentwood 303 in April for $42 million, according to Maricopa County records. Completed in 2021, the 271,400-square-foot industrial park occupies a 23-acre site at 6051 and 6075 N. Cotton Lane. Both buildings have 28-foot clear heights, ESFR sprinkler systems and a total of 504 parking spots, CommercialEdge data shows.

JLL Managing Director Curtis Ellmore and Senior Associate Hagen Hyatt represented the landlord. Jacuzzi’s commitment brought the property to full occupancy, as the 128,576-square-foot Building B was already fully leased by two other tenants.

Situated 17 miles from downtown Glendale and 26 miles from downtown Phoenix, the campus is just west of Loop 303 and 4 miles north of Interstate 10. The location is also less than 2 miles from a 600,000-square-foot industrial project that MDH is developing in Goodyear, Ariz., and recently received a $650 million in construction financing, according to a Commercial Property Executive roundup of industrial and office deals.

Phoenix’s booming industrial market

According to a recent CommercialEdge report, industrial rents grew 7.1 percent over the last 12 months in Greater Phoenix, while the vacancy rate clocked in at 3.3 percent. The metro’s underway projects totaled 55 million square feet as of December, the second largest supply pipeline in the U.S., after Dallas.

MDH Partners’ Phoenix footprint encompasses more than 1.3 million square feet. The firm recently expanded its portfolio into new markets including California, Minnesota, Maryland, Indiana, Illinois and Pennsylvania, currently owning more than 85 assets across 20 states.