Reuters is reporting, economic planners in China have been striving to manage the country’s transition from a manufacturing economy to one that is more dependent on consumption.

China’s Government is encouraging its larger cities to build more shopping centers this year to meet the growing consumption demands of local residents, according to new government guidelines.

The Ministry of Commerce said on Saturday that it would encourage cities with a permanent resident population of more than 10 million to each build at least 10 “multi-functional” shopping centers this year, which could include childcare, entertainment and restaurants.

Cities with a permanent resident population of five to 10 million might build five such centers or more, it said in a statement posted on its website.

Without providing details, the government said it would offer assistance to retailers and investors to help them build such centers for consumers lacking sufficient places to shop.

Cranial Technologies’ lease at Tri-Pointe Plaza highlights this week’s lease report.

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from June 3 thru 7, 2019.

OFFICE – 6365 – 77 E. TANQUE VERDE RD., TUCSON
Cranial Technologies leased a 3,525-square-foot office space in Tri-Pointe Plaza, 6365-6377 East Tanque Verde Road from Interra Sky Tri-Pointe, LLC. Ian Stuart and Bruce Suppes of CBRE’s Tucson office represented the landlord and Lindsey Carlson of Colliers International represented the tenant. [mepr-show rules=”58038″]Asking lease rate: $17.50 SF/YR (Ask) Full Service Gross; Tenant Phone: 844.447.5894[/mepr-show]

OFFICE – 3657 E SUNRISE DR., TUCSON
First Citizens Bank and Trust Company leased a 2,450-square-foot office space located in La Paloma Corporate Center, 3567 East Sunrise Drive, Suite 219, from La Paloma Corporate Center, LLC. David Montijo and Jeff Casper of CBRE’s Tucson office handled the transaction. [mepr-show rules=”58038″]Asking lease rate: $26.00 SF/YR (Ask) Full Service[/mepr-show]

OFFICE – 4400 E. BROADWAY BLVD., TUCSON
I-Hope Medical Transportation Group, L.L.C., leased the property located at 4400 E. Broadway Blvd., Suite 403, Tucson, Arizona, consisting of 1,402 square feet of office space, from 4400 Broadway, LLC. Michael Gross of Tucson Realty & Trust Co. represented the Landlord in the transaction. [mepr-show rules=”58038″]Asking lease rate: $19.50 SF/YR (Ask) Full Service Gross; Tenant Phone: 520.305.3042[/mepr-show]

OFFICE – 899 N. WILMOT RD., TUCSON
Ken Lamm Physical Therapy, PLC, has leased 922 SF at 899 N. Wilmot Road, Suite D4 from Holland Arizona Investments, LLC.  Molly Gilbert of PICOR represented the Tenant and Lori Casey and Cameron Casey of Oxford Realty Advisors represented the Landlord in the transaction.  Physical therapy office and administrative uses. [mepr-show rules=”58038″]Tenant Phone: 520.275.9062[/mepr-show]

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PHOENIX, Ariz. – The Phoenix Kidder Mathews Healthcare Team represented the landlord in an 11,000-square-foot, 7-year lease for a national firm that provides autism therapy for families and children at 5859 W. Talavi Blvd., in Glendale, Arizona.

Kidder Mathews’ Senior Vice President Michael Dupuy and Vice President Rachael Thompson represented the landlord, Phoenix Heart, which is the owner and also a tenant in the building. The team negotiated a lease valued at $1.94 million in total consideration with Hopebridge Autism Therapy Centers, headquartered in Indianapolis, Indiana.

We have seen an increased demand in Glendale’s Arrowhead area over the past couple years,” Thompson said. “Larger blocks of space for medical are tough to come by here. The availability at this property was marketed 60 days prior to receiving a fully executed lease. One medical space remains.”

The property, built in 2000, sits among highly desired office and medical buildings at Arrowhead Ranch in Glendale. Its neighbors include Banner Health, Abrazo, Delta Dental and California Casualty. The building is located with frontage on 63^rd Avenue in Arrowhead.

“As a tenant and a landlord at this location, we look to strategically partner with other tenants,” said Phoenix Heart CEO Kyle Matthews. “We are thrilled to have Hopebridge as a tenant in the building and look forward to our relationship.”

The City of Glendale has been pro-active in attracting healthcare-related firms.

“This new facility will join our ever-growing healthcare industry by bringing much-needed services for families touched by autistic spectrum disorders,” said Glendale Mayor Jerry Weiers. “As someone who wakes up every morning with the goal of making a positive difference in someone’s life, I know that therapy services provided by Hopebridge will do just that. I’m incredibly proud they’re opening their first location right here in Glendale.”

Kyle Seeger of JLL represented Hopebridge.