OFFICE SPACE – 707 N MAIN AVENUE, TUCSON
Max Medical Solutions, Inc. a medical device sales company, owned by Jeffrey and Jennifer Bell of Tucson, leased 5,000 sq. ft. at 707 N. Main Avenue in Tucson, from Main Avenue Ventures, LLC.  Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR Commercial Real Estate Services, handled the transaction.

RETAIL SPACE – 4811 E GRANT RD, STE 141, TUCSON
Amy’s Hallmark will reopened their 4,418 sq.ft. space at Crossroads Festival, located on the northeast corner of Grant Rd. and Swan Rd in Tucson. Amy’s specializes in the sale of greeting cards, party supplies, gift wrap and related products and services. Hallmark will do a complete interior renovation before reopening for business in August 2013.  Andy Seleznov and Melissa Lal, represented the Landlord, Larsen Baker

RETAIL SPACE – 4470 N 1ST AVENUE, TUCSON
Los Betos Mexican Food leased a 2,250 sq. ft. at Riverfront Village, 4470 N. 1st Ave. in Tucson located just north of Wetmore Rd. Los Betos is a Mexican style fast food restaurant and leased the space formerly occupied by Big Juan’s Tacos Y Burros, also a Mexican food restaurant. Andy Seleznov and Melissa Lal represented the landlord, Larsen Baker.

RETAIL SPACE – 5460 E SPEEDWAY BLVD. STE 102, TUCSON
Ella 6 Salon leased 1,210 sq. ft. at Craycroft Plaza, 5460 E Speedway Blvd. Ste 102 in Tucson. Craycroft Plaza is located on the southwest corner of Speedway Blvd and Craycroft Road. Ella 6 Salon is a full service men and womens’ hair salon that also sells related products and services. Andy Seleznov and Melissa Lal, represented the landlord, Larsen Baker.

To submit sales and leases please email [email protected]

A recent report from Cushman & Wakefield indicates a stong correlation is found between U.S. retail sales and U.S. industrial leasing activity.

We know retail sales measure economic activity in the economy and thus serve as an important indicator of economic health.  But, only those retail categories subject to the state’s transaction privilege (general sales) tax are included in the retail sales data produced by the Arizona Department of Revenue. For example, sales of food items at grocery stores that are not taxed by the state are not included.

The state Department of Revenue reports consumer spending is up to prerecession levels based on April sale tax receipts, covering March spending in Arizona, in fact up by a large 8.2% increase from the same period a year earlier, with taxable sales of $4.78 billion in March 2013. Monthly data for Arizona becomes available approximately two months after the sales were made to allow time for adjustments, as retailers sometimes report late and multi-establishment retailers sometimes misreport sales by county.

The Cushman & Wakefield research shown in the above graph indicates that industrial leasing activity in markets where they track have followed the U.S. retail sales closely year over year since 2000.  Industrial leases exceeded retail sales from 2000 – 2007, and as retail sales dropped in 2008 – 2009 industrial leases trended in the same direction.

According to the the Tucson Cushman & Wakefield / Picor industrial report for Q1 2013, “for the first time in two full years, the Tucson market had consecutive quarters of significant positive absorption… with lease activity fairly broad based”.  To view the full Q1 2013 Tucson Industrial report click here.

Economists with the Arizona Department of Revenue have stated April collections are typically high, with spring training and winter visitors still around. But it should also be noted that this spending increase is still on top of the record set last April for March sales. It seems to all be trending in the right direction and something to keep an eye on.

For the full Cushman & Wakefield “US Retail Sales vs. Industrial Industrial Leasing Activity” report  click here.

RETAIL SPACE – 657 HWY 90, SIERRA VISTA

C-A-L Ranch Stores, Inc., of Idaho Falls, Idaho leased 72,436 sq.ft. and Hobby Lobby leased 54,811 sq. ft. at the former Walmart store vacant since 2010 in Plaza Vista Mall, 657 Hwy 90 in Sierra Vista. C-A-L Ranch Stores, offers a mix of merchandise including ranch and farm supplies, livestock, equine, pet feed and accessories,  work & western apparel and footwear as well as shop equipment, tools, hardware, lawn & garden supplies and a broad range of outdoor sporting goods. C-A-L recently opened its twenty-first location in Show Low and has announced plans to open additional stores in Laveen and Casa Grande markets during the third quarter of 2013. Other Arizona locations include Prescott and Flagstaff.

The company was founded in 1959 by Clinton Murphy, Allen Murphy and L.Wayne Murphy, thus the initials “C-A-L” in its brand and operates in Idaho, Utah, Nevada and Arizona with a Distribution Center in Payson, UT. While the company is no longer owned by the Murphy’s, the company is still privately held.

Jake Ertle of Rein & Grossoehme Commercial Real Estate Services in Scottsdale represented the landlord, LNR Property Corporation. Neil Board with Western Retail Advisors of Phoenix and Bryan Ledbetter of ZELL Commercial Real Estate Services in Phoenix jointly represented C-A-L Ranch. David Leathers of DE Johnson & Associates in Northbrook, IL represented Hobby Lobby. C-A-L Ranch plans to open in Sierra Vista first quarter of 2014 and Hobby Lobby plans to open fourth quarter 2013.

TENTATIVE LEASE RETAIL SPACE – 5625 E RIVER ROAD, TUCSON

Petco has requested bids for TIs as it considers a move to the 13,000 sq. ft., former Walgreens, in RiverCenter at Craycroft and River, 5625 E River Road in Tucson. The new space would be used to relocate the current Petco at 4625 N Oracle Road according to a Petco representative, but the lease on the new space has not been finalized with the landlord, Larsen Baker at this time. The contractor for Petco, Division II Construction has asked for sub bids to be returned by 5/30/13.

OFFICE SPACE – 100 N STONE AVENUE, STE 110, TUCSON

Tucson’s Gangplank, a non-profit collaborative workspace opened this week in 8,000 sq. ft. and another 2,000 sq. ft. of undeveloped space in the basement planned for audio and video studios at the Pioneer Building, 100 N Stone Ave, Ste 110 in Tucson.  Focused on economic and community development, Gangplank seeks to unite the creative class, bringing together diverse minds to create something greater than the individual and drive entrepreneurship and civic engagement. The move was made possible by the building owner, Holualoa Companies of Tucson, who donated the facility’s rent for the first six months. The Tucson office is one of four Gangplank locations in Arizona. The non-profit also just opened faciites in Sault St. Marie, Ontario, Canada and Richmond, VA.

INDUSTRIAL SPACE –  4700 S PARK AVE, TUCSON

Amarr Garage Doors, a North Carolina-based manufacturer of garage door systems (Richard Brenner, CEO) leased 7,878 sq. ft. at 4700 S Park Avenue from Ohio Street Building No. 2, LLP. Rob Glaser of Cushman & Wakefield / Picor Commercial Real Estate Services represented the landlord. Fred London of The Meridian Group, Inc. represented the tenant.

OFFICE SPACE – 3275 W INA ROAD, TUCSON

THM Publishing of Tucson leased 992 sq. ft. of office at 3275 W Ina Road in Tucson from Caldor Investments of Arizona. Tom Nieman of Cushman & Wakefield / Picor Commercial Real Estate Services handled the transaction.

To submit sales or leases please email to [email protected]