Urban Outfitters to Lease Phoenix-Area Industrial Space
The property will serve the brand’s stores in the area.
An Urban Outfitters store in New York. Photo by Chinmay Wyawahare via Unsplash
Urban Outfitters is set to occupy the majority of a 190,000-square-foot industrial building in the Phoenix area to serve its retail outposts in the metro.
The Philadelphia-based clothing brand will lease approximately 130,000 square feet at 4290 E. Warner Road, the largest of four recently constructed buildings comprising the Warner Commons industrial park in Gilbert, Ariz., according to leasing broker Lee & Associates.
Warner Commons is owned by Petsas Commercial, according to CommercialEdge data. Urban Outfitters is anticipated to occupy Building A which features 32-foot clear heights, loading doors and 321 parking spaces.
Colliers International advised Urban Outfitters on the deal. Representatives of Urban Outfitters and Colliers International did not immediately respond to inquiries.
The Phoenix metro is a national leader for the industrial sector, with 54.1 million square feet of industrial space under construction as of February, according to a CommercialEdge report. The city’s government recently greenlit infrastructure cost reimbursements totaling $20 million for a pair of developers, Vancouver, Wash.-based IDM Cos. and Dallas-based Leon Capital Group, planning industrial developments in the city.
Along with new building activity, the area has seen sales volume as well. CRG recently sold The Cubes at Glendale’s Building E, a 570,080-square-foot speculative industrial facility in the Phoenix suburb of Glendale, to Fundrise in a $82.6 million deal.
Also in nearby news, MIG Real Estate recently sold the fully occupied Gateway Technology Commerce Center, a Class A industrial park totaling 138,692 square feet in Mesa, to Libitzky Property Co. for $25.4 million.
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