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Tucson Lease Report Aug. 14 – 18, 2017

Tucson Lease report 3-13-16
Tucson Lease Report Aug. 14 – Aug. 18, 2017

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from Aug. 14 thru Aug. 18, 2017.

RETAIL – 1325 E. FLORENCE BLVD., CASA GRANDE
Spirit of Halloween has leased a 40,000-square-foot space at Tri Valley Plaza, located at the SE corner of Florence Blvd. and Colorado Rd., in Casa Grande Arizona. The Premises will be used for the retail sale of Halloween related merchandise and related products and services. They are scheduled to open for business August 2017.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Cameron Warren of Phoenix Commercial Advisors, represented the Tenant.

RETAIL – 7200 E. BROADWAY BLVD., TUCSON
Skechers has leased a 17,929-square-foot space at Circle Plaza Shopping Center, located at the SE corner of Broadway Blvd. and Kolb Rd. The Premises will be used for the retail sale of men’s, women’s and children’s footwear, apparel and accessories. They are scheduled to open for business January 2018.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Leslie J. Mayer, Greg Furrier and Adam Madison of Cushman & Wakefield represented the Tenant.

RETAIL – NW CORNER of FIRST AVE., & WETMORE RD., TUCSON
Spirit of Halloween has leased a 7,133-square-foot space at Tucson Place Shopping Center, located at the NW corner of First Ave. and Wetmore Rd. The Premises will be used for the retail sale of Halloween related merchandise and related products and services. They are scheduled to open for business August 2017.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Cameron Warren, of Phoenix Commercial Advisors, represented the Tenant.

INDUSTRIAL – 2251 N. DRAGOON ST., TUCSON
TuSimple leased 6,865-square-feet of industrial space at 2551 N. Dragoon Street in the Center Pointe Commerce Center. TuSimple a Chinese company with more than $20 million in recent backing will bring as many as 100 engineering jobs to Tucson as it develops driverless commercial trucks.  Pat Welchert of ALPHA represented the tenant. Tim Healy and Robert DeLaney of CBRE represented the landlord, Lilly Investment Group LLC, in the transaction.

RETAIL – SW CORNER of BROADWAY BLVD. & CRAYCROFT RD., TUCSON
Phenix Salon Suites has leased a 4,881-square-foot space at The Plaza at Williams Centre, located at the SW corner of Broadway Blvd. and Craycroft Rd. The Premises will be used as an upscale salon and spa facility that subleases suites within the Premises to independent beauty and spa professionals, and for ancillary beauty related purposes. They are scheduled to open for business March 2018.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Darren Pitts and Bonnie Arlia of Velocity Retail Group, LLC represented the Tenant.

RETAIL – 8816-8820 E. BROADWAY BLVD., TUCSON
Wings Over Broadway leased 4,800-square-feet of space for their restaurant at 8816-8820 E. Broadway in the Broadway East Plaza.  Kevin Volk of Volk Co. represented the tenant. Pete Villaescusa and Jesse Peron of CBRE represented the landlord, Broadway East Plaza, LLC, in the transaction.

OFFICE- 5151 E. BROADWAY BLVD., TUCSON
Rightsure Insurance leased 4,388-square-feet of office space at 5151 E. Broadway.  David Volk and Bruce Suppes of CBRE represented the tenant.  Rick Kleiner of Cushman Wakefield | PICOR represented the landlord, KCI-Broadway LLC, in the transaction.

OFFICE – 180 W. MAGEE RD., TUCSON
Thompson Hunt & Associates, Ltd. leased approximately 2,200-square-feet of office space located at 180 W. Magee Road, Suite 110, Tucson, Arizona, from WVLC, LLC. Michael Gross and Doug Richardson of Tucson Realty & Trust Co. represented the Landlord in the transaction.

RETAIL – NW CORNER of FIRST AVE., & WETMORE RD., TUCSON
Years Asian Bistro & BBQ has leased a 2,069-square-foot space at Tucson Place Shopping Center, located at the NW corner of First Ave. and Wetmore Rd. The Premises will be used as a sit down and carry out Asian restaurant. They are scheduled to open for business December 2017.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker.

OFFICE – 190 W. MAGEE RD., TUCSON
Beyond Bookkeeping, LLC, leased approximately 2,003-square-feet of office space located at 190 W. Magee Road, Suite 182, Tucson, Arizona, from WVLC, LLC. Michael Gross, Doug Richardson and Frank Arrotta of Tucson Realty & Trust Co. represented the Landlord in the transaction.

OFFICE – 1 W. WETMORE RD., TUCSON
Gary R. Repovsch, CPA, P.C., leased 1,940-square-feet at 1 W. Wetmore Rd., Suite 107 in Tucson, from Issa and Henrietta Hallaq. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  David Montijo with CBRE, Inc. represented the tenant.

RETAIL – 5420 E. BROADWAY BLVD., TUCSON
Nothing Bundt Cakes has leased 1,835-square-feet of space at The Plaza at Williams Centre, located at the SW corner of Broadway Blvd. and Craycroft Rd. The Premises will be used as a bakery selling bundt cakes, cupcakes and related products and services. They are scheduled to open for business August 2017.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Greg Stanislawki, of Retail Strategy Real Estate Group, represented the Tenant.

OFFICE – 6303 E. TANQUE VERDE RD., TUCSON
Abbott Media Productions, LLC, leased approximately 1,669-square-feet of office space located at 6303 E. Tanque Verde Road, Suite 201, from 6303 Tanque Verde, LLC. Michael Gross of Tucson Realty & Trust Co. represented the Landlord and Isaac Figueroa of Picor Commercial Real Estate represented the Tenant in the transaction.

RETAIL – 3017 E. SPEEDWAY BLVD., TUCSON
Boost Mobil leased 1,495-square-feet of retail space from Mahoney Family Partnership.  The new location will be in Speedway Center, 3017 E. Speedway Blvd., on the northwest corner of Speedway Blvd. and Country Club Rd. in Tucson.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

INDUSTRIAL – 3755 E. 34th ST., TUCSON
Thrive and Grow Gardens leased 1,400-square-feet at 3755 E. 34th St., Suite 113 in Tucson, from Rodgers Investment Fund, II, LP.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and the tenant in this transaction.

RETAIL – 3615 W. ORANGE GROVE RD., MARANA
Vapors has leased a 1,200-square-feet space at Marana Marketplace, located at the SE corner of Orange Grove Rd. and River Rd. in Marana. The Premises will be used as a retail store selling vape and electronic cigarettes and related products. They are scheduled to open for business August 2017.  Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker, while Jeramy Price, of Volk Company, represented the Tenant.

INDUSTRIAL – 3860 S. PALO VERDE, TUCSON
Total Mobility & Accessibility of Arizona leased 1,182-square-feet of industrial space at 3860 S. Palo Verde. Tim Healy and Robert DeLaney of CBRE represented the tenant. Rob Glaser and Paul Hooker of Cushman Wakefield | PICOR represented the landlord, Palo Verde Trust Partners, in the transaction.

RETAIL – 1830 E. BROADWAY BLVD., TUCSON
Sprint Cellular leased 1,100-square-feet of retail space from Broadway Tucson Investors, LLC.  The new location is in Marketplace On Broadway, 1830 E. Broadway Blvd., at the southwest corner of Broadway Blvd. and Campbell Ave. in Tucson.  Greg Furrier and Rob Tomlinson, Retail Specialists with Cushman & Wakefield | PICOR, handled this transaction.

OFFICE – 6640 N. ORACLE RD., TUCSON
Dr. Tejaskumar Patel leased 1,049-square-feet of office space at 6640 N. Oracle Road. Jay Brosky of Remax represented the tenant. Jeff Casper of CBRE represented the landlord, Northpoint Village Centre LLC, in the transaction.

OFFICE – 4560 E. BROADWAY BLVD., TUCSON
Mary Jane Pringle leased 214-square-feet of office space in Midstar Plaza, 4560 E. Broadway Blvd., Suite 212 in Tucson, from Midstar Partners, LLC. Isaac Figueroa, Office and Investment Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

RETAIL – 2363 E. FRY BLVD., SIERRA VISTA
Unique Body Balance has leased a space at Cochise Plaza, located at the NE corner of Fry Blvd. and Coronado Rd. in Sierra Visa, Arizona. The Premises will be used as an office providing counseling, massage and therapeutic services. They are scheduled to open for business July 2017.   Andy Seleznov and Melissa Lal represented the Landlord, Larsen Baker.

 

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Tucson Lease Report July 24-28, 2017

Tucson Lease report 3-13-16
Tucson Lease Report July 24-28, 2017

The following commercial leases were reported to the Real Estate Daily News for the Tucson Lease Report from July 24 thru 28, 2017.

RETAIL – BROADWAY & WILMOT, TUCSON
Spirit Halloween Superstore, LLC will occupy 21,535-square-feet just east of Park Place Mall at the southwest corner of Broadway Boulevard and Wilmot Road. The landlord, K-GAM Broadway Wilmot, LLC, was represented by CBRE’s Nancy McClure.

RETAIL – 5975 E BROADWAY BLVD., TUCSON
Another Spirit Halloween Superstore’s location will occupy 18,382-square-feet in the Saguaro Shopping Center at 5975 E. Broadway Boulevard. The respective property landlords, KGAM Saguaro Properties, LLC; Indy-House, LLC and Tiburon, LLC, were represented by CBRE’s Nancy McClure.

INDUSTRIAL – 4617 S. CONTRACTORS WAY, TUCSON
Arizona Laminate leased 15,489-square-feet at 4617 S. Contractors Way in Tucson, from Scaramella Family Revocable Trust.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Peter Canacakos with Long Realty Company represented the tenant.

RETAIL – 4625 N ORACLE RD., TUCSON
Spirit Halloween Superstore’s third location will occupy 13,845-square-feet at 4625 N. Oracle Road, across the street from the Tucson Mall. The landlord, Daniel Beringhause Trust was represented by CBRE’s Nancy McClure. Torrey Briegel with Phoenix Commercial Advisors represented the tenant in all three Spirit Halloween Superstores transactions

RETAIL – 4505 and 4521 E. 22nd ST., TUCSON
Discount Warehouse leased 5,435 square feet of retail space at 4505 and 4521 E. 22nd St. in Tucson, from RRN, Inc.  Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  Jeramy Price with Volk Company represented the tenant.

OFFICE – 2945 W INA ROAD, TUCSON
US Healthworks of AZ Inc. leased 5,257-square-feet of office space at 2945 W. Ina Road in Russell Plaza. David Montijo and Damian Wilkinson of CBRE Tucson, as well as Paul Stockwell of CBRE Los Angeles, represented the tenant. David Volk and Bruce Suppes of CBRE represented the landlord, 2945 West Ina Road, LLC, in the transaction.

OFFICE – 6565 E. CARONDELET DR., TUCSON
SMSJ Tucson Holdings, LLC renewed their lease with Tucson 6565 Medical Properties, LLC for 2,868-square-feet of medical office space at 6565 E. Carondelet Dr., Suite 265, in Tucson.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.  David Montijo with CBRE, Inc. represented the tenant.

INDUSTRIAL – 2341 S. FRIEBUS AVE., TUCSON
Assured Document Destruction, Inc. leased 1,725-square-feet at 2341 S. Friebus Ave., Suite 10 in Tucson, from Friebus Investors, LLC.  Rob Glaser, SIOR, CCIM, and Brandon Rodgers, CCIM, Principal with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 6890 E. SUNRISE DR., TUCSON
Club Pilates Tucson Foothills leased 1,636-square-feet in Ventana Village Shopping Center, located on the southwest corner of E. Sunrise Dr. and N. Kolb Rd in Tucson, from Arneill Ventana, LLC.  Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR represented the tenant in this transaction.  Dave Hammack with Volk Company represented the landlord.

RETAIL – 7090 N ORACLE RD, TUCSON
Koorey Creations leased 1,500-square-feet of retail space at 7090 N. Oracle in the Plaza Escondida Shopping Center. Jesse Peron and Pete Villaescusa represented the landlord, M Knott LA Toscana, LLC, in the transaction.

OFFICE – 5422 S 12TH AVE., TUCSON
Jeramy Price of Volk Company represented the landlord, Unrein Investments LLC, in a lease of 1,450-square-feet at 5422 South 12th Avenue to Gabriel Yamez for his limousine service and photography studio.

INDUSTRIAL – 3780 E. 44th ST., TUCSON
Curbside Consulting, LLC, leased 1,100-square-feet at 3780 E. 44th St., Suite 102 in Tucson, from RR44, Inc. Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and the tenant in this transaction.

RETAIL – 1525 N. WILMOT RD., TUCSON
Level Cup Coffee and Boba has leased 1,060-square-feet at 1525 N. Wilmot Road, for a 5-year term, from Dorado Center Tucson, LLC.  Robert J. Nolan of Oxford Realty Advisors handled the transaction.

INDUSTRIAL – 2112 N. DRAGOON ST., TUCSON
Steam Smart Pro leased 1,000-square-feet at 2112 N. Dragoon St., Suite 23 in Tucson, from Rich Rodgers South, Inc.  Max Fisher, Industrial Specialist with Cushman & Wakefield | PICOR, represented the landlord and the tenant in this transaction.

OFFICE – 1701 W. ST. MARY’S RD., TUCSON
Grossman & Grossman, Ltd. leased 667-square-feet of medical office space in Century Medical Plaza, 1701 W. St. Mary’s Rd., Suite 117 in Tucson, from Healthcare Realty Services Incorporated.  Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

OFFICE – 1200 N. EL DORADO PL., TUCSON
STAR Consulting of Arizona, Inc. leased 256-square-feet of office space in El Dorado Square, 1200 N. El Dorado Pl., Suite H-820B in Tucson, from El Dorado Ventures, LLC. Tom Nieman, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord in this transaction.

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Fiesta Mercado in South Tucson sells to TIC Investors for $7.75 Million

Fiesta Mercado, 2920-2980 S 6th Ave., South Tucson, AZ

TUCSON, Arizona – A group of California and Wyoming investors came together in a 1031 TIC (tenants-in-common) to purchase the Fiesta Mercado Shopping Center at 2920-2980 S 6th Avenue in South Tucson for $7.75 million ($94 PSF). The 82,367-square-foot grocery story anchored center is located off I-10 and 6th Avenue, and was 82% occupied at time of sale.

Fiesta Mercado is anchored by a 47,835-square-foot Food City grocery store, a subsidiary of Basha’s Inc. which opened its first store in Arizona in 1932, founded by brothers Ike and Eddie (Sr.) Basha. The company now serves every county in Arizona with 130 stores under the brands of Bashas’, A.J.’s Fine Foods and Food City.

  • Food City specializes in high quality, Mexican foods, offering a full array of ethnic and Hispanic food varieties. Many stores offer both tortillerias and pharmacies. Bashas’ continues to be family-owned and operated. Food City has been serving the Arizona community for over 60 years and was purchased by Bashas’ in 1993.
  • Rent-A-Center began with eight stores in 1986, Rent-A-Center (NASDAQ:RCII) is now the largest rent-to-own operator in the U.S. with an approximate 34% market share based on a store county of 2,863. Rent-A-Center has a market capitalization of ±$1.79 billion and annual revenue of ±$2.33 billion.

Other tenants in the center include:

  • Casa Lee, a clothing boutique specializing in both men’s and women’s clothing along with jewelry and other accessories. Casa Lee has a second location at the Fry’s Shopping Center at I-19 and Ajo Way.
  • TitleMax of Arizona has been providing the residents of South Tucson at this location since 2011 and offers fast cash for car and motorcycle loans.
  • Jackson Hewitt Tax Service, Inc. (NYSE:JTX) is the second largest tax preparation service company in the United States, with over 6,800 company -owned offices in 49 states and DC and is a privately held company.
  • Little Caesar’s Pizza, the fourth largest pizza chain in America, was founded in 1959 in suburban Detroit by Mike and Marian Illitch, whose family still owns and operates the business. The company consists of approximately 2,850 company-owned and franchised locations around the U.S. and on 5 other continents.
  • Casa de Nails is a locally owned nail salon offering a full line of nail services, including manicures, pedicures and acrylics.
  • Montanos Fashion, a highly acclaimed bridal store in the Tucson area that carries quality bridals dresses, formal dresses and supplies and a vast selection of tuxedos for men.
  • The Primavera Foundation, a local nonprofit, providing pathways out of poverty through safe, affordable housing, workforce development and neighborhood revitalization. Primavera provides sustainable homeownership opportunities in Tucson.
  • Express Location is a leading premium retailers provider of T-Mobile USA with 129 locations throughout the western states.
  • El Coco Loco is a local Mexican food restaurant with a great reputation for authentic Mexican food serving the South Tucson area.
  • Wingstop, a national food chain that in the “flavor business” not just the wing business. Wingstop is the destination when you crave fresh wings and their famous sides!

Chad Tiedeman, John Schweikert and Dan Gardiner with Phoenix Commercial Adivisors handled the sale for buyers and seller, Fiesta Mercado ST, LLC of Fountain Hills, AZ (Garo Demirjian, member).

Gardiner told us the property sold stabilized at market cap rate with a value-add component for the investors in the vacancy. It was a good match for both buyer and seller.

Premiere Commercial Management of Phoenix has been retained to manage the center.

For more information, Tiedeman can be reached at 602.288.3472, Gardiner should be contacted at 602.734.7204 and Schweikert is reachable at 602.957.9800.

To learn more, login and see RED COMP #4971 and for more properties like this, see RED Listing Registry.