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MLILY signs lease for over 1.25 million square feet of industrial space

International mattress manufacturer occupancy in the Valley nearly 2 MSF

PHOENIX, Jul 29, 2021 – MLILY, the retail brand of Healthcare Arizona LLC, a venture of China-based Healthcare Co., Ltd., signed a lease for 1,253,382 square feet of industrial space at the Glendale 303 “G303” project. The industrial park is situated in Glendale, Arizona, along the booming Loop 303 corridor and being developed by international real estate firm Hines. 

This sizable lease will add to the company’s existing space in the Valley.  During summer 2020, Healthcare Arizona LLC leased 643,798 square feet at First Park @ PV|303 in Goodyear.  "It was a pleasure to once again work with MLILY and our local and international Colliers teams," said Yang Chen, Managing Director, Asia Pacific Division with Colliers in San Francisco. "MLILY stated that their goal is for all products sold in the U.S. market to be made domestically. This target necessitated urgent expansion of their manufacturing capabilities in Phoenix less than a year since their first transaction in the region. We found phenomenal partners in Hines and Oaktree Capital, who were part of our great team in finalizing a deal that bridged language, cultural, and time zone differences."

Healthcare Arizona, LLC leased what was planned as two separate buildings at the G303 project, but will now be constructed as a single structure.  Phase I has been built and the company will take occupancy in December after interior tenant improvements are completed.  The building, located at 6605 N. Sarival Avenue, contains 569,520 square feet of industrial space.  Phase II will involve expanding that structure with an additional 683,862 square feet of space.  Construction of that expansion is expected to commence this week.  The company leased this project for a term exceeding 10 years.

“This lease at the G303 project will bring MLILY’s total commitment in the Valley to nearly 2 million square feet of space,” says Payson MacWilliam with Colliers in Arizona.  “The company was originally attracted to our pro-business community and that appeal has only improved since the company entered the Arizona market last year.  This rapid and substantial expansion is a testament to the company’s growing business throughout the world and our economy here in Greater Phoenix.”

Yang Chen from the Colliers office in San Francisco partnered with Payson MacWilliam, Don MacWilliam and Chris Reese of Colliers in Arizona in representing Healthcare Arizona, LLC in the lease negotiations.  Bill Honsaker and John Lydon with JLL represented Hines, the developer of the project. 

Healthcare Co. Ltd. operates factories in China, Thailand, Serbia and the United States.  U.S. plants are located in South Carolina and Arizona.  The company has produced memory foam items since 2003.  The MLILY brand advocates “Redefining Sleep” and offers products including mattresses, mattress toppers, bases and pillows. By expanding its presence in the Greater Phoenix area, the company is able to provide more high quality products to U.S. consumers at a lower cost, while also expanding its global footprint.

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

Colliers in Arizona has served clients locally and globally for more than 40 years.
 

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Yang Chen

Managing Director, Asia Pacific Division

San Francisco

Yang Chen is the Vice President of Colliers International’s San Francisco Bay Area. Fluent in Chinese and English, Yang and her team leverage Colliers' prominent position in the commercial real estate market by drawing on the company’s wealth of experience in 67 countries.

Yang’s focus at Collier’s International is supporting Chinese developers and investors in establishing and expanding their footprints in the U.S. Yang advocates for her clients and helps them build valuable relationships in the local community by sharing a vast amount of industry connections that cover the full life cycle of commercial real estate development. 

Through combining the objectives, investment criteria, exiting strategy and approval process of each client, Yang and her team create custom strategies for each project that allow overseas clients to be just as effective as those who have operated locally for many generations.

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Payson MacWilliam

Executive Vice President

Phoenix

Payson has been in commercial real estate since 1986, specializing in industrial sales and leasing in the Southwest Valley distribution market. Services include tenant representation and agency listings from many major developers, such as Merit Partners, ProLogis, EastGroup Properties, First Industrial Realty Trust, Sun State Builders, Exeter Properties, Sun Life Assurance, Majestic Development, City of Tolleson and CapRock Partners.

As an executive vice president with Colliers in Arizona, Payson partners with Don MacWillliam and Chris Reese. Their top-producing industrial team provides exceptional service and strategic solutions to its clients, representing both landlords and tenants.

Their diverse base of knowledge and expertise leads to successful and tailored real estate solutions. Payson and Don pride themselves on building relationships that continue far beyond a single successful transaction.

During the past decade, they have added more than 6 million square feet of user build-to-suits and more than 5 million square feet of speculative development product to the Southwest Valley distribution market. The team has also increased the total distribution base by almost 10 percent in the past 10 years.

Payson has been a member of the Boys Team Charity since 2004, and is a lifetime member of the Brophy Dad’s Club. He also supports these charitable organizations: Andre House, St. Mary's Food Bank and Feed the Homeless Foundation.

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Don MacWilliam

Executive Vice President

Phoenix

Don MacWilliam has been a commercial real estate professional since 1986, specializing in industrial real estate sales and leasing in the Southwest Valley distribution market throughout his career.

Services include tenant representation and agency listings from many major developers, such as Merit Partners, ProLogis, EastGroup Properties, First Industrial Realty Trust, Sun State Builders, Exeter Properties, Sun Life Assurance, Majestic Development and CapRock Partners.

As an executive vice president with Colliers in Arizona, Don partners with Payson MacWillliam and Chris Reese. Their top-producing industrial team provides exceptional service and strategic solutions to its clients, representing both landlords and tenants.

Their diverse base of knowledge and expertise leads to successful and tailored real estate solutions. Don and Payson pride themselves on building relationships that continue far beyond a single successful transaction.

During the past decade, they have added more than 6 million square feet of user build-to-suits and more than 5 million square feet of speculative development product to the Southwest Valley distribution market. The team has also increased the total distribution base by almost 10 percent in the past 10 years.

Don is actively involved in his community and has focused his passion for baseball and his desire to give back in a specific way, spending a great deal of time raising funds to renovate the baseball field at a local high school.  He is actively involved with these organizations: Luke Air Force Base, Arcadia High School Dad's Club, Juvenile Diabetes Research Foundation, Andre House, St. Vincent de Paul, Westside Food Bank and Nourishing Phoenix, Inc.

In 2018, Don was named an Honorary Commander at Luke Air Force Base, with the 420 airmen and women of the 756th Maintenance Unit. He has been involved with many charities over the years but nothing prepared Don for the unique, eye-opening adventure he embarked on. His direct involvement with the men, women and children who call this base home has been inspiring, and impacted him in a way I could never imagine. Don has seen how dedicated these young service members are to their tasks, to their country, and how they stay focused on taking care of this base and our country, no matter what emotional issues they may be facing here or back home.

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Chris Reese

Senior Associate

Phoenix

Chris Reese is a senior associate with Colliers in Arizona and member of the top-producing industrial team of Don MacWilliam and Payson MacWilliam. The team specializes in industrial real estate sales and leasing in the Southwest Valley distribution market.

Services include tenant representation and agency listings from many major developers, such as Merit Partners, ProLogis, EastGroup Properties, First Industrial Realty Trust, Sun State Builders, Exeter Properties, Sun Life Assurance, Majestic Development and CapRock Partners.

Chris works closely with clients to evaluate their short- and long-term objectives and aligns marketing strategies with their business goals to deliver results. His strong financial background enables him to calculate current and potential property values, prepare occupancy and operational cost analyses, and provide financial comparisons. His goal is to maximize the financial returns for the team’s clients.

He carefully guides clients throughout the leasing, acquisition and disposition process, ensuring their best interests are represented throughout final transaction negotiations.

Clients and colleagues describe Chris as smart and analytical, with a disciplined and dedicated work ethic. His accountability, diligence, communication skills and creative problem-solving make him a valued partner to the team and its clients.

During the past decade, the team has added more than 6 million square feet of user build-to-suits and more than 5 million square feet of speculative development product to the Southwest Valley distribution market. The team has also increased the total distribution base by almost 10 percent in the past 10 years.

Chris has extensive experience in the mortgage and financial services industry. Prior to joining Colliers, Chris was a top-producing president’s club mortgage banker and solution consultant for Quicken Loans.

In this role, he maintained a high level of accuracy and due diligence, leading to a top 10 percent loans closed rate. He consistently led the company in closed and conditionally approved loans. Chris developed relationships with potential clients, educated them about the loan approval process, and provided constructive solutions to build and maintain business. His success at Quicken Loans was demonstrated by the promotions he received in the fastest timeframe allotted.

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