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News release

PHOENIX, AZ

JLL Completes 200,000 SF Lease with Kuehne + Nagel in Casa Grande

Points to market’s growing promise as inland site opportunity


PHOENIX, May 12, 2014 – The Phoenix office of JLL has completed a 201,666-square-foot, five-year warehouse/distribution lease with global logistics company Kuehne + Nagel, Inc. in Casa Grande. The lease establishes Kuehne & Nagel’s presence in the Central Arizona market—a growing site selection consideration for industrial distribution and logistics users in the Western United States.

“For the right users, Pinal County definitely offers an alternative to the high costs of Southern California industrial space,” said JLL Executive Vice President Pat Harlan, who represented building owner Clarion Partners along with JLL Executive Vice President Steve Sayre and JLL Associate Kyle Westfall.

According to JLL’s Q1 Industrial Report, warehouse/distribution space in Pinal County has done well in the past 24 months, dropping from 17 percent vacancy in 2012 to 13.1 percent vacancy today. Although absorption has remained flat, market recovery is pushing developers to consider new industrial and warehouse projects in the area.

“Creating an inland port environment in and around Casa Grande—half way between Phoenix and Tucson—would allow companies to move their products from California’s ports directly to a more cost effective, inland location, then on to the rest of the U.S.,” said Harlan.

Kuehne + Nagel’s new space is located at 2592 E. Hanna Rd., approximately five miles southeast of central Casa Grande and directly adjacent to Interstate 10. With approximately 63,000 employees at more than 1,000 locations in over 100 countries, the Kuehne + Nagel Group is one of the world’s leading logistics companies.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management.

In Phoenix, JLL is a market leader employing nearly 500 of the region’s most recognized industry experts offering office, industrial and retail brokerage, tenant representation, facility and investment management, capital markets and development services. In 2013, the Phoenix team completed 10.3 million square feet in lease transactions valued at $512 million, directed $72 million in project management and currently leases and/or manages a 22.8 million-square-foot portfolio. For more news, videos and research resources on Jones Lang LaSalle, please visit www.jll.com or www.jll.com/phoenix.

About Clarion Partners, LLC            
Clarion Partners has been a leading U.S. real estate investment manager for over 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England as well as a presence in Mexico. With $30.0 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. The Firm’s industrial footprint is comprised of more than 99 million square feet across 43 markets across the U.S., Mexico and Brazil. More information about the firm is available at www.clarionpartners.com.