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Cushman & Wakefield Reps Exel in 237,000-Sq.-Ft. Industrial Lease
Accommodating Large Requirements in Phoenix Presents a Challenge
Wilson and Mike Beall, industrial brokerage specialists based in Cushman & Wakefield’s Phoenix office, represented Exel in negotiating the multi-year lease. The commercial real estate services firm maintains a long-standing relationship with Exel. Pat J. Feeney of CBRE served as broker for the landlord, Utah Retirement Systems.
According to Wilson, accommodating Exel’s requirement was a challenge in the tight Phoenix industrial market. “When we began the site search, Exel was looking for 165,000 square feet, but its needs expanded almost immediately,”
Wilson noted that the Phoenix distribution center, which will serve the southwestern United States, is one of five locations being rolled out to serve one of Exel’s customers. The firm provides supply chain solutions to a range of industries, including automotive, consumer, retail, engineering and manufacturing, life sciences and healthcare, technology, energy and chemicals. Exel is a wholly owned entity of Deutsche Post DHL, the world’s leading logistics group.
Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2011, in the U.S. alone, this group completed more than 6,100 industrial real estate transactions – totaling 225 million square feet – with an aggregate value in excess of $6.5 billion.