CORFAC News

16 Jan2014

Commercial Properties Incorporated/CORFAC Secures Leases for Mark IV Capital Properties, Inc.

Contact:Sarge Glenn – 480.214.1126 or sglenn@cpiaz.comJohn Hart – 480.966.4373 or jhart@cpiaz.comChandler, AZ (January 16, 2014) – Commercial Properties Incorporated/CORFAC International, Tempe, recently brokered six leases totaling almost 36,000 square feet at Red Rock Business Plaza in the Chandler Airpark. Black Diamond Advanced Technology, a division of Roper Industries, took 24,196 square feet of flex industrial shell space. Chris McClurg with Lee & Associates and Eric Ramer with ICON Commercial Interests out of Atlanta represented the Tenant. The built to suit space will be delivered to Black Diamond in “turn key” condition by Mark IV Capital in early 2014.

Black Diamond valued the high building standards of Red Rock Business Plaza as well as the great San Tan Freeway Corridor location as deciding factors. Other lease transactions with Generations Physical Therapy, Express Interlock, BBJ Rentals, Aptech Systems, and HSP Corporate Arizona have brought the occupancy rate at Red Rock up to over 75%. Red Rock Business Plaza, part of the Mark IV Capital portfolio, was built in 2008 and is comprised of three, single-story buildings, totaling 134,478 RSF of office/showroom/warehouse space just south of the San Tan Loop 202 and east of Crossroads Towne Center on Gilbert Road.

Sarge Glenn and John Hart, with Commercial Properties Incorporated, represented the Landlord, Mark IV Capital. Mike Gilbert and Justin LeMaster with Cassidy Turley represented Express Interlock. Tricia Gumulka with Newmark Grubb Knight Frank represented BBJ Rentals. Josh Wyss with Cassidy Turley represented Aptech Systems, and Russell Gould with StoneCrest Properties represented HSP Corporate Arizona.About Mark IV Capital, Inc.Mark IV Capital, Inc. is a privately held real estate firm founded in 1974. The company acquires, invests in, develops and manages commercial projects utilizing a long-term approach to deploy capital in markets where existing drivers will propel future value. Headquartered in Newport Beach, Calif., with offices in Arizona, Nevada and Northern California as well, Mark IV Capital’s vision is to be a world class provider of working environments for businesses. For additional information, please visit www.MarkIV.com or call 480-722-9145.About Commercial Properties Inc./CORFAC InternationalCPI is a CORFAC International affiliate, full-service Brokerage and Property Management firm for all product types. Headquartered in Tempe, the company has more than 50 brokers and occupies two offices locally. Currently, CPI's listings include more than 55.5 million square feet for sale/lease, and 130 projects under property management, totaling approximately 4.5 million square feet. Please visit our web site at www.cpiaz.com.

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Patricia True Agos
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