Potbelly Sandwich Shop will hold its official grand opening of its first location in Tucson, Tuesday, June 3^rd, 5545 E. Broadway Boulevard, #103 in Tucson, in the recently-renovated and now 100% leased center anchored by Hobby Lobby and Stein Mart at the northeast corner of Broadway & Craycroft.

Nancy McClure, First Vice-President of CBRE in Tucson handled the 100% lease-up for the landlord. Zach Pace of Phoenix Commercial Advisors represented Potbelly in this transaction.

Photos shown were taken Monday at the company’s invitation-only “soft opening”.  McClure told us, she thinks the place looks great. “They had a fleet of people behind the counter and the crowd flowed well with a line that started out the door,” said McClure.

Potbelly Sandwich Shops have their humble beginnings from an antique store, long before the sandwiches were toasted and cookies were on straws. There was a young couple who owned an antique shop on Lincoln Avenue in Chicago, Illinois. This quirky shop of memories was doing well, but the determined couple knew they could always do better.

They decided to start serving lunch to their curious, collecting customers. As time passed the “little antique shop that could” was slowly turning into quite the lunchtime getaway, complete with toasty warm sandwiches, homemade desserts and even live music.

Then in 1996, an ambitious, entrepreneurial young man named Bryant Keil bought the original store in Chicago, Illinois. Together with his team, Bryant set out to spread the Potbelly love across the country, creating shops with the same neighborhood feel as the original.

Today, the magic continues with more than 280 Potbelly Sandwich Shops in neighborhoods around the country.

In addition to the Broadway location, a second Potbelly Sandwich Shop will open soon at 1031 N Park Avenue, south of Speedway on Park in Tucson.

McClure should be reached at (520) 323.5117 for more information.

The following leases were reported to us during the week of May 26-30, 2014 for the Phoenix Lease Report:

FLEX OFFICE – 4747 N 22^ND STREET, PHOENIX
Dell, Inc. has renewed an existing 12,303-square-foot lease at 4747 N. 22^nd St. in Phoenix, Ariz. CBRE’s Kevin Calihan represented the tenant. The landlord, Anchor Center II, LLC, was represented by Judy Tucker with Camroad Properties.

INDUSTRIAL – 16681 84^TH AVE, PEORIA
RMRM, LLC has leased 7,910-square-feet of industrial space at Antigua Corporate Center located at 16681 84^th Ave. in Peoria, Ariz. Mitch Stravitz, Cooper Fratt, John Werstler and Jerry McCormick of NAI Horizon represented the landlord, First Arrowhead Commerce Center, LLC. The tenant was represented by Tom Keck with West USA Realty.

RETAIL – 1725 N DYSART ROAD, AVONDALE
Chris Gerow, Shelby Tworek, and Gabe Ortega of NAI Horizon represented the landlord, Alameda Venture, LLC, in a 3.5 month retail lease transaction for a 7,500-square-foot space at 1725 North Dysart Road in Avondale, AZ. Torrey Briegel with Phoenix Commercial Advisors represented the tenant, Spirit Halloween Superstores, LLC.

INDUSTRIAL – 580 N 54^TH STREET, CHANDLER
DNB Engineering, Inc. has leased 5,435-square-feet of industrial space at 10 Chandler Business Park located at 580 N. 54^th St. in Chandler, Ariz. Mike Parker, Evan Koplan and Mark Krison with CBRE’s Phoenix office represented the tenant. The landlord, North 54^th Street Venture, LLC, was represented by James Harper with Cassidy Turley.

OFFICE – 12515 W BELL ROAD, SURPRISE
Wells Fargo Tenant Advisors has renewed a 5,000-square-foot lease for office space at 12515 W. Bell Rd. in Surprise, Ariz. Kevin Calihan with CBRE’s Phoenix office represented the tenant. The landlord, Nellis Family Investments, LLC, was represented by Alan Davidson with Eagle Commercial Realty Services.

OFFICE – 14350 N 87^TH STREET, SCOTTSDALE
Cumming Construction Management, Inc. has leased 4,876-square-feet of office space at 14350 N. 87^th St. in Scottsdale, Ariz. CBRE’s Kevin Calihan represented the tenant. The landlord, Miref Northsight, LLC, was represented by Sean Spellman with Cushman & Wakefield. This marks an expansion for the international project and cost consulting firm.

OFFICE – 3131 E CAMELBACK ROAD, PHOENIX
Pathlight Investors has leased 4,067-square-feet at 3131 E. Camelback Rd. in Phoenix, Ariz. Kevin Calihan with CBRE’s Phoenix office represented the tenant. Ray Harris with Cassidy Turley represented the landlord, Lincoln Property Company. The lease marks an expansion for the investment advisory firm.

RETAIL – 1815 E ELLIOT ROAD, TEMPE
Chris Gerow, Shelby Tworek, and Gabe Ortega of NAI Horizon represented the landlord, R&D Operations, LLC, in a 10 year retail lease transaction for a 3,500-square-foot space at 1815 East Elliot Road in Tempe, AZ. The tenant was Biscuits AZ, LLC.

OFFICE – 9051 W KELTON LANE, PEORIA
Tom Bean and Troy Giammarco of NAI Horizonrepresented the tenant, CAH Subsidiary REIT, Inc., in a 40 month office lease transaction for a 2,879-square-foot space at 9051 West Kelton Lane in Peoria, AZ. DJ Bean and Franklin Connell with Cutler Commercial represented the landlord, The Hill Trust.

INDUSTRIAL – 6005 S 40^TH STREET, PHOENIX
Mike Myrick of NAI Horizon represented the tenant, Switch Suspensions, in a 28 month industrial lease transaction for a 2,700-square-foot space at 6005 South 40^th Street in Phoenix, AZ. Langdon Bridges with Commercial Properties, Inc. represented the landlord, Arizona Industrial Properties.

RETAIL – 21141 N JOHN WAYNE PKWY, MARICOPA
Chris Gerow, Shelby Tworek, and Gabe Ortegaof NAI Horizon represented both the landlord, LNR Partners, and the tenant, JB Subs, Inc. in a 10 year retail lease transaction for a 2,600-square-foot space at 21141 North John Wayne Parkway in Maricopa, AZ.

RETAIL – 15410 S MOUNTAIN PKWY, PHOENIX
Holly Brock of NAI Horizon represented the tenant, Alpha Elite Fitness, LLC, in a 5 year retail lease transaction for a 2,400-square-foot space at 15410 South Mountain Parkway in Phoenix, AZ. Mike Duffy with ESCEE Commercial Properties represented the landlord, BaMa Mountain Parkway, LLC.

RETAIL – 2665 E BROADWAY ROAD, MESA
Chris Gerow, Shelby Tworek, and Gabe Ortegaof NAI Horizon represented the tenant, Metro of Arizona 3, Inc., in a 40 month retail lease transaction for a 1,700-square-foot space at 2665 East Broadway Road in Mesa, AZ. The landlord was Lindsey Marketplace, Inc.

RETAIL – 3627 E INDIAN SCHOOL ROAD, PHOENIX
Barbara Lloyd and Thomas Bean of NAI Horizon represented the landlord, Gaslight Square Retail, LLC in a 18 month retail lease transaction for a 1,593-square-foot space at 3627 East Indian School Road in Phoenix, AZ. John Williams and Joseph Orlandi with Homesmart represented the tenant J & J Real Estate Holding, LLC.

OFFICE – 40 WEST BASELINE ROAD, TEMPE
Barbara Lloyd and Thomas Beanof NAI Horizon represented the landlord, Presson Corporation, in a 24 month office lease transaction for a 1,558-square-foot space at 40 West Baseline Road in Tempe, AZ. The tenant was Unity Communications.

OFFICE – 10603 N HAYDEN ROAD, SCOTTSDALE
Peggy Johnson of NAI Horizonrepresented the landlord, Hayden Park, Inc., in a 9 month office lease renewal transaction for a 1,506-square-foot at 10603 North Hayden Road in Scottsdale, AZ. The tenant was Luke Jacobsen, DDS.

RETAIL – 1334 E APACHE BLVD., TEMPE
Chris Gerow, Shelby Tworek, and Gabe Ortegaof NAI Horizon represented the tenant, Metro of Arizona 2, Inc., in a 40 month retail lease transaction for a 1,400-square-foot space at 1334 East Apache Boulevard in Tempe, AZ. The landlord was Central Plaza, LLC dba Apache Central Center.

RETAIL – 1840 W SOUTHERN AVE., MESA
Chris Gerow, Shelby Tworek, and Gabe Ortega of NAI Horizon represented the tenant, Metro of Arizona 4, Inc., in a 3 year retail lease transaction for a 1,200-square-foot space at 1840 West Southern Avenue in Mesa, AZ. The landlord was Wiley Family, LLC.

RETAIL – 3312 N 3^RD STREET, PHOENIX
Peggy Johnson NAI Horizon represented the landlord, JTR Casa Real LLC, in a 25.5 month retail lease transaction for an 850-square-foot space at 3312 North 3^rd Street in Phoenix, AZ. The tenant was Tiffany Hamby-Harthcock.

Redyns Development LLC of Tucson (Harold Snyder, manager) bought a 15,000-square-foot office building at known as Fountains Plaza at 2070 W Rudasill Road in Tucson for $4.3 million ($287 PSF) in an all-cash transaction.

Fountains Plaza is a single-story medical office center (built 1998) consisting of approximately 14,976-rentable-square-feet on 1.47 aces. The building is 100% occupied by US Oncology on an Absolute NNN lease through December 2014. The tenant has recently remodeled their premises and expanded their leased space to the entire building. US Oncology is affiliated with over 1,000 physicians operating in more than 440 locations including 90 cancer centers and radiation facilities in 39 states.

The building is strategically located on the Northwest Medical Center campus which is a 300-bed, full service hospital with 1,800 employees.

David Montijo and Michael Sandahl of CBRE in Tucson represented the sellers, an investment group formed by Don Bourn, Fountains Medical Plaza Investors LLC of Tucson and BP Fountains Plaza LLC (Toufic Abi-Aad and Don Bourn, members).

The investor was represented by Russ Hall and Steve Cohen of Cushman & Wakefield of Tucson.

Montijo can be reached at (520) 323-5136 and Sandahl is at (520) 323-5115. Hall should be reached at (520) 546-2747 and Cohen is at (520) 546-2750, for more information.

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[mepr-show rules=”58038″]Sale date: 5/1/2014. Sale price: $4,291,776. All cash deal. Property sold with a 7% cap rate.[/mepr-show]