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 35^TH 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. 35^th Ave. in Phoenix, AZ.  Nic Chavira of Rein & Grossoehme represented the Landlord and Tenant.

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PHOENIX, Arizona – CBRE Group, Inc. completed the sale of Southern Business Center, a 39,244-square-foot office property, located at 777 W. Southern Ave. in Mesa, Ariz. The property commanded a sale price of $3 million ($76.44 PSF).

Jamie Swirtz with CBRE’s Phoenix office negotiated the transaction on behalf of the seller, Tempe, Ariz.-based Saia Family Limited Partnership. David Barrett, with CBRE’s Phoenix office, represented the buyer, Phoenix-based NATIVE HEALTH.

NATIVE HEALTH, a Federally Qualified Health Center and Urban Indian Health Program, provides primary medical, dental, behavioral health, WIC and wellness programs for all individuals. NATIVE HEALTH will be opening a third clinic beginning with community outreach services and wellness programs summer 2017. NATIVE HEALTH currently operates two community health centers and an Information and Referral center in Phoenix.

“Expanding NATIVE HEALTH to the East Valley will allow for easier access to primary care for the growing American Indian/Alaska Native population in the east valley,” said Walter Murillo, CEO of NATIVE HEALTH. “We are committed to giving patients complete integrated care in a setting where they feel welcome.”

The single-story, office building is located on the southest corner of Extention Road and Southern Avenue with proximity to public transportation lines,  Loop 101 and the U.S. 60. It is situated in Mesa’s Fiesta District, which has seen a surge in activity since the City of Mesa rebranded the district and made enhancements to the streetscape and landscape.

“Southern Business Center presented a unique opportunity for NATIVE HEALTH to expand in an area that has been going through an exciting transformation,” said Swirtz. “With extensive redevelopment to the Fiesta District underway, the property is well-positioned at the center of an emerging East Valley business district.”

Phoenix, AZ – CBRE has announced the signing of a ±16,380-square-foot office lease at 4435 E. Holmes Avenue in Mesa, Arizona. Practice Management Specialists, a local business service provider for dental practices, will relocate its corporate headquarters to the newly leased building at the end of this year.

Jamie Swirtz with CBRE’s Phoenix office negotiated the long-term lease on behalf of the landlord, Sunny Mesa, Inc. of Mesa. Rommie Mojahed with Sperry Van Ness represented the tenant.

“It was exciting work with a growing firm like Practice Management Specialists,” said Swirtz. “It’s great to see local companies scaling up and we were able to structure a lease term that will accommodate the company’s long term growth plans.”

Practice Management Specialists currently operates out of a smaller office space at 4704 E. Southern Avenue in Mesa. The Mesa-based outsourcing firm is relocating to accommodate recent growth and will take over the entire building on Holmes Avenue. The firm expects to hire approximately 60 new employees in the coming months.

“It is always exciting to see local businesses expand and add jobs here in Mesa,” Mayor John Giles said. “Congratulations to Practice Management Specialists, I wish them the best of success in their new headquarters.”

According to CBRE Research, while the overall metropolitan office market continues to hover around 20 percent vacant, the Mesa submarket is steadily improving. As of Q3 2015, East Mesa recorded a vacancy of 14.7 percent and downtown finished the quarter at 14.2 percent.

“Mesa has seen an increase in tenant activity in the last few quarters. Companies are starting to look to Mesa as a cost-effective community,” said Swirtz. “Average asking rates in Mesa are at $17.00 a square foot. Employers also recognize the city offers a strong labor pool and quality transportation system. I expect the increased activity to continue for the foreseeable future.”