The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from November 7 thru 11, 2016.
RETAIL – 16435 N. SCOTTSDALE RD., SCOTTSDALE
Velocity Retail Group’s Darren Pitts and Dave Cheatham represented Old Navy (a division of Gap, Inc.), in a lease at the Scottsdale Promenade shopping center located at the southeast corner of Frank Lloyd Wright and Scottsdale Road. The 11,008-square-foot store is celebrating their grand opening beginning November 9, 2016. The shopping center is owned by an entity controlled by Excel Trust, L.P. and represented by Mike Ord of the D.L. Slaughter Co.
The Scottsdale Promenade shopping center has over 566,000-square-feet of retailers including Nordstrom Rack, Sacks Off 5th, Ulta Beauty and Steinmart. Old Navy is strategically located adjacent to Nordstrom Rack.
“Old Navy has served their customers in this shopping center since 1999 and will continue to provide great value and fashion trends in this new location within the same shopping center,” said Pitts, executive vice president at Velocity Retail. Cheatham and Pitts have worked with Gap Inc. since 1994, and were part of the initial roll-out of the Old Navy brand in Arizona. Today Old Navy is one of the largest apparel brands in the world, operating more than 1,000 stores across the US, Canada, Puerto Rico & Japan.
RETAIL – 8041 N. BLACK CANYON HWY., PHOENIX
A Retail Lease for 8,893-square-feet within The Camp at Black Canyon at 8041 N. Black Canyon Hwy. in Phoenix, AZ to United HealthCare Urgent Care was recently consummated. The owner of the center is BKM Black Canyon 103, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and Tyson Switzenberg with JLL represented the Tenant on this transaction.
RETAIL 28243 N. TATUM BLVD., PHOENIX
A restaurant lease for 5,869-square-feet within Dynamite Creek shopping center at 28234 N. Tatum Blvd. in Phoenix, AZ to Tailgaters Sports Bar and Il Primo Pizza. was recently consummated. The owner of the center is Dynamite Creek, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and Brad Balbo of SRS Real Estate represented the Tenant on this transaction.
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