The 66-month sublease, valued at $290,000, will give the swimming pool giant several thousand additional feet of storage at a good lease rate, Jerry Jacobs, Cushman & Wakefield of Arizona Inc., tells GlobeSt.com. Jacobs, who negotiated the deal for Leslie's, said the firm will take over space formerly occupied by Puritan Medical Products Inc., which closed it's doors earlier this year.
"It came down to the location and the rate," Jacobs said of the tenant's motivation. "Being a sublease, it was a more attractive deal."
The freestanding building, owned by Bama Associates LLC, of Phoenix, features a truck well with rear roll-up doors and a fenced yard, he said. Jacobs, along with Ted Harrison, also with Cushman & Wakefield handled talks for Leslie's Swimming Pools. Tom Louer of Phoenix-based Lee & Associates Arizona negotiated the deal in behalf of Puritan Medical Products.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
