TUCSON, ARIZONA — Highlighted this week is 23,476-square-foot industrial space at 6360 S Tucson Blvd. in Tucson to Motion Industries handled Robert C. Glaser, SIOR, CCIM, and Paul Hooker, SIOR with Cushman & Wakefield | PICOR.

The following leases were submitted to the Real Estate Daily News for the Tucson Lease Report from January 24 thru 28, 2022.

INDUSTRIAL – 6360 S TUCSON BLVD., TUCSON
Motion Industries, Inc., leased 23,476-square-feet of industrial space from Daybreak Industrial QOB, LLC, located in Daybreak Distribution Center, 6360 S. Tucson Blvd., Suite 100 in Tucson.  Cushman & Wakefield | PICOR Industrial Specialists, Robert C. Glaser, SIOR, CCIM, and Paul Hooker, SIOR, handled this transaction.

INDUSTRIAL – 3825 E 37H STREET, TUCSON
Wyoming Dinosaur Discovery, LLC, leased a 4,414-square-foot industrial building from Western American Investments, LLC, located at 3825 E. 37th Street in Tucson. Paul Hooker, SIOR, Principal and Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 1391 W GRANT RD., TUCSON
InTegriLogic Corporation renewed their lease with First Family Company LTD, for 3,281-square-feet of industrial space at 1931 W. Grant Rd., Suite 310 in Tucson. Robert C. Glaser, SIOR, CCIM, Principal, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 3669 E 44^TH STREET, TUCSON 
Empire Ridge Ranch LLC leased 2,540-square-feet of industrial space at Dodge Business Center, 3669 E. 44th St. in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 4500 E SPEEDWAY BLVD., TUCSON
CPR2U, LLC renewed their lease with Pegasus Tucson Owner, LLC for 2,400-square-feet of space at Midway Business Park, 4500 E. Speedway Blvd., Suite 58 in Tucson. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 3820 S PALO VERDE RD., TUCSON 
Green Shield Pest Control of Tucson, LLC leased 2,335-square-feet of industrial space at Palo Verde Business Center, 3820 S. Palo Verde Rd., Suite 112 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. Ryan Leavitt with Ventana Commercial, LLC, represented the tenant.

OFFICE – 315 N ORACLE RD., TUCSON
Doug Newborn Law Firm, PLLC leased a 2,091-square-feet of office space at Two Oracle, 7315 N Oracle Rd, Suite 230, located Just North of the NWC of Oracle Rd. & Ina Rd.  The Premises will be used as a law office offering services in probate, estate planning, personal injury, vehicle collision, and guardianship and conservatorship. Isaac Figueroa of Larsen Baker and Rick Volk of The Volk Company represented the Landlord, Larsen Baker. John Yarborough of Romano Real Estate represented the tenant.

OFFICE – 1840 E VALENCIA RD., TUCSON 
MEI Mail Services, Inc., leased 1,615-square-feet of office space from Tucson Aeroplex, LLC, located in the Aeroplex building in Tucson, 1840 E. Valencia Road, Building 8, Suite 217A. Cushman & Wakefield | PICOR handled this transaction. Paul Hooker, SIOR, Principal, and Industrial Specialist represented the landlord; Ryan McGregor, Office Specialist, represented the tenant.

RETAIL – FRONTIER VILLAGE, 3933 E PIMA, TUCSON
Seeds/Southwestern Endangered Aridland Resources Clearing House Inc. (Seeds/SEARCH) leased 1,500-square-feet at Frontier Village. Native seeds/SEARCH will use the space as a distribution facility supporting online sales of various crop seeds and other products. They will begin their operations February 1, 2022. Elaina Elliot and Isaac Figueroa with Larsen Baker represented the Landlord Frontier Village, LLC an affiliate of Larsen Baker. Molly Mary Gilbert with Cushman & Wakefield|Picor represented the tenant.

INDUSTRIAL – 3860 S PALO VERDE RD., TUCSON
Kettlelicious LLC leased 1,120-square-feet of industrial space at Palo Verde Business Center, 3860 S. Palo Verde Rd., Suite 312 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 3621 E 44^TH STREET, TUCSON 
RMS Doors LLC leased 900-square-feet of industrial space at South Dodge Business Center, 3621 E. 44th St., Suite 6 in Tucson, from Pegasus Tucson Owner LLC. Paul Hooker, SIOR, Principal, and Andrew Keim, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

Submit sales and leases to [email protected]

PHOENIX, ARIZONA —  Highlighted this week is a 32,800-square-foot lease handled by Laurel Lewis of NAI Horizon and Mark Seale with Avison Young.

The following lease transactions were submitted to the Real Estate Daily News as consummated from January 24-28, 2022.

OFFICE – 6770 N SUNRISE BLVD., GLENDALE
Laurel Lewis of NAI Horizon represented the landlord, Terminix International in a 50-month office lease for 32,800-square-feet at 6770 N. Sunrise Blvd., Glendale, AZ. The tenant, TKC Operations, Inc., was represented by Mark Seale with Avison Young.

GROUND LEASE – 48^TH & THOMAS RD, PHOENIX
Matt Harper, CCIM, of NAI Horizon represented the landlord, Emad Investment LLC, in a 12-month land lease for 15,165-square-feet at S/SEC 48th Lane and Thomas Road, Phoenix, AZ. The tenant, PV Landscape Services LLC, was self-represented.

MEDICAL OFFICE – 655 S DOBSON RD, CHANDLER
Lane Neville, Logan Crum and Cole Neville of NAI Horizon represented the landlord, Tolis Advisors, in a 153-month office lease renewal and expansion for 10,994-square-feet at 655 S. Dobson Road, Chandler, AZ. The tenant, Lilac Ob-Gyn, was represented by Marina Hammersmith & Tyrel Williams with Orion Investment Real Estate.

RETAIL – 1522 W TODD DR, TEMPE
Jeff Adams of NAI Horizon represented both the landlord, Air Zip Enterprises, LLC, and the tenant, Sunset Spas of Arizona, LLC, in a 7-month industrial sublease for 8,185-square-feet at 1522 W. Todd Drive, Tempe, AZ.

RETAIL – 9250 N 43^RD STREET, GLENDALE
Matt Harper, CCIM, of NAI Horizon represented the landlord, 43rd Avenue, LLC, in a 65-month retail lease for 4,450-square-feet at 9250 N. 43rd Ave., Glendale, AZ. The tenant, Sterling Holding CO. LLC, was represented by Mark Johnson with DPR Commercial.

OFFICE – 3120 N 19^TH AVE., PHOENIX
Joe Pequeno and Troy Giammarco of NAI Horizon represented the landlord, Anthony J. Rossetti, in a 12-month office lease for 3,500-square-feet at 3120 N. 19th Ave., Phoenix, AZ. The buyer, Universal Management Group, LLC by Tara, was self-represented.

OFFICE – 9015 E DEL CAMINO DR., SCOTTSDALE
Laurel Lewis of NAI Horizon represented the tenant, Pacific International Vegetable Marketing in a 51-month office lease for 3,220-square-feet at 9015 E. Del Camino Drive, Scottsdale AZ. The landlord, LPC Pima, LLC, was represented by Colton Trauter with Lee & Associates.

INDUSTRIAL – 2329 W MESCAL ST., PHOENIX
Jennifer Loehnert of NAI Horizon represented the tenant, Accelerate Retail Partners, LLC, in a 36- month industrial lease for 3,207-square-feet at 2329 W. Mescal St., Phoenix, AZ. The landlord, Seaphxtt, LLC, was represented by Conner Lee with Lee & Associates.

OFFICE – 7301 N 16^TH STREET, PHOENIX
Kevin Higgins of NAI Horizon represented the landlord, Bogle Family Realty in a 62-month office lease for 2,564-square-feet at 7301 N. 16th St., Phoenix, AZ. The tenant, MH7, LLC, was represented by Scott Whitney with Whitney Realty and Investments.

OFFICE – 1204 E BASELINE RD., TEMPE
Joe Pequeno and Troy Giammarco of NAI Horizon represented both the landlord, McCandless Properties, LLC, and the tenant, Medford’s Home, LLC, in a 25-month office lease for 2,499-square-feet at 1204 E. Baseline Road, Tempe, AZ.

OFFICE – 1545 N McQUEEN RD., GILBERT
Jeff Adams of NAI Horizon represented the landlord, 1545 N. McQueen, LLC, in a 24-month industrial lease for 2,200-square-feet at 1545 N. McQueen Road, Gilbert, AZ. The tenant, WoodworkAZ, LLC, was represented by Bruce Hanley with EXP Commercial.

RETAIL – 5114 W McDOWELL RD., PHOENIX
A lease for 2,200-square-feet in McDowell Square Shopping Center to Eegees was recently consummated. The location of the property is 5114 W McDowell Rd in Phoenix, AZ. The owner of the center is CVP McDowell Square, LLC and McDowell People LLC. Jake Ertle and Nic Chavira of Rein & Grossoehme Commercial Real Estate represented the owner and First American Investment LLC represented the tenant.

OFFICE – 18001 N 79^TH AVE., GLENDALE
Joe Pequeno and Troy Giammarco of NAI Horizon represented the landlord, Avondale Medial Campus, LLC, in a 39-month office lease for 2,160-square-feet at 18001 N. 79th Ave., Glendale, AZ. The tenant, Waterstone Mortgage Corporation, was represented by Jeff Smith with CW Advisors.

RETAIL – 3137 & 3139 STOCKTON HILL RD, KINGMAN
Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the landlord, The Weigel Family Legacy Trust, in a 60-month retail lease for 2,100-square-feet at 3137 & 3139 Stockton Hill Road, Kingman, AZ. The tenant, CSC Holdings, LLC, was represented by Johnny Meins with ReMax Prestige Properties.

RETAIL – 16425 E PALISADES BLVD., FOUNTAIN HILLS
Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the landlord, Bailey Red Rock Plaza LLC, in a 36-month retail lease for 1,640-square-feet at 16425 E. Palisades Blvd., Fountain Hills, AZ. The tenant, Chill Boutique, was self-represented.

RETAIL – 5140 W PEORIA AVE., GLENDALE
Matt Harper, CCIM, of NAI Horizon represented the tenant, Metz Tax Service Inc., in a 62-month retail lease for 1,550-square-feet at 5140 W. Peoria Ave., Glendale, AZ. The landlord, Glendale Square Holdings Inc., was represented by Calvin Williams with Realty One Group.

RETAIL – 1659 E INDIAN SCHOOL RD., PHOENIX
A lease for 1,500-square-feet in the 17th Street & Indian School shopping center to BeShaper, LLC was recently consummated. The location of the property is 1659 E. Indian School Rd., in Phoenix, AZ. Kevin Roessler of Rein & Grossoehme represented the landlord and tenant.

OFFICE – 141 E PALM LANE, PHOENIX
Don Morrow, Dylan Whitwer and Mike Myrick of NAI Horizon represented both the landlord, Michael & Graciella Richards in a 39-month office lease for a 1,470-square-feet at 141 E. Palm Lane, Phoenix, AZ.

RETAIL – 1134 S STAPLEY DR., MESA
Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the landlord, SimonCRE CSH II, LLC, in a 120-month retail lease for a 1,400-square-feet at 1134 S. Stapley Drive, Mesa, AZ. The tenant, Blazin Wings, Inc was represented by Ali Hill with Phoenix Commercial Advisors.

RETAIL – 1717 W SOUTHERN AVE., PHOENIX
A lease for 1,300-square-feet in Southern 19 Plaza to Southern Belle Spices & Food was recently consummated. The location of the property is 1717 W. Southern Ave., in Phoenix, AZ. Jim Edwards & Kevin Roessler of Rein & Grossoehme represented the owner and tenant.

RETAIL – 5870 W THUNDERBIRD RD., GLENDALE
Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the landlord, CP6GT, LLC, in a 12-month retail lease for 1,200-square-feet at 5870 W. Thunderbird Road, Glendale, AZ. The tenant, Northwest Testing, LLC, was represented by Jason Bitton with RE/MAX Suburban.

OFFICE – 4433 N 19^TH AVE., PHOENIX
Joe Pequeno and Troy Giammarco of NAI Horizon represented the landlord, Steve Iskhakov, in a 24- month office lease for 1,163-square-feet at 4433 N. 19th Ave., Phoenix, AZ.

RETAIL – 8021 N 43^RD STREET, PHOENIX
A lease for 1,000-square-feet in 43rd Avenue Plaza to CityScape Tax was recently consummated. The location of the property is 8021 N. 43rd Ave., in Phoenix, AZ. Kevin Roessler & Jim Edwards of Rein & Grossoehme represented the tenant and owner.

OFFICE – 141 E PALM LANE, PHOENIX
Don Morrow, Dylan Whitwer and Mike Myrick of NAI Horizon represented the landlord, Michael & Graciella Richards, in a 24-month office lease for 914-sqaure-feet at 141 E. Palm Lane, Phoenix, AZ. The tenant, CorTech, was represented by Keri Davies with LevRose.

OFFICE – 7440 E PINNACLE PEAK RD., SCOTTSDALE
Dylan Whitwer and Laurel Lewis of NAI Horizon represented both the landlord, August Building Company, and the tenant, KLMR Summit Homes, LLC, in a 7-month office sublease for 769-square-feet at 7440 E. Pinnacle Peak Road, Scottsdale, AZ

OFFICE – 722 E OSBORN RD., PHOENIX
Don Morrow and Dylan Whitwer of NAI Horizon represented the tenant, IME Incorporated DBA Innovative Minds in a 38-month lease for 592-square-feet at 722 E. Osborn Road, Phoenix, AZ. The landlord, Osborn Holdings, LLC, was represented by Larry Matheny with Revcorp.

Submit sales and leases to [email protected]

Rebounding economy drives demand for mega deals, retail and wholesale led industrial large-lease activity last year; Phoenix seventh for large transactions

Phoenix, Arizona – Last year was a record year for large warehouse leases, driven by a  rebounding economy and strong e-commerce sales. Companies committed to 57 warehouse leases of  1-million-sq.-ft. or larger across the U.S. in 2021, a 19% increase from 2020, according to CBRE.

CBRE charted the increase in mega warehouse leases as part of its analysis of the 100 largest U.S.  industrial & logistics leases of 2021. CBRE found that, among those 100 leases, the average 2021 transaction size increased to 1,053,000 sq. ft., slightly above 2020’s average of 1,038,183 sq. ft.

“Given today’s supply chain challenges, such as transportation costs, staying ahead of customer demands and on-time deliveries, it is more important than ever for companies to expand their storage space domestically,” said Phoenix-based Senior Vice President Cooper Fratt. “Given Phoenix’s proximity to its West Coast neighbors and their ports, its favorable business environment and pipeline of modern distribution facilities, we anticipate increased demand for these type of mega leases in the region.”

The industry sector claiming the largest share of those 100 leases is general retail and wholesale, which recorded 44 transactions (46.1 MSF). This was a significant jump from 2020 when that sector recorded 32 transactions (35 MSF). E-commerce-only occupiers, last year’s leader, were second at 21
deals (27 MSF), followed by food and beverage users at 15 deals (14.2 MSF).

By market, Chicago had the greatest number of the top 100 transactions with 12. The Pennsylvania I78/81 corridor followed with 11 but recorded the most transacted square feet at 12.4 million. Phoenix ranked seventh with five large transactions totaling 6 million square feet. Greenville –
Spartanburg, SC, a fast-growing market in the southeast, made the top 10 for the first time.

“It’s notable to see Greenville-Spartanburg on this list for the first time,” said James Breeze, Global Head of Industrial & Logistics Research for CBRE. “As core markets continue to struggle with availability, growth markets will begin to see larger deals as occupiers look to address their space
needs.”

Read the entire report here.