Article Originally Posted by PhoenixBusinessJournal on April 28, 2023
Urban Outfitters has found industrial space in the East Valley to serve its retail stores.
The Philadelphia-based company will move into a newly built, 190,000-square-foot building at Warner Commons in Gilbert. It will occupy about 130,000 square feet, said Stein Koss, a principal at Lee & Associates Arizona. Koss is one of the listing brokers for Warner Commons along with Tom Louer and Fenton Kelly.
Colliers International represented Urban Outfitters (Nasdaq: URBN) in the deal. Koss expects Urban Outfitters to be operational in the next six to eight months at Warner Commons, utilizing its space to distribute its furniture line more than clothing, he said.
The landlord of Warner Commons is a partnership between Scottsdale-based Pestas Commercial and Texas-based Hillwood Investment Properties, Koss said.
Koss said other tenants committed to Warner Commons include Salt River Project, Fat Fender Garage and Vivid Medical Technologies. With Urban Outfitters on board, Koss estimates that the park is more than 60% leased.
"We have a couple of other deals pending," he said.
The complex is comprised of four recently built buildings that carry addresses of 4160, 4230, 4320 and 4290 E. Warner Road in Gilbert and total nearly 390,000 square feet. Urban Outfitters will head to 4290 E. Warner Road, which is the largest building in the complex.