Tolleson – Communications Test Design Inc. (CTDI) in West Chester, Pa. (Gerald Parsons, CEO) plans to add 200 workers by the time the company is fully operational at a new manufacturing and distribution facility in Tolleson. CTDI, which repairs, installs tests and manufactures telecommunications equipment, has leased 238,450 sq. ft. of a 535,213-square-foot industrial building located at 8602 W. Buckeye Road. That structure, which is within the 1.1 million-square-foot Westside Business Park, is owned by a fund managed by LBA Realty in Irvine, Calif. (Steven Layton, et al., principals). CTDI intends to begin occupying the property by October and hopes to be at full capacity by third quarter 2013. “We are excited to be growing in the Phoenix area,” says Sean Parsons of CTDI
The privately-held telecommunications firm now leases 30,000 sq. ft. at 102 W. Watkins Street in Phoenix. CTDI signed a 8-year lease to occupy the Tolleson property. Sources say the lease has a value of $10 million. The telecommunications company was represented by Tony Lydon and Marc Hertzberg of Jones Lang LaSalle in Phoenix, and David MacKey and John Morrissey of Jackson Cross Partners in King of Prussia, Pa. The building owner was represented by Matt Hobaica and Allen Lowe of Lee & Associates Arizona Inc. in Phoenix. CTDI will use part of the new facility for reconditioning and upgrading the technology in set-top boxes, including converting cable boxes to high definition (HD). There will also be areas dedicated for manufacturing and distribution, and office space for technical and administrative support. Cox Communications is one of CTDI’s biggest customers and a large portion of the equipment and components used for Cox cable TV customers will pass through the Tolleson facility. The space leased by CTDI in Tolleson will make that building fully occupied
In February 2008, BREW reported a fund managed by LBA Realty paying $73 million ($66 per foot) to buy just over 1.1 million sq. ft. of industrial space in the four structures that comprise Westside Business Park. The Lee & Associates agents have the leasing assignment on the property, which is about 76 percent occupied
Evan Bolick, Associate Attorney at Rose Law Group says “This is great news for a still-rebounding economy. First, this transaction is emblematic of a still-growing but steady series of real-estate transactions filling available commercial properties. Clearly, CTDI has great faith in the Phoenix-area marketplace in making its decision to expand operations here. Of course, corporate investment and expansion such as this also breeds new job opportunities, and this project in particular will be a boon for those with high-tech and manufacturing experience. Further, this location is a great value given the lease terms and its close proximity to I-10, which will certainly benefit its distribution operations.”
Learn more from Sean Parsons at (610) 436-5203. Bob Hubbard is the contact for LBA Realty . . . (602) 648-0908. The Lee & Associates agents are at (602) 956-7777. Talk to Lydon and Hertzberg at (602) 840-9333. MacKey and Morrissey are at (610) 265-7785.
