The following leases were reported to the Real Estate Daily News for the Phoenix Lease Report the week of June 29 thru July 3, 2015.

INDUSTRIAL – 1422 N. ELISEO C. FELIX WAY, PHOENIX
Cushman & Wakefield of Arizona, Inc. negotiated a long-term lease for the relocation of Monster Paint FX to 1422 N. Eliseo C. Felix Jr. Way. The lease is for 13,230-square-feet. Monster Paint FX, which previously was at 7115 N. 110^th Ave. in Glendale, is a locally owned company that provides custom auto body and paint work. “It took more than one and half years for us to find the right facility for Monster Paint,” said Keri Scott, Associate with Cushman & Wakefield’s Industrial Properties group. “It was important to not only find a facility that could accommodate their current needs but give them the ability to grow quickly and efficiently. I think we accomplished that with this facility.”   Scott represented Monster Paint FX in the transaction. The landlord is Denali National Trust XXV LLC of Scottsdale. The property is 100 leased with Monster Paint FX taking occupancy June 1.

RETAIL – 23706 S. POWER RD., QUEEN CREEK
Michael Gaida has leased 3,500-square-feet to a Mexican restaurant company owned by Noe & Abel Rodriguez at 23706 S. Power Rd. in Queen Creek.  The landlord, Grace Power & Chandler Heights was represented by Sperry Van Ness, LLC, in Phoenix.

OFFICE – 8767 E. VIA DE VENTURA, SCOTTSDALE
A lease for 3,498-square-feet at the Bay Colony Executive Center at 8767 E. Via de Ventura in Scottsdale, AZ to PassFort, Inc. was recently consummated. The owner of the center is Bay Colony Executive Center West, LLC. Jared Lively of Rein & Grossoehme represented the Tenant, and Scott Boardman of DTZ represented the Landlord.

RETAIL – 3402 E. THOMAS RD., PHOENIX
Michael Gaida has leased 3,240-square-feet to a mattress company, Mattress 2 Go at 3402 E. Thomas Rd., in Phoenix.  The landlord was represented by Sperry Van Ness, LLC, in Phoenix. The tenants were represented by Bernard Howard Realty.

OFFICE _ 1940 E. THUNDERBIRD RD., PHOENIX
Jonathan Levy, Justin Horwitz, and Nicole Ridberg has leased 2,064-square-feet to Douglas, Sheets, & Stremcha CPAs, LLC. at The Century Building, 1940 E. Thunderbird Rd. in Phoenix.  The landlord, MFP I, LLC was represented by Sperry Van Ness, LLC.

RETAIL – 1920 S. ALMA SCHOOL ROAD, CHANDLER
A lease for 1,807-square-feet in Germann Towne Center to Blackbird Music and Rentals was recently consummated. The location of the property is Germann and Alma School in Chandler, AZ. Blackbird Music has 2 other locations. Jim Edwards of Rein & Grossoehme represented the Tenant.

RETAIL – SWC 35^th AVE. and THUNDERBIRD, PHOENIX
A lease for 1, 800-square-feet at Thunderbird Square at the SWC of 35^th Ave. & Thunderbird Rd. in Phoenix, AZ to Thunderbird Laundry was recently consummated. The owner of the center is B.H. Chapman, LLC. Jared Lively of Rein & Grossoehme represented the Tenant and the Landlord on this transaction.

RETAIL – 842 E. INDIAN SCHOOL RD., PHOENIX
A lease for 1,760-square-feet was recently consummated with Addis Ababs Restaurant. The location of the property is 842 E. Indian School Rd. in Phoenix, AZ. Richard Mackay of Rein & Grossoehme Commercial Real Estate represented the owner and Roberto Amado-Cattaneo of Clear Commercial Advisors represented the tenant.

RETAIL – WEST POINT TOWNE CENTER, SURPRISE
A lease for 1,440-square-feet in West Point Towne Center to Daniel’s Original Mexican Food was recently consummated. The location of the property is east of the southeast corner of Bell Rd and Litchfield Rd (the Sprouts center) in Surprise, AZ. This is the first location for Daniel’s Original Mexican Food. Jim Edwards of Rein & Grossoehme represented the Landlord.

OFFICE – 8607 N. 59^th AVE., GLENDALE
Jonathan Levy and Nicole Ridberg has leased 961-square-feet at 8607 N. 59^th Ave in Glendale from NCC Glendale, LLC. The landlord was represented by Sperry Van Ness, LLC. In Phoenix.

RETAIL – 7346 – 7426 N. 51^st AVE., GLENDALE
A retail lease for 800-square-feet in Palms Plaza Shopping Center to Antojitos El Kike, LLC was recently consummated. The location of the property is 7346-7426 N. 51^st Ave. in Glendale, AZ. The owner of the center is RMM Orangewood Retail, LLC. Kevin Roessler of Rein & Grossoehme represented the Tenant and Jared Lively of Rein & Grossoehme represented the Owner.

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Phoenix, Arizona – Palm Plaza recently sold for $2.03 million ($80 PSF) to MDR Enterprises, Inc.  The Seller, Lee Center, LLC, was represented by Justin Horwitz and Jonathan Levy of Sperry Van Ness, LLC and Paul Christ of Encom Properties, LLC.

The Buyer was represented by John Oliver of Century 21 AZ Foothills.  Palm Plaza is located at 141 E. Palm Lane on 3rd Street just north of McDowell Rd. in the Midtown Phoenix submarket and consists of one free standing office building totaling +25,000-square-feet.

The Buyer acquired the roughly 85% occupied property as part of a 1031 exchange.

Horwitz said, “This sale of Palm Plaza is a prime example of a value adds investment.  We are very optimistic about the activity along the Central Corridor and we expect the influx of activity in this area to get rapidly stronger.”

Both Buyer and Seller were able to achieve their goals.  The Seller was able to complete its 1031 exchange into a property that had relatively good cash flow with future upside.  The Seller was able to pull equity out of its investment to put towards alternative ventures.

To learn more Horwitz and Levy can be reached through the Sperry Van Ness office in Phoenix at 480.425.5500 and Oliver should be contacted at 602.943.7252.

The following leases were reported during the week of October 6-10, 2014 to the Phoenix Lease Report:

RETAIL LEASES: 
Mary Ridberg and Rommie Mojahed of Sperry Van Ness Advisors represented the landlord at Arrowhead Festival Shopping Center in the 3,200-square-feet lease to Mattress 2 Go. Arrowhead Festival is located at 7260 W. Bell Road in Glendale Center. This center is fully leased.

Brennan Dental leased 2,907-square-feet of retail space at The Chandler Commons, located at 1919 E. Ray Road in Chandler. Erin Schrauth, Peter McQuaid and Greg Vanlerberghe of Sperry Van Ness Advisors represented the Landlord and Tanner Milne of the Menlo Group represented the tenant.

Michael Gaida and Trenton McCullough of Sperry Van Ness Advisors represented the landlord at Armed Forces Plaza, located at 6747 E. Thomas Road in Scottsdale, to lease 1,589-square-feet to Movement Restoration.

Shannon Simpson and James Alfter leased 900-square-feet of retail space at Bell Plaza, located at 1704-1730 W. Bell Road in Phoenix. Peter McQuaid and Greg Vanlerberghe of Sperry Van Ness Advisors represented the Landlord.

iINSUREme leased 630-square-feet of office space at Fiesta Crossing, located at 1660 S. Alma School Road in Mesa. Mary Ridberg Beau Flahart and Rommie Mojahed of Sperry Van Ness Advisors represented the landlord.

INDUSTRIAL LEASES:
Real Property Painting, Inc. leased 1,000-square-feet of industrial space at 505 W 8^th Ave, Suite 14 in Mesa at 8^th Ave & Alma School. Adrienne Bryant and Jonvieve Bryant of Bryant Commercial Real Estate in Tempe represented the tenant and Jack Scanlan with PRIN Investments represented the landlord

OFFICE LEASES: 
Miner Southwest leased 19,603-square-feet of office space at Tempe Southern Business Center, located at 1155 W. Southern Avenue in Tempe. Nicole Ridberg of Sperry Van Ness Advisors represented the tenant in the 63 month lease.

Justin Horwitz and Nicole Ridberg of Sperry Van Ness Advisors represented the landlord at Rome Towers, located at 1760 E. Pecos Road in Gilbert, to lease 6,000-square-feet of office space to New Direction Fertility. The tenant was represented by Tom Wienhold of Cassidy Turley.

Justin Horwitz of Sperry Van Ness Advisors represented Tempe Business Consultants in the leasing of 2,701-square-feet of office space at Scottsdale Northsight. The office building is located at 14350 N 87th Street in Scottsdale.

Greg Acedo – State Farm Insurance leased 1,500-square-feet at 2720 E Thomas Road, Suite B-190 in Phoenix. Adrienne Bryant and Jonvieve Bryant of Bryant Commercial Real Estate in Tempe represented the landlord, Freeport Investments and the tenant.

OnPoint Underwriting, Inc. leased 2,195-square-feet of office space at 7010 E. Chauncey Lane in Scottsdale. Justin Horwitz of Sperry Van Ness Advisors represented the landlord in the transaction.

West Valley Behavioral Health leased 788-square-feet of office space at The Citadelle at Arrowhead Ranch, located at 19420 N. 59th Avenue in Glendale. Justin Horwitz and Jonathan Levy of Sperry Van Ness Advisors represented the tenant.

Submit all sales and leases to REDailyNews@outlook.com.