Bob Pearlstein, with CB Richard Ellis Inc.'s Phoenix office, tells GlobeSt.com that construction on the plaza is set to be completed by October when Kohl's plans to open 10 stores throughout the Valley. Financial terms of the 20-year lease were not disclosed.
Located on the northeast corner of Dysart and McDowell roads, Alameda Crossing will house an additional 161,698 sf of retail space that Pearlstein said is expected to be occupied by several clothing stores and restaurants. The retail complex is being built by SunCor Development Co. of Tempe.
Pearlstein along with Dave Cheatham and Darren Pitts, also with CB Richard Ellis, negotiated the lease for the building owner. Kohl's Corp. of Menomonee, WI was assisted in the transaction by Greg Laing and Dan Gardiner, both from Phoenix Commercial Advisors.
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