CBRE's Mike Parker recently executed leases at two different industrial properties in Gilbert.

The new leases total 92,723 square feet and were signed last month.

The first lease was signed by Phoenix Defense Ventures at 1352 N. Fiesta Blvd., Gilbert. The engineering services and aerospace manufacturing company signed a lease for the entire 59,723-square-foot building.

“The developer's decision to construct a new building in a tight submarket yielded a tenant within the submarket that valued proximity to its existing operations," Parker said in a release. "The building had all the right features for both distribution and manufacturing operations, enabling us to secure a local manufacturer before completion of the project."

The second lease was at Power Gateway 202 in Gilbert. Owl Vans signed a 33,000-square-foot lease. The space will serve as an expansion for its manufacturing, assembly and distribution across the nation.

"Owl Vans viewed a video distributed by our team showcasing the project, called us, and within an hour of the call, we had a proposal for their consideration," Parker said. "The landlord's flexibility and ability to grow the tenant as their expansion needs evolve significantly influenced their decision to relocate to the Power Gateway 202 Project."