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November 17, 2018
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Keter Plastic Leases 323k sf of AZ Industrial Space

10/22/18

Keter Plastic, a manufacturer and marketer of resin-based household and garden consumer products, signed two leases for a total of 323.4k sf at Fiesta Tech Center in the Greater Phoenix area.

Keter Plastics leased 1300 N. Fiesta Blvd for its manufacturing building and 1343 N. Colorado Street for its warehouse. Constructed in 1997, 1300 N. Fiesta Blvd is 243k sf and features all infrastructure for a plug-and-play plastic injection molding operation, 10 dock-high loading doors and eight at grade-level, along with ample parking. In addition, Keter will be performing a $6 mil renovation to the building to add additional injection molding equipment. Totaling 120.7k sf and built in 2016, 1343 N. Colorado Street offers ESFR sprinklers, 32 dock-high loading doors and 30 clear height.

Pete Klees and James Harper of Cushman & Wakefield Phoenix represented Keter Plastics in the deal. Los-Angeles based Fiesta Venture L.P. is the property owner. Keter is an Israeli company with 29 locations in Israel, Europe, Canada and the U.S.

Located in the Gilbert submarket, one of the fastest growing municipalities in the U.S., the two buildings are centrally located near two major freeways the US 60 and Loop 202. The Metro Phoenix industrial market absorbed 2.6 msf in the second quarter of 2018. The Gilbert/Gateway submarket showed the most positive absorption with an occupancy growth of 585k sf for the quarter, according to Cushman & Wakefield research.






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