Rosendin Electric Gets Lease Zap at Power 202 Business Park
Power 202 Business Park is a new 330,000-square-foot class-A industrial park located at 4617 S. Power Rd. in Mesa with visibility along the Loop 202. It is situated northwest of the Phoenix-Mesa Gateway Airport in the Southeast Valley and within an Opportunity Zone.
Rosendin Electric Inc. recently committed to a 146,000-square-foot industrial lease at the business park. The space will serve as a prefabrication facility and offer proximity to a nearby job site.
CBRE’s Mike Parker represented Rosendin in the lease negotiations. The landlord, Phoenix-based Bird Dog Industrial, was represented by Lee & Associates’ Ken McQueen and Chris McClurg.
“Rosendin had a compressed timeframe to secure a minimum of 120,000 square feet of space in the high-demand Southeast Valley to service a data center project nearby,” said Parker. “After exploring numerous options in the area, we learned Power 202 would deliver in time to meet my client’s needs. As a result of numerous previous negotiations with Rosendin over the past 18 years, we were able to structure a lease deal that traditionally can take months to negotiate in just 48 hours.”
The Southeast Valley posted the second-strongest gains in net absorption totaling 1.08 million square feet at the close of the first quarter, according to CBRE research. Vacancy in the submarket sits at 4.7 percent, below metro Phoenix’s overall vacancy of 5.6 percent.
San Jose-based Rosendin is the largest employee-owned electrical contractor in the country.