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3/29/24
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Portmantos Inc signed a five-year, $2.56 mil lease for 40k sf ($1.07/sf/mo) of industrial space in Tempe, AZ. The deal is within a multi-tenant, Class A logistics property located at 1120 West Fairmont St.
The property is within the Airport District near Tempe and is centrally located to downtown Phoenix, as well as the Phoenix sub-markets of Scottsdale, Mesa, Gilbert and Chandler. The area’s major airport Sky Harbor International is minutes from the logistics facility. The warehouse has a clear height of 27 feet with 12 drive-up loading docks and 47 surface parking spots.
Dan Casey with DAUM Commercial Real Estate Services represented Portmantos Inc, a Metuchen, N.J. based online luggage and travel accessory company. EastGroup, the landlord, was repped by Ross Brown Partners.
"Tempe is the perfect place for a growing firm to expand its distribution operations. The city itself is growing, the latest census in 2020 recorded over 11% population growth. With Arizona State University located in town, Tempe has access to a highly educated workforce as well. For a growing online brand like Portmantos, setting up a warehouse and distribution center in Tempe is a strategic decision that bets on the ongoing growth of the Tempe and the Phoenix-area generally, as well as its proximity to other West Coast destinations, including Los Angeles, San Diego, and Las Vegas,” said Dan Casey, Associate Vice President in DAUM Commercial’s Phoenix office.
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