Newmark Grubb Knight Frank announced that IRIS USA Inc., a subsidiary of Japanese consumer products manufacturer IRIS Ohyama Inc., has purchased a 59-acre site at Surprise’s Skyway Business Park from SKD Holdings in Phoenix, Arizona, on July 30.

The Sendai, Japan-based business is developing a 420,000-square-foot office, manufacturing and distribution facility near the southwest corner of Dysart and Cactus roads. IRIS USA plans to manufacture and market its plastic storage products as well as conduct research and development at the site.

"IRIS USA selected Surprise for its western regional headquarters due to the site's excellent location and infrastructure, as well as the myriad of community amenities our city offers," Surprise Mayor Sharon Wolcott said. "IRIS will be investing tens of millions of dollars and creating approximately 150 jobs in our city that will significantly add to our overall economic base. Our community is thrilled to welcome the IRIS family to Surprise, Arizona."

Newmark Grubb Knight Frank (NGKF) managed the closing represented by Rob Stephens, Sheila Bale and Ryan O'Connor of Arizona. David Scherer of Las Vegas represented SKD Holdings LLC in the operation.

Stephens noted that the site is served by rail and is also "in a designated Foreign Trade Zone, is of significant value to IRIS USA. These special benefits, paired with the premium accessibility and location, helped to cement IRIS' decision to plant a company flag in Surprise."

IRIS USA currently maintains manufacturing facilities at its corporate headquarter in Pleasant Prairie, Wisconsin, as well as Mesquite, Texas.