The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from August 1 thru 5, 2016.

OFFICE – 1070 E. VALENCIA RD., TUCSON
Aerovation leased 34,626-square-feet at 1070 E. Valencia Road. The transaction was handled by Bob DeLaney, Tim Healy and Ian Stuart with CBRE’s Tucson office. [mepr-show rules=”58038″]Tenant Phone: 520.308.6409[/mepr-show]

INDUSTRIAL – 845 E. OHIO St., TUCSON
XO Windows, LLC leased 10,000-square-feet at 845 E. Ohio St., Suite 107 in Tucson from 845 E. Ohio, LLC.   Brandon Rodgers, CCIM; Russell W. Hall, SIOR, GSCS; and Stephen D. Cohen, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.44 SF/MO Modified Gross; Tenant Phone: 1.866.995.6616 (Corporate)[/mepr-show]

RETAIL – 4501 / 4517 E 22^nd ST., TUCSON
The Hermitage No Kill Cat Shelter, Inc. leased 8,235-square-feet at 4501 / 4517 E. 22^nd St. in Tucson from RRN, Inc.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.50 – $0.60 SF/MO Modifeed Gross; Tenant Phone: 520.571.7839[/mepr-show]

OFFICE – 1779 W. ST. MARY’S, TUCSON
Community Health Associates leased 7,142-square-feet of office space at 1779 W. Saint Mary’s. The landlord was represented by David Montijo and Damian Wilkinson with CBRE’s Tucson office. The tenant was represented by Ian Stuart and David Blanchette with CBRE’s Tucson office.  [mepr-show rules=”58038″]Asking Lease rate: $17.00 SF/YR Modified Gross[/mepr-show]

RETAIL – 3662 W. INA RD., TUCSON
Southern Arizona Urgent Care leased 5,817-square-feet at Ina Meredith Center. The tenant was represented by Aaron Laprise with Cushman & Wakefield | PICOR. The landlord was represented by Pete Villaescusa and Jesse Peron with CBRE’s Tucson office. This location will be the fourth for Southern Arizona Urgent Care, a locally based health care company. [mepr-show rules=”58038″]Tenant Phone: 520.544.2273[/mepr-show]

INDUSTRIAL – 6401 S. COUNTRY CLUB RD., TUCSON
Interoptics, LLC leased 4,346-square-feet at Airport Business Plaza, 6401 S. Country Club Rd., Suites 107 – 109 in Tucson, from ABP, LLC.  Pat Welchert, SIOR, and Jeff Zellet with Cushman & Wakefield | PICOR, represented the landlord and Jesse Blum with CBRE, Inc., represented the tenant in this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.60 – $0.70 SF/MO NNN[/mepr-show]

RETAIL – 650 E 9^th ST., TUCSON
Wayne Martin Belger leased 4,100-square-feet at 650 E. 9th St. in Tucson from Rodgers Investment Fund II, LP.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.60 SF/MO Modified Gross[/mepr-show]

OFFICE – 7400 N. ORACLE RD., TUCSON
Fidelity National Title leased 3,497-square-feet of office space at Northwest Corporate Centre, located at 7400 N. Oracle Road. The landlord was represented by Dan Wesson at Waterfall Group, and the tenant was represented by David Montijo and Damian Wilkinson with CBRE’s Tucson office.

RETAIL – 10420 N. LA CANADA DR., TUCSON
Meza Restaurants leased 3,311-squar-feet at Canada Hills, 10420 N. La Canada Drive for a New Mexican style restaurant. The landlord and tenant were represented by Michael Laatsch with CBRE’s Tucson office. [mepr-show rules=”58038″]Asking lease rate: $17.00 SF/YR NNN[/mepr-show]

RETAIL – 88 E. BROADWAY BLVD., TUCSON
Atmosphere Commercial Interiors leased 2,943-square-feet of showroom space in the TEP headquarters building at 88 E. Broadway Blvd. from Tucson Electric Power Company.  Atmosphere is the licensed Steelcase dealer for the state of Arizona and provides furnishings for corporate, education, healthcare, sports, and hospitality spaces around the country, including furnishing the TEP headquarters.  Paul Hooker, Industrial Specialist with Cushman & Wakefield | PICOR, represented the tenant and Buzz Isaacson with CBRE, Inc., represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $22.00 SF/YR NNN; Tenant Phone: 520.792.4200[/mepr-show]

OFFICE – 4572 – 4574 E. BROADWAY BLVD., TUCSON
The Southern Arizona Research Science and Engineering Foundation has leased 2,910-square-feet at Midstar Plaza, 4572-74 E. Broadway Blvd.  Both the tenant and landlord, Midstar Partners, LLC was represented by Nancy McClure with CBRE’s Tucson office. SARSEF has been in operation in Tucson for the last 61 years. [mepr-show rules=”58038″]Tenant Phone: 520.622.8886[/mepr-show]

OFFICE – 1670 N. KOLB RD., TUCSON
Fidelity National Title leased 1,987-square-feet at Kolb Executive Park. The landlord was represented by Diana Dessy with Anthem Equity Group. The tenant was represented by David Montijo and Damian Wilkinson with CBRE’s Tucson office.

OFFICE – 1609 N. WILMOT RD., TUCSON
RISE Services, Inc. has leased 1,719-square-feet at Dorado Park Offices, 1609 N. Wilmot Road, Suite 106C, from Deebco Properties.  Andrew Sternberg of Oxford Realty Advisors handled the transaction. [mepr-show rules=”58038″]Tenant Phone: 520.298.6468[/mepr-show]

OFFICE – 3110 E. FT. LOWELL RD., TUCSON
Jessica Breton & Denisse Cabrera leased 1,580-square-feet of office space at 3110 E. Fort Lowell. The transaction was handled by David Montijo and Jeff Casper with CBRE’s Tucson office.

INDUSTRIAL – 4500 E. SPEEDWAY BLVD., TUCSON
Construction Specialties & Maintenance, LLC (CSM) leased 1,200-square-feet in Midway Business Park, 4500 E. Speedway, Suite 65 in Tucson, from Presson Midway, LLC.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord.   Jeff Zellet, Commercial Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.72 – $0.80 SF/MO Modified Gross[/mepr-show]

OFFICE – 1661 N. SWAN RD., TUCSON
The Women’s Foundation of Southern Arizona has leased 908-square-feet of office space at 1661 N. Swan Road. The tenant was represented by Nancy McClure with CBRE’s Tucson office and the landlord, DH Property Investments, LLLP was represented by David Montijo and Damian Wilkinson with CBRE’s Tucson office. [mepr-show rules=”58038″]Asking lease rate: $17.00 SF/YR Full Service; Tenant Phone: 520.622.8886[/mepr-show]

PHOENIX, AZ – Western Wealth Capital, a Vancouver, Canada-based multi-unit rental property investment firm, recently purchased the 197-unit Arbors on 5^th in Tempe for $21.3 million ($108,000 per unit) and the 148-unit Arcadia Walk in Phoenix for $13.66 million ($92,000 per unit).

After closing on these back-to-back multifamily deals in two days, Western Wealth Capital now owns 23 properties and 3,834 units in the Phoenix area. The firm is the 3rd largest multifamily property owner in Phoenix in terms of number of properties and the 8th largest multifamily property owner in terms of units, according to Yardi Matrix.

“The Phoenix multifamily market continues to provide extensive opportunities,” said Janet LePage, founder of Western Wealth Capital. “By applying our unique value add strategy and an understanding of the fundamentals of the market, Western Wealth Capital has been able to locate the strongest investments in the Phoenix area. We continue to be bullish in our acquisitions.”

Arbors on 5^th , at 805 W. Brown St. in Tempe, is located near Arizona State University and the light rail. Built in 1967, the townhouse-style complex has a unit mix of 72 percent two-bedroom, 18 percent one-bedroom, and 10 percent studio. Western Wealth Capital purchased Arbors on 5^th from Hamilton Zanze of San Francisco. The Cooke Multifamily Investment team (Cindy Cooke and Brad Cooke) of Colliers International in Greater Phoenix brokered the transaction for both sides.

Arcadia Walk, at 2606 N. 44th St. in Phoenix, is located in the desirable Arcadia area and near the Arcadia Crossing shopping center. Built in 1978, the apartment complex has a unit mix of 76 percent one-bedroom, 22 percent two-bedroom and 2 percent studio. Western Wealth Capital purchased Arcadia Walk from SUP 44th Street 148 LLC, based in Pacific Palisades, Calif. The HSK Multifamily team (Bill Hahn, Jeffrey Sherman and Trevor Koskovich) of Colliers International in Greater Phoenix brokered the transaction for both sides.

The founding partners of Western Wealth Capital have been successfully investing in Phoenix- based multiple-unit rental properties since the early 1990’s. With an asset value of more than $250 million, Western Wealth Capital is now recognized as an industry leader in western North America. Western Wealth Capital is actively seeking multifamily opportunities in the Phoenix area and is one of the most active buyers in the market. Visit www.westernwealthcapital.com.

CBRE has released a report exploring the recent rise and future growth potential of restaurants in the US retail real estate.

With economic recovery and shifting consumer habits driving significant gains in the restaurant sector, restaurants accounted for approximately 15% of all retail spending in Q1 2016 (excluding motor vehicles and parts). The secotr reached a milestone in 2015 when the U.S. Census Bureau reported that restaurant industry sales surpassed grocer sales for the first time in history. And the gap is expected to increase.

This has caught the eye of retail landlords, who want to shift tenant mix from low-growth categories vulnerable to e-commerce towards the traffic drivers of services and experience. The result is the proliferation of new and existing restaurants taking up more an dmore retail real estate, as landlords scramble to attract the best restaurant tenants to their properties – a veritable food and beverage frenzy.

What is driving this restaurant growth and how long will it last? How can retail landlords benefit today and in the future?

The report analyzes the sectors key growth drivers and the retail real estate opportunities.

Key Highlights the report:

• 4 “hot” concepts explored: food trucks, food halls, celebrity chef restaurants, and grocers (“grocerants”)
• Restaurant sales growth has surpassed all other core retail categories since the recession (+20 percent between 2012 and 2015 alone)
• San Francisco, Washington, D.C., and Dallas / Fort Worth rank highest in per capita restaurant spending.
• Other secondary markets positioned for rapid growth include Denver, Baltimore and Philadelphia.
• New lease structures: Restaurants, especially newer and local concepts, come with more credit risk relative to other categories. Landlords are finding creative ways of structuring leases to mitigate that risk, including equity partnerships, percentage rent and shorter-term agreements.

To see the full report click here: ViewPoint_Now_Serving_Retail_Growth