This week’s Phoenix Lease Report highlights a ground lease to And Go Concepts in Peoria that was handled by Matt Harper, CCIM, of NAI Horizon Peter McQuaid with Avison Young.

The following leases were conveyed to the Real Estate Daily News for Phoenix between November 2 thru Novemeber 6, 2020.

GROUND LEASE – 3315-3443 W PEORIA
Matt Harper, CCIM, of NAI Horizon represented the landlord, TSP Metro Gateway, LLC in a 180-month retail ground lease for 64,793-square-feet at 3315-3443 W. Peoria Ave., Phoenix, AZ. The tenant, And Go Concepts, LLC was represented by Peter McQuaid with Avison Young.  

INDUSTRIAL – 5701 W LATHAM ST., PHOENIX
Isy Sonabend and Drew Eisen of NAI Horizon represented the tenant, Metropolitan Warehouse & Delivery in a 63-month industrial lease for 25,602-square-feet at 5701 W. Latham St, Phoenix, AZ. The landlord, EastGroup, was represented by Mike Gilbert with Cushman & Wakefield.

OFFICE – 5013 E WASHINGTON ST., PHOENIX
Laurel Lewis of NAI Horizon represented the landlord, Zelus USA, LLC in a 46-month office sublease for 3,738-sqaure-feet at 5013 E. Washington St., Phoenix, AZ. The tenant, WWC Operations Corp. was represented by Loren Lovell with JLL.

RETAIL – 3345 N 19^TH AVENUE, PHOENIX
Jake Ertle and Nic Chavira of Rein & Grossoehme Commercial Real Estate represented the owner, CVP – 19th Avenue & Osborn, LLC and the tenant, Averhealty in the lease of 3,306-square-feet at 3345 N 19th Avenue in Phoenix, AZ, in the 19th Avenue and Osborn Shops at the SEC of 19th Avenue and Osborn.

OFFICE – 1204 E BASELINE RD., TEMPE
Joe Pequeno and Troy Giammarco of NAI Horizon represented the tenant, Taylor, LLC in a 36-month office lease for 3,116-square-feet at 1204 E. Baseline Road, Tempe, AZ. The landlord, McCandless Properties was self represented.

RETAIL – 12426-12456 N 28^TH DR., PHOENIX
Nic Chavira of Rein and Grossoehme Commercial Real Estate represented the owner and Sam Engel of Rein and Grossoehme Commercial Real Estate represented the tenant in the lease of 2,212-square-feet in Metro Village to Embrace Hope, LLC at 12426-12456 N 28^th Dr. in Phoenix, AZ.

RETAIL – 16955 N 75^TH AVE., PEORIA
Matt Harper, CCIM, of NAI Horizon represented the tenant, Teriyaki One Thirty-Two AZ, LLC in a 60-month retail lease for 2,000-square-feet at 16955 N. 75^th Ave., Peoria, AZ. The landlord, Randall C. Naess, Deette Richmond Sipos and Robert E. Richmond as Co-Trustees of the Testamentary Trust Created under the will of Edmond N. Richmond, was represented by Chuck Gibson with SRS.

RETAIL – 7448 W GLENDALE AVE., GLENDALE
Matt Harper, CCIM, of NAI Horizon represented the landlord, LASA Realty, LLC in a 38-month retail lease for 1,800-square-feet at 7448 W. Glendale Ave., Glendale, AZ. The tenant, Brad Johnson Injury Law, PLLC was represented by Rodd Kestenbaum with Cresa.

RETAIL – 743 S LINDSAY RD., GILBERT
Jennifer Loehnert of NAI Horizon represented the tenant, Happy Tails Bakery, in a 60-month retail lease for 1,500-square-feet at 743 S. Lindsay Road, Gilbert, AZ. The landlord, Shoppes at Mirador Square, LLC was represented by Stefan Boros with Boros Investments, Inc.

RETAIL – 4815 E CAREFREE HWY., CAVE CREEK
Matt Harper, CCIM, of NAI Horizon represented the tenant, Glazed Donuts, LLC in a 60-month retail lease for 1,401-square-feet at 4815 E. Carefree Highway, Cave Creek, AZ. The landlord, SJF Carefree, LLC and HSB Carefree, LLC was represented by Katie Weeks and Bryan Ledbetter with Western Retail.

INDUSTRIAL – 42302 N VISION WAY, ANTHEM
Rick Foss and Jay Olson of NAI Horizon represented the landlord, Friedman Anthem, LLC in a 36-month industrial lease for 1,153-square-feet at 42302 N. Vision Way, Anthem, AZ. The tenant, Wireless Revolution, LLC was represented by Denny Mitchell with Platinum Realty Group.

RETAIL – 11001 N 99^TH AVE., PEORIA
Matt Harper, CCIM, of NAI Horizon represented the landlord, Grand Center Plaza, LLC in a 12.5-month retail lease for 1,107-square-feet at 11001 N. 99^th Avenue, Peoria, AZ. The tenant, Phoenix Pro Pool, LLC was self-represented.

INDUSTRIAL – 1365 W BROADWAY, MESA
Joan Krueger of NAI Horizon represented the landlord, Vale Holdings, LLC in a 38-month industrial lease for 1,100-square-feet at 1365 W. Broadway, Mesa, AZ. The tenant, SNB Motors, LLC was represented by Aaron Dutcher with MHG Commercial.

RETAIL – 20987 N JOHN WAYNE PKWY., MARICOPA
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon of NAI Horizon represented both the landlord, CC Fund II Maricopa, LLC and the tenant, Helen’s Kitchen, LLC in a 64-month retail lease for 1,080-square-feet at 20987 N. John Wayne Parkway, Maricopa, AZ.

OFFICE – 1645 E MISSOURI AVE., PHOENIX
Mike Myrick, CCIM, of NAI Horizon represented the tenant, Peace of Mind Counseling Services, LLC in a 64-month office lease for 944-square-feet at 1645 E. Missouri Ave., Phoenix, AZ. The landlord, N19OFF1, LLC was represented by Matt Fredrick with Lee & Associates.

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Activity brings MiTek’s metro Phoenix footprint to more than 412,000 s.f.

TOLLESON, Arizona, – On behalf of developer Merit Partners, Phoenix-based general contractor Stevens-Leinweber Construction (SLC) has been selected to lead a 153,721-square-foot tenant improvement for MiTek that will bring new jobs to metro Phoenix and expand MiTek’s local footprint to 412,921-square- feet.

Initiated this month, the new MiTek building will add to the company’s existing presence at Tolleson Corporate Park with an adjacent facility featuring new Class A office and distribution space.

“As a submarket, Tolleson is experiencing tremendous industrial growth, with even more opportunity on the drawing board,” said SLC Director of New Construction Erik Powell. “It is an exceptional location for MiTek to expand its presence, and we are honored to have been selected to lead that charge.”

As the project’s general contractor, SLC will customize the Tolleson facility with 4,244-square-feet of Class A office space, new state-of-the-art dock loading packages, a custom overhead door to manage oversized inventory, and 3,600-amps of additional power to support MiTek’s modern distribution effort.

Additional features at the project will include 40’ clear height, LED lighting, an evaporative-cooled warehouse with integrated power relief, insulated walls and ceilings throughout and heavy duty Rite Hite dock packages to accommodate the weight of the MiTek steel roll product.

MiTek is a global supplier of services and products to the construction sector. The company currently operates from a 259,200-square-foot building at 7890 W. Lincoln St. Its second building totals 153,721 square feet directly to the west, at 7506 W. Lincoln St.

SLC began improvements on the 7506 building this month, with completion and MiTek move-in expected in February, 2021.

SLC is also the ground-up general contractor for the shell building housing the new MiTek expansion – a 250,000-square-foot, multi-tenant project by developer Merit Partners and leased in part to GP Corrugated, who moved in to 100,000 square feet at the building in mid-2020. The MiTek expansion brings the building to 100 percent leased.

TUCSON (VAIL) ARIZONA – Richmond American joins Pulte, KB Home and Lennar at the Rocking K master planned community. Lennar recently purchased an additional 113 platted lots for their Wildflower Estates neighborhood at Rocking K for $5,328,926 ($47,159 per lot) and Richmond American bought 140-lots platted lots for $5,967,500 ($42,625 per lot).  The lots are 65’ x 130’ and 55’ x 125’ respectively. The Seller in both transactions was Rocking K Development Co. (Diamond Ventures, Inc, David Goldstein, President)

“We are excited to be on schedule for our early 2021 opening,” said Priscilla Storm, Vice-President of Diamond Ventures, developer of Rocking K. “Builders have already submitted 32 different house plans to provide buyers with choices for every lifestyle and budget. And all of the builders are starting construction of their Rocking K models in the next 30-60 days. The construction of the Valencia Road connection is going to be a real game changer for easy access from Rocking K to all the eastside’s major employers and services. The park construction is also underway and it is exciting to see the ballfields and splash pad come out of the ground.”

Pulte, Lennar and KB Home closed on the first 558 lots approximately a year ago, a mixture of 40’ thru 60’ by 125’ and 130’ lots for an aggregate of $37.4 million. These latest transactions bring the total to 811 lots in the initial phase.

The development goal of the community is to connect neighborhoods to nature. The Rocking K Community is “Designed by Nature” to integrate neighborhoods with large natural open spaces and native landscapes with extensively landscaped streets and a network of connecting trails.

Will White and John Carroll of Land Advisors Organization – Tucson handled these transactions and continue to represent Diamond Ventures at the Rocking K community.

“Rocking K is a one-of-a-kind property and demand to be part of this master-planned community continues to grow” said White. “The Tucson metro land and housing market is extremely strong and being driven by huge demand in housing and a historic land and lot shortage.”

For more information, White and Carroll should be reached 520.514.7454.