Phoenix lease deals are listed in descending order for square-feet:

Isy Sonabend of NAI Horizon represented the landlord, SB Management, in a two-year industrial lease renewal for a 14,557-square-foot space at 54 N. 45^th Ave. in Phoenix.

SRS Real Estate Partners announced that Dollar Tree has signed two new Phoenix leases and a third in Tucson. (see Tucson lease report for third lease)

The first new location is a 10,865-square-foot space at Squaw Peak Plaza located at the NEC of Thomas Road and State Route 51 in Phoenix. Other tenants include; Steven’s Shoes and Douglas Barber Shop. Dollar Tree plans to open in early 2014. The second new location is an 8,000-square-foot space at Gilbert Gateway Towne Center located at the southwest corner of the San Tan Freeway and Power Road in Gilbert. The Target anchored shopping center includes; Michael’s, Ross, Chase, Petsmart and Sweet Tomatoes. Dollar Tree plans to open in early 2014. Kurt Kalocin with SRS Real Estate Partners represented the tenant, Dollar Tree in these transactions. Brian Woods and Tom Woods with Collier’s International represented the Landlord, Vestar, in the Gilbert Gateway Towne Center transaction. Regan Amato and Tyler Chester with Phoenix Commercial Advisors represented the landlord, Kornwasser Shopping Centers, in the Squaw Peak Plaza transaction.

Chris Gerow, Shelby Tworek, and Gabe Ortega of NAI Horizon represented the tenant, Three Fingers, LLC, in a 120-month retail lease transaction for 5,000-square-feet at 1035 W. Queen Creek Rd. in Chandler. Torrey Briegel with Phoenix Commercial Advisors represented the landlord, The Falls Investors, LLC.

Dance Studio C leased 4,060-square-feet at McKellips Lindsay Center located at 2860 E. McKellips Road in Mesa. Michael Gaida of Sperry Van Ness represented the landlord in the transaction. Darin Edwards of CPI represented the tenant.

Richard Mackay of Rein & Grossoehme represented the Landlord and Carol Asnen of RE/MAX represented the tenant in a lease for 3,450-square-feet in Plaza 47 Shopping Center to Truth Ministry Church. The location of the property is 6610 N. 47^th Avenue in Glendale, AZ.  .  The owner of the center is R&G 47^th Avenue LLC.

Mike Myrick and Alexandra Loye of NAI Horizon represented the landlord, Donald G. Lyon Family Trust, in a 65-month office lease transaction for a 2,607-square-foot space at 1553 W. Todd Dr. in Tempe. Ron Moore with Rimrock Companies represented the tenant, Arizona Resource Specialists, LLC.

Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the tenant, EBO Investments, LLC, in a five-year retail lease transaction for a 2,470-square-foot space at 1809 N. Dysart Rd. in Avondale.

Jake Ertle of Rein & Grossoehme Commercial Real Estate represented the Landlord and Bryan Lamond represented the Tenant in a lease for 2,400-square-feet at 4029 N. 28th Avenue in Phoenix, AZ to Lenny’s Burgers. The Landlord is Enayat Abrishami.

Chris Gerow, Shelby Tworek and Gabe Ortega of NAI Horizon represented the tenant, Delia’s Cleaners of Arizona, Inc., in a seven-year retail lease transaction for a 2,302-square-foot space at 9920 S. Rural Rd. in Tempe. Joe Doucett with GDC/RE represented the landlord, SY Warner Ranch, LLC.

Justin Horwitz and Nicole Ridberg of Sperry Van Ness represented the landlord at Ventura Gateway to lease 2,287-square-feet to the SOLIS Group. Ventura Gateway is located at 8687 E. Via De Ventura in Scottsdale. Nathan Wade of 22Back represented the tenant.

Jennifer Keeler of NAI Horizon represented the landlord, West Florence Holdings, LLC, in a 60-month retail lease transaction for 2,000-square-feet at 1609 E. Florence Blvd. in Casa Grande.

Peggy Johnson of NAI Horizon represented the landlord, JTR Casa Real, LLC, in a 14-month retail lease transaction for a 1,784-square-foot space at 3302 N. 3^rd St. in Phoenix.

Mary Ridberg and Rommie Mojahed of Sperry Van Ness represented the landlord at 8^th Avenue Shops in Mesa to lease 1,307-square-feet to Herbalife. This neighborhood retail center is located at 810 S. Alma School Road.  Michael Hashim of AZ Prime Real Estate represented the tenant.

Peggy Johnson represented the landlord, Alice Avenue, LLC, in a 50-month office lease transaction for 1,156-square-feet at 1130 E. Missouri Ave. in Phoenix. Debbie Cato with Diamond Properties represented the tenant, Artplay, LLC.

Jared Lively of Rein & Grossoehme represented the owner and the tenant on a lease for 880-square-feet in Kings Inn Plaza to Matt’s Multimedia.  The location of the property is 10659 W. Grand Ave in Sun City, AZ.  The owner of the center is Kings Inn Plaza, LLC.

Phoenix Lease deals are reported weekly. To submit sales and leases email REDailyNews@outlook.com.

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Tuesday was Election Day. With all the partisan issues we have had over the past few years, it’s understandable that many Americans are turned off by politics and politicians these days. Yet, we believe that exercising our right to vote is what makes our nation great. Even though these off-year elections tend to have low participation rates, we believe that these election years may even be more important for ours and our children’s futures and so we vote. Well at least 67,000 of us in Tucson did, less than 30%.

We understand the 70% rest of you may have been suffering government overload, or just didn’t find the time in 3-weeks to mail a ballot.

So we would just like to say thank-you to the 30% who did manage to vote on or before Election Day this year. There were no “I Voted” stickers handed out, so please just know your vote did matter to the rest of us voting. We were always taught, if you don’t vote, you can’t complain, so just remember that right is reserved for those who participated and voiced their opinion through a ballot.

2013 CITY OF TUCSON GENERAL ELECTION: INCUMBENTS WIN, PROPOSITIONS PASS – In Tuesday’s election, incumbent City Council Members Karin Uhlich, Richard Fimbres, and Steve Kozachick were re-elected. Propositions 401 and 402, the City’s expenditure limit increase and general plan, passed. 60,679 ballots have been counted, representing about 27% of registered voters in the City of Tucson. About 6,900 ballots, most of which were turned in by voters yesterday at City polling locations, have yet to be counted. “I think this shows what we’ve been doing these past years has re-earned the trust with many of the voters in Tucson,” said Mayor Jonathan Rothschild. “And it’s a good sign for the future.”

VAIL INCORPORATION EFFORT FAILS – About 56% of voters in the proposed town of Vail said no to incorporation in yesterday’s election. About 44% of the community’s voters turned out for the election. Citizens for Vail, the group behind the incorporation effort, had proposed an initial budget of $3.2M, to be funded by state-shared revenue. An opposition group calling itself Vail Incorporation Facts claimed the proposed budget was unrealistic, and that the proposed town’s budget would not be able to sustain levels of municipal service currently provided by Pima County. Law enforcement, road maintenance and other municipal services provided by Pima County in its unincorporated areas are paid for by taxpayers countywide, including residents of the City of Tucson, Marana, Oro Valley, Sahuarita and South Tucson.

SUNNYSIDE OVERRIDE FAILS – 53% of voters in Sunnyside Unified School District said no to a proposed budget override that would have provided an extra $9.3 million annually for seven years. Arizona law limits property tax rates that school districts can impose to fund their budgets. However, the state allows residents to vote for an increase of up to 15 percent on that limit.

MESA VOTERS APPROVE $130M BONDS FOR ROADWAY AND PUBLIC SAFETY IMPROVEMENTS – Voters in the City of Mesa approved two bond questions to fund street and public-safety projects. With 96% of the city’s precincts reporting, plus early ballots, the unofficial returns showed “yes” leading 55.7% to 44.3% for Question 1, which would authorize $51.7 million in capital spending for the police and fire departments. Question 2, authorizing $79.1 million for streets and related infrastructure, had received 56% in favor and 44% opposed.

Economic uncertainty combined with online shopping is having an impact on the metropolitan Phoenix retail market study prepared by CBRE Global Research and Consulting. As evidenced by the amount of available retail space, due in large part, to the change in saving and spending habits and the growing presence of internet sales according to the Q3 2013 market study. At some point consumers will return to a much different market. For now, it is a question of when and how strongly they re-enter the market.

The CBRE metropolitan Phoenix retail market study reflects both shopping centers and buildings greater than 300,000-square-feet. The overall vacancy rate at the end of third quarter was 10.5%, a decline of 50 basis points from 11.3% Valley-wide, one year ago.

The Q3 vacancy rate in metro Phoenix for strip and in-line centers was 18.7%, neighborhood centers reported 12.2% vacancy, followed by community centers with 10.8% vacant space and power centers with 5.9% vacancy. There is currently 415,000-square-feet of retail space under construction in metro Phoenix, compared to 923,475-square-feet one year ago.

The availability of big box space remains a concern for property owners throughout the Phoenix area as the number of available spaces continues to impact vacancy. At the end of Q3 there were 133 spaces greater than 20,000-square-feet, totaling 4.9-million-square-feet of available space. One year ago, there were 135 spaces totaling 5.3-million-square-feet. Premium spaces and locations are receiving considerable interest from retailers.

In Q3, metro Phoenix did not deliver any new retail product. The last time this happened was Q2 2012. As a comparison, the delivery of new retail space in metro Phoenix from 2000 through 2010 average was 5.5-million-square-feet per year with a high point in completions occurring in 2007 when 1.6-million-square-feet of new product was brought to market.

In Q3, metro Phoenix retail market recorded positive absorption of 385,625-square-feet and has absorbed 1.1 million-square-feet with 3.7-million-square-feet of gross activity for the year. The retail market has now recorded positive absorption in eight of the last nine quarters. One year ago, the market absorbed 1.2-million-square-feet with 3.5-million-square-feet of gross activity. In Q3, 10 of the 12 submarkets reported positive absorption led by Northwest Phoenix with 125,715-square-feet and Paradise Valley with 88,152-square-feet. Submarkets with the negative absorption were Sun City with 29,750-square-feet and East Phoenix with 12,155-square-feet.

The average net asking lease rate among existing retail centers in metro Phoenix at the end of Q3 was $15.47 per square foot down from $15.83 at the end of 2012. This compares to $16.10 per square foot one year ago and $15.95 per square foot two years ago. The submarket with the highest average asking rate was Paradise Valley which posted a rate of $24.84 per square foot in Q3.

To read CBRE’s full 3Q Retail report and other 3Q Reports from CBRE in Phoenix and Tucson click here: https://www.cbre.com/en/research/Pages/default.aspx