Phoenix Lease Report July 3-7, 2017

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The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from July 3 thru 7, 2017.

RETAIL – 4913 W BELL RD., GLENDALE, AZ
NAI Horizon negotiated a long-term retail lease on behalf of the landlord for American Freight Furniture at Bell Tower Village, 4913 W. Bell Rd., in Glendale, Ariz. The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek and Gabe Ortega and Associate Patrick Anthon represented New Bell Tower, LLC, of Greenwood, Colo., in the transaction that totaled $1.266 million.

American Freight Furniture, a discount furniture and mattress retailer, will occupy 25,700-square-feet at Bell Tower Village. Anchors at the neighborhood center include Walgreen’s, Harbor Freight Tools, and Planet Fitness. The tenant, American Freight of Tennessee, LLC, is from Delaware, Ohio.

“The new owners have been investing a substantial amount of money to rehab this center,” Tworek said. “The vision of the center was to take the failed restaurant concept and then combine the adjoining vacant space to create a mini-major space which was the original design of the shopping center.  “We were fortunate to come to terms with a furniture store that has 140 locations nationwide. That will help generate additional traffic into the shopping center and benefit co-tenants as well as the neighborhood,” Tworek said.

OFFICE – 1255 W BASELINE RD., MESA, AZ
A lease for 1,883-square-feet to LogIQ Escape Room was recently consummated.  The location of the property is 1255 W. Baseline Rd. in Mesa, AZ. The owner of the center is 1255 Baseline, LLC. Kevin Roessler of Rein & Grossoehme represented the Tenant and Jamie Swirtz of CBRE represented the Landlord.

OFFICE – 4904 S POWER RD., STE 105, GILBERT, AZ
Brian & Tom Woods of Colliers International represented Vestar, the landlord on a 5-year lease with Davis Chiropractic at Gilbert Gateway Towne Center, 4904 S. Power Road, Gilbert, AZ, 85230, Suite 105, for 1,500-square-feet.  Matt Bustamante of Realty One Group represented the Tenant.  Signed in June 2017.

RETAIL – 15620 N 35TH AVE., PHOENIX, AZ
A lease for 1,020-square-feet to MLS Arms, LLC was recently consummated.  The location of the property is 15620 N. 35th Ave. in Phoenix, AZ.  Nic Chavira of Rein & Grossoehme represented the Landlord and Tenant.

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