Tuesday, May 16, 2023 / by Juan Grimaldo
Third-party logistics company signs big lease in West Valley
South Korea-based CJ Logistics has signed a lease for a new industrial building in the Phoenix metro.
The global third-party logistics firm will occupy 331,683 square feet at the Commerce @ 303 in Glendale and use the facility to distribute products for a Fortune 100 company, according to the developer of the facility, California-based SteelWave LLC.
"We designed a state-of-the-art class A industrial building with 40-foot clear heights meant for a tenant like CJ Logistics, who will be distributing well-known consumer products throughout the Southwest," said Gregg Hall, managing director of acquisitions for SteelWave.
Andy Markham, a vice chairman with Cushman & Wakefield, said the company was considering several buildings but decided this was the best option and that Commerce @ 303 had several offers and letters of intent before CJ Logistics was secured. Markham, Mike Haenel, Phil Haenel, Brandon Borsheim, Foster Bundy, Kristin Schwartz and Katie Repine, all of Cushman & Wakefield represented the landlord in the lease.
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By Audrey Jensen - Reporter, Phoenix Business Journal