This week’s Tucson Lease Report highlights an office lease renewal in Sierra Vista for 9,733 SF handled by Oxford Realty Advisors of Tucson.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from July 22 thru 26, 2019.

OFFICE – 55 SOUTH 5TH STREET, SIERRA VISTA, AZ
Easter Seals Blake Foundation has extended their lease of 9,733-square-feet at 55 South 5^th Street, Sierra Vista, from Judd Family Trust. Lori Casey and Doug Marsh of Oxford Realty Advisors negotiated on behalf of the Tenant a new lease extension.

RETAIL – 5975 WEST WESTERN WAY, TUCSON
Susan & Derick Brown leased approximately 1,560-square-feet of restaurant space located at 5975 West Western Way, Suite 109, from Trinum Properties, LLC. Frank Arrotta of Tucson Realty & Trust Co. represented both the Landlord and the Tenant in the transaction.

OFFICE – 3931 E. PARADISE FALLS, STE 103, TUCSON
Westland Resources, Inc. has leased 3,905-square-feet at 3931 E. Paradise Falls, Suite 103, from Chase Group, LLC. Lori Casey and Doug Marsh of Oxford Realty Advisors represented the Tenant and Bruce Suppes and Ian Stuart of CBRE represented the Landlord in the transaction.

RETAIL – 6437 N ORACLE RD., TUCSON
Renewal Wellness, LLC, leased the property located at 6437 N. Oracle Road, Tucson, Arizona, consisting of 1,851-square-feet of retail space, from Orange Grove Village, LLC. Hank Amos of Tucson Realty & Trust Co., represented the Tenant and Craig Finfrock of Commercial Real Estate Advisors, LLC, represented the Landlord in the transaction.

RETAIL – 8501 E 22ND STREET, TUCSON
Keith Fowlkes & Tara Baca, dba K & T Treasures Thrift Store, leased approximately 500-square-feet of retail space located at 8501 East 22nd Street, Tucson, Arizona, from Shawn R. Abrahams. Frank Arrotta of Tucson Realty & Trust Co. represented both the Landlord and the Tenant in the transaction.

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PHOENIX, ARIZONA — NAI Horizon represented a national insurance provider in a pair of long-term leases at The Reserve at San Tan and Fiesta Tech Business Park in Gilbert, Arizona.

NAI Horizon Senior Vice President Isy Sonabend represented Progressive Casualty Insurance Co. of Mayfield Heights, Ohio, in two new lease signings totaling $4.18 million.

Progressive Casualty Insurance is occupying 25,193-square-feet at The Reserve at San Tan, 339 E. Germann Road, a 105,000-square-foot office/flex building in the highly sought-after Southeast Valley submarket. The new space will serve as a claim center.

Progressive is also occupying 42,149-square-feet at Fiesta Tech Business Park, 1395 N. Fiesta Blvd., a 73,283-square-foot building. Progressive plans to use this space for a training center. Fiesta Tech Business Park is located in the Gilbert submarket, which was ranked among the fastest growing cities in the U.S. It is less than one mile from the US 60 and Loop 101.

“To better serve their customers, Progressive Insurance has enlarged its footprint in Gilbert by expanding service and data centers in the Southeast Valley,” Sonabend said.

The Reserve at San Tan is within walking distance to Crossroads Towne Center which comprises more than 1.2 MSF of retail amenities including more than 32 restaurants. It is an ideal location for back office employment with access to more than 1 million people within a 30-minute commute. It features a full diamond interchange at San Tan Freeway (Loop 202) and Gilbert Road.

Reserve at San Tan 4 LLC of Phoenix, was represented by Mike Garlick of Newmark Knight Frank. AEI Fiesta LLC of Los Angeles was represented by Evan Koplan of CBRE.

TUCSON, Ariz. — The Place at Riverwalk is leasing their brand-new luxury apartments quicker than they can build them.  Well ahead of their leasing projections, MC Companies was confident the combination of premium product in a premium location would be in high demand in the Tucson market.  The incredible momentum of the projects lease-up has proven them correct at the property located at 3510 N Craycroft Road, at Craycroft and River Roads in Tucson.

The Place at Riverwalk is MC Companies’ newest development and features 210 urban-suburban style, luxury apartments.  Perfectly located at the base of the Catalina Foothills off Craycroft and East River Rd, it is in walking distance of Natural Grocers, Whole Foods and BASIS Tucson North.  “We knew this was a special location long before we ever broke ground on Riverwalk,” says Ross McCallister, Principal of MC Companies.  “Our residents at Riverwalk enjoy exquisite homes and community amenities, and we couldn’t be happier with the performance of our newest MC development.”

The Place at Riverwalk officially opened their office doors on May 1^st, 2019 and is slated to have all construction completed by mid-November of this year.  As of July 10^th, Riverwalk surpassed the 50% occupancy threshold with 115 apartments homes leased.

If you are looking for one of Tucson’s most premier apartment communities to be your new home, you can’t afford to miss The Place at Riverwalk.  Give them a call at (844) 388-7749 or visit them at www.ThePlaceatRiverwalk.com.