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MDC Completes Lease Deal for 81,000 sq. ft. Industrial Building in Phoenix, AZ
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MDC Realty Advisors is pleased to announce the successful completion of a lease transaction with Quality Lease and Development in an 81,000 sq. ft. industrial building located at 5150-48th Street in Phoenix, AZ. This property was acquired by MDC in October 2022 on behalf of private clients.
At the time the property was acquired, the building was leased to a single tenant on an expiring lease at below market rents. MDC was successful in re-leasing the entire building to Quality Lease and Development at market rents with minimal downtime following the lease expiry of the previous tenant. We are excited to welcome our new tenant to our growing US portfolio.
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