Colliers International represents MiTek in expanding Arizona presence
The company renewed its lease for 259,200 square feet at 7890 W. Lincoln Street for a term of eight-plus years. MiTek is expanding its presence in the Valley with a new 10-year lease of 153,721 square feet at 7506 W. Lincoln Street. The two Class A facilities are both located within Tolleson Corporate Park and owned by California State Teachers’ Retirement System (CalSTRS).
“We have enjoyed a great 27-year relationship with MiTek,” says Payson MacWilliam, executive vice president with Colliers International in Arizona. “MiTek and I began working together when the company was in a simple metal building on West Buckeye Road. Since that time, we have completed five different transactions, growing the company’s Phoenix footprint from 24,000 square feet to more than 400,000 square feet.”
MiTek will be relocating some out-of-state operations to the 7506 W. Lincoln Street building. The company takes occupancy of the 153,721 square feet on November 1, 2020.
Payson MacWilliam, Don MacWilliam and Chris Reese of Colliers in Arizona worked with Kevin Gallagher of the Colliers in St. Louis office, representing MiTek in both lease negotiations. John Werstler, Cooper Fratt and Pat Feeney of CBRE represented the landlord in the lease at 7506 W. Lincoln Street.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.
Colliers International in Arizona has served clients locally and globally for more than 40 years.
MiTek is a diversified global supplier of software, engineered products, services, and automation to the residential and commercial construction sectors. MiTek Industries' passion for its associates' well-being and its customers' success is the company's hallmark. A Berkshire Hathaway company (NYSE: BRK-A, NYSE: BRK-B) since 2001, MiTek has operations in more than 40 countries on six continents. Learn more: www.MiTek-us.com and www.MII.com.