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10-Year Tenant Re-Ups for Five More Years

PHOENIX-Arthrocare Arthritis Care & Research goes from sublease to direct lease after making a decision to expand at 3330 N. 2nd St. in the central corridor. The 5,417-sf lease carries a value of $588,760 over its term.

By Beverly Ford | Updated on January 21, 2003

PHOENIX-An arthritis treatment and research center has inked a five-year, $588,760 lease on 5,417 sf of office space in a deal that will allow the clinic to remain in the central Phoenix medical office building where it’s been located for the last 10 years.

Arthrocare Arthritis Care & Research had been subleasing the space at Osborn Plaza from ITW Mortgage Investments II Inc. when the firm decided to expand its medical offices, Trevor Klinkhamer, a managing director with Insignia/ESG in Phoenix, tells GlobeSt.com. “They wanted to expand and do a new lease so we negotiated a new five-year deal,” said Klinkhamer, who represented the building owner in the transaction.

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