The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from November 9 thru 13, 2015.

INDUSTRIAL – 4521 E. REX ST., TUCSON
Global Instant Air, Inc. leased 5,000-square-feet at 4521 E. Rex St. in Tucson from TKW Properties, LLC.  Paul Hooker, Stephen D. Cohen and Russell W. Hall, SIOR, GSCS, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.37 SF/MO NNN; Tenant Phone: 520.329.8132[/mepr-show]

INDUSTRIAL – 3755 E. 34^th ST., TUCSON
Cactus Bowling Company, Inc., dba Vantage Bowling Centers, leased 3,500-square -feet at 3755 E. 34^th St., Suite 111 in Tucson from Rodgers Investment Fund, II, LP.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and Pete Villaescusa with CBRE, represented the tenant in this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.60 – 0.65 SF/MO  Modified Gross[/mepr-show]

OFFICE – 7856 E. WRIGHTSTOWN, TUCSON
KML Enterprise Career Development, LLC, leased approximately 3,500-square-feet of office space located at 7856 East Wrightstown Road, from Piazza San Lorenzo, LLC.  Doug Richardson and Terry Lavery of Tucson Realty & Trust Co. represented the Landlord and Ted Liles and Mike Gordon of Cresa Phoenix represented the Tenant in the transaction. [mepr-show rules=”58038″]Tenant Phone: 714.712.1000[/mepr-show]

OFFICE – 500 N. GARDEN AVE., SIERRA VISTA
KML Enterprise Career Development, LLC, leased approximately 3,500-square-feet of office space located at 500 N. Garden Avenue, Sierra Vista, Arizona, from Piazza San Lorenzo, LLC.  Doug Richardson and Terry Lavery of Tucson Realty & Trust Co. represented the Landlord and Ted Liles and Mike Gordon of Cresa Phoenix represented the Tenant in the transaction. [mepr-show rules=”58038″]Asking lease rate: $16.00 SF/YR NNN; Tenant Phone: 714.712.1000[/mepr-show]

RETAIL – 7856 E. WRIGHTSTOWN, TUCSON
Lasagna and More LLC, leased 2,400-square-feet at 7856 East Wrightstown Road. The space is located within Catalina Village Shopping Center at the southwest corner of Wrightstown and Pantano Road. The landlord, GSMS 2005-GG4 Wrightstown Road, LLC, was represented by Jake Ertle of Rein & Grossoehme. Kevin Volk of Volk Company represented the tenant Lasagna and More LLC. [mepr-show rules=”58038″]Asking lease rate: $21.00 SF/YR NNN; Tenant Phone: 520.603.8171[/mepr-show]

INDUSTRIAL – 3755 E. 34^th ST., TUCSON
Bear Brothers Roofing, LLC, leased 2,100-square-feet at 3755 E. 34^th St., Suite 109 in Tucson from Rodgers Investment Fund, II, LP.  Brandon Rodgers, CCIM, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction. [mepr-show rules=”58038″]Asking lease rate: $0.60 – 0.65 SF/MO  Modified Gross[/mepr-show]

RETAIL – 1350 W. IRVINGTON RD., TUCSON
Dance it! Studio renewed their lease with T&R Investments & Building, LLC and expanded to 1,869-square-feet in River Front Plaza at 1350 W. Irvington Rd. in Tucson.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, handled this transaction. [mepr-show rules=”58038″]Tenant Phone: 520.954.6123[/mepr-show]

RETAIL – 2500 N. SILVERBELL RD., TUCSON
Massapequa Associates LLC, leased 1,305-square-feet at 2500 North Silverbell Road, Suite 170, to Compass Bank for a BBVA Compass bank location. The space is located within Silverbell Plaza at the northeast corner of Grant and Silverbell. The shopping center is anchored by Safeway and Walgreens. Jesse Peron of CBRE represented the tenant. Dave Hammack of Volk Company represented the landlord.

RETAIL – 7872 N. ORACLE RD., TUCSON
Lucky Cat Social Art LLC, leased 1,250-square-feet at 7872 North Oracle Road. The space is located within Plaza Escondida at the southwest corner of Oracle and Magee. The landlord, Roseville Tucson, LLC, HJ Tucson, LLC, Rielly Tucson, LLC, Obradovich Tucson, LLC, and Fair Oaks Tucson, LLC, was represented by Jesse Peron of CBRE. Kevin Volk of Volk Company represented Lucky Cat Social Art LLC.

RETAIL – 180 W. CONTINENTAL RD., GREEN VALLEY
George Boughan, D.D.S. leased 1,241-square-feet from Continental Green Valley Associates, LLC.   The retail space, suite 168, is within Continental Shopping Plaza located at 180 W. Continental Rd. in Green Valley, Arizona. Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord and the tenant in this transaction. [mepr-show rules=”58038″]Asking lease rate: $21.00 SF/YR NNN; Tenant Phone: 520.334.7995[/mepr-show]

OFFICE – 2221 E. BROADWAY BLVD., TUCSON
Eric Avdee, leased 520-square-feet at 2221 East Broadway Boulevard, Suite 203. The landlord, New Dekel LLC, was represented by Dave Montijo, Ian Stuart, and Damian Wilkinson of CBRE. Kevin Volk of Volk Company represented Eric Avdee. [mepr-show rules=”58038″]Asking lease rate: $10.00 SF/YR Full Service; Tenant Phone: 520.615.8400[/mepr-show]

Brings landmark Camelback Corridor project to 96 percent leased

PHOENIX, AZ– Phoenix Children’s Hospital has committed to a 27,265-square-foot office lease at Biltmore Commerce Center, a Class A Camelback Corridor office building that was purchased just months ago by office investment and management expert Lincoln Property Company (LPC) and a fund managed by Oaktree Capital Management, L.P. (Oaktree). The company will move into Biltmore Commerce Center next month, bringing the project to 96 percent occupied.

The is the first lease new deal signed by the building ownership, which purchased Biltmore Commerce Center as part of more than $165 million in Phoenix-area investment activity in the early months of 2015.

“PCH was looking for a location close to its main hospital that could provide office-specific space for its growing administrative and executive functions. With its location and efficiencies, Biltmore Commerce Center fit that bill precisely,” said Lincoln Property Company’s Vice President Amr Ceran.“We are very pleased to welcome PCH to our tenant mix, and look forward to putting this project’s full advantages to work for them.”

Under the lease, Phoenix Children’s Hospital will ultimately occupy 27,265 square feet of space – a full wing on the project’s second floor. They will use the space for executive offices and for administrative functions including human resources and accounting.

Scott Maxwell of CRESA represented Phoenix Children’s Hospital in the lease negotiations. Lee & Associates’ Bill Blake, Craig Coppola, Andrew Cheney and Colton Trauter represented the landlord.

LPC has also completed a number of lease renewals at the project since its purchase, including Extreme Consulting and Strategy Wealth Management.

Located at 3200 E. Camelback Rd., on the northeast corner of Camelback Road and 32 Street in Phoenix’s prominent Camelback Corridor, Biltmore Commerce Center is known for its Alucobond® metal panel exterior and highly visible, street-facing water feature. The project totals three stories and 259,000 square feet, with efficient floorplates and an 11,000-square-foot, newly remodeled three-story atrium running through the interior first floor. It also includes ground-level parking and subterranean parking that provides quick and direct access to all tenant floors via two separate elevator banks.

Additional project renovations and features include remodeled corridors and lobbies, upgraded landscaping and the new street-facing water feature. The property has earned an average 94-point Energy Star rating over the past six years. In 2012, it was named The Outstanding Building of the Year (TOBY) by the Building Owners and Managers Association (BOMA).

The project sits across the street from two retail projects, with numerous dining, shopping and business services options.

“This is a true landmark Phoenix property, with the full support of LPC’s more than 50 years of asset and project management expertise behind it,” said LPC Director of Management Services Alisa Timm, who directs the project’s property management strategy. “Amenities like the central atrium and high-tech touches give it the power to remain at the top of the market.”

With the Phoenix Children’s Hospital lease, Biltmore Commerce Center is now almost 96 percent leased to a broad group of tenants including HDR Engineering, Coamerica, Lee & Associates, United Way, Greystar, North American Title Company, DeRito Partners and Miller Russell & Associates.

LPC is now under construction on a first-floor, 4,600 speculative office suite at the project, with estimated completion in late July. This, along with one additional 6,241-square-foot suite on the third floor, makes up the last available space at Biltmore Commerce Center. For additional leasing information or to discuss investment opportunities, please contact David Krumwiede or Amr Ceran at (602) 912-8888.

DLS, DHL, Pilot commit to massive business park

PHOENIX, AZ– Just as Airport I-10’s 600,000-square-foot Phase I approaches completion, Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have announced the signing of three major, national tenant leases that bring one of the largest speculative office projects in Phoenix history to more than 35 percent pre-leased.

The new tenants at Airport I-10 include:

• DLS Worldwide, a major, volume-leveraged third-party logistics provider, leasing 78,843 square feet in Building B for a new headquarters, light manufacturing, assembly and distribution facility.
• DHL, the world’s leading postal and logistics group, leasing 40,529 square feet in Building E for a regional parcel delivery hub.
• Pilot Freight Services, a worldwide provider of transportation and logistics services, leasing 31,824 square feet in Building E for centralized pick-up and delivery service operations.

JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and JLL Associate Kyle Westfall represented Wentworth/Clarion in all three leases. Mike Gordon of Cresa represented DLS. John Werstler, Jerry McCormick and Cooper Fratt of CBRE represented Pilot. Jim Wilson of Cushman & Wakefield represented DHL.

The new leases join with a 63,470-square-foot pre-lease completed by JLL in mid-2014 with Anixter International, Inc., a leading global distributor of enterprise cabling and security solutions, electrical and electronic wire and cable, and OEM supply fasteners and other small parts.

Inclusive of Anixter, this brings JLL’s new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project’s three-building, 600,000-square-foot Phase I at 35 percent leased, before construction is even finalized.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” said Harlan. “They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix’s industrial distribution network. We couldn’t be more pleased with the companies that have committed to space here,” said Wentworth Property Company Principal James R. Wentworth. “They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket’s best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five Class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.

To learn more go to https://www.airporti10.com/