Endomed Takes Keys to 15,839 SF in Near $1-Mil Lease

PHOENIX-With patent issues out of the way, Endomed Inc. has moved into an abutting 15,839 sf of research and flex space at Phoenix Tech Center at 10220 S. 51st St. in metro Phoenix. Endomed previously occupied about 7,100 sf of the 22,970-sf structure and has been awaiting resolution of the conflicts before taking over a spot vacated nearly a year ago by Laser Scan, Bruce Calfee, vice president with Grubb & Ellis Co. in Phoenix, tells GlobeSt.com.

Endomed manufactures endovascular grafts that are custom fit to patients. It’s led by the renowned Dr. Ted Diethrich of the Arizona Heart Institute.

Calfee represented tenant and building owners, Jim Freeman and Nick Keiport, in talks for the five-year lease, valued at nearly $1 million. The duo owns one building in the estimated 15-building complex, developed in the late 1980s by Newport Beach, CA-based Koll Development Co. “It stands as one of the premier industrial parks in the metro Phoenix area,” says Calfee. The business park is situated off the intersection of Elliott Road and Interstate 10 and within a five-minute drive of Sky Harbor International Airport.

Endomed’s TIs provided support to install a 5,000-sf clean room while downsizing the executive office component set up by Laser Scan, a manufacturer of catalogs and marketing brochures. The Endomed deal took eight months to complete as its owners worked through patent issues, says Calfee. But, the firm’s in and the operation’s up and running at long last.