CBRE Arranges Sale of Gilbert, Arizona Flex Building
02 Jan 2020
Phoenix – CBRE has arranged the sale of a 55,392-square-foot flex industrial/office building in Gilbert, Arizona to the Martinsburg, Pennsylvania-based Curry Supply Company. Curry Supply acquired the property from Silent-Aire of Edmonton, Alberta, Canada.
Rusty Kennedy, Pat Feeney, Dan Calihan and James Cohn of CBRE in Phoenix represented the seller, Silent-Aire, a global manufacturer of HVAC equipment and modular data centers, in the transaction. The company, which has owned the property since 2013, relocated to a nearby facility to accommodate its rapidly growing operations.
Curry Supply, a manufacturer and dealer of commercial service vehicles, chose Gilbert and the Silent-Aire property due to its proximity to clients and availability of a skilled workforce. “We are a family owned company whose successes are built on hard work, great customer service, and industry leading quality products. We are excited to become part of the Gilbert, Arizona, community, where we are confident the local workforce will take an active role in our continued growth by embodying those very principles. This move will support our strong growth nationally, by allowing us to better serve our expanding base of west coast customers.” – Jason M. Ritchey, President and Owner of Curry Supply Company
With the expansion, Curry Supply will bring a significant investment and new manufacturing jobs to the Gilbert, AZ community.
“Gilbert is excited to welcome Curry Supply Company to our community,” said Mayor Jenn Daniels. “Gilbert provides a skilled labor pool, strong regional infrastructure, and collaborative resources that will greatly benefit the company. We look forward to supporting them as they grow and positively impact the community.”
New ownership will occupy the property, which will serve as its fifth U.S. location and first Arizona location.
“Curry Supply's expansion to the market highlights the opportunity that Greater Phoenix presents to a company seeking southwest operations,” said Chris Camacho, president and CEO, Greater Phoenix Economic Council. “We’re excited about their investment in the region and welcome them to our robust manufacturing ecosystem."
Situated on 3.16 acres at 1145 W. Gary Road, the property offers nearby access to the U.S. 60 and the Loops 101 and 202, which provides connectivity to the greater Phoenix metro.
The two-story building features 10,000 square feet of office space that includes offices, conference rooms, open bullpen areas, breakrooms, restrooms and a dedicated server room. The remaining industrial space features an evaporative cooled warehouse with LED lighting throughout, 24-foot clear ceiling heights, five grade-level doors, two truck wells and existing five-ton and one-ton cranes. The property also has 72 parking spaces.
According to a recent report from CBRE, the Phoenix industrial market’s momentum was solidified by nearly 4 million square feet of positive net absorption in the third quarter of 2019, its 38th consecutive quarter of gains and the second-highest quarterly total since Q4 2013.
“Curry Supply is another great example of a manufacturing company realizing all of the benefits that Arizona has to offer and moving here to take advantage of those benefits,” said CBRE’s Kennedy. “We have been fortunate to work alongside Silent Aire over the past seven years and we look forward to great things ahead for them and Curry Supply in Gilbert.”
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.