The following leases were reported to the Real Estate Daily News for the Phoenix Lease Report the week of March 9 thru 13, 2015.
INDUSTRIAL – 101 BUSINESS CENTER, PHOENIX, AZ.
ViaWest Group recently signed a 5-year lease renewal for approximately 18,000-square-feet with ITT Technical Institute at West 101 Business Center. The project, referred to as West 101 Business Center, is comprised of three Class-A office buildings totaling 118,853 SF and with this transaction and other recent activity the property is now 88% leased. Located just one block north of 95th Avenue and McDowell Road, West 101 Business Center is a conveniently positioned just minutes from the intersection of I-10 and Loop 101.
“ViaWest is excited to continue our long-term relationship with ITT. They have been a great tenant at the property and we look forward to working with them for many years to come,” said Danny Swancey, of the ViaWest Group. ITT Technical Institute has over 130 locations in 38 states across the U.S. ITT currently has four campuses throughout Arizona serving thousands of students annually.
“ITT was pleased to continue their lease at the building. The great West Valley location combined with the top-notch facilities were two very important factors in ITT’s decision. These characteristics, along with the great relationship between ViaWest and ITT, made the process easy,” said Andrew Cheney at Lee & Associates. Tyler Smith at Colliers International is the leasing broker for West 101 Business Center and continues to market the remaining 14,000 SF of vacancy. Andrew Cheney of Lee & Associates represented the Tenant.
OFFICE – 17851 N. 85th ST., SCOTTSDALE, AZ.
A Scottsdale air ambulance provider signed a multi-million dollar, 5-plus year oﬃce lease for 15,875-square-feet at The Pinnacle in Perimeter Center, 17851 N. 85th St. in Scottsdale. The transaction was signed on February 10. Lee & Associates principals Jim Watkins, Craig Coppola, Andrew Cheney and associate, Gregg Kafka negotiated on behalf of the owners, Lot 15 Oﬃce Development, LLC. Steve Cross of Cross CRE procured the tenant, Aviation West Charters LLC. The company is a premier global air ambulance provider specializing in long-range critical air medical transport. The Perimeter Center space will be the new location of the company’s administrative oﬃces. The Pinnacle in Perimeter Center is a 3-story, class A oﬃce building and is situated along the Loop 101 and Union Hills Dr. in the Scottsdale Airpark submarket. The building was constructed in 2006. The property features prominent freeway signage, 360-degree panoramic views of surrounding mountain ranges and 5 per 1,000 parking. It is nearby abundant amenities with over 50 restaurants within 2 miles of the center. It is located near other prominent corporate neighbors such as Taser International, Pulte Homes, Fender Guitar and GE Franchise Finance.
RETAIL – 1232 E. SOUTHERN AVE., MESA, AZ.
A lease for 1,220-square-feet at Copper Bell Plaza on the NEC Southern Ave & Stapley Dr in Mesa, AZ to MetroPCS was recently consummated. The owner of the center is Southern & Stapley Partners, LLC. Jared Lively of Rein & Grossoehme represented the Tenant and the Landlord on this transaction.