Search
 

Performing Arts School Adds 14,603 SF

PHOENIX-A performing arts school nearly doubles in size after experiencing healthy student population increases during its first year in Deer Valley. The school extended its 10-year lease worth approximately $4.8 million, fully occupying a building in the Arizona Business Park.

By Lee Simmons | Updated on June 02, 2004

PHOENIX-The Arizona Conservatory for Arts and Academics’ recent student population increases have led to an increase of another kind–more square footage. The performing arts school has inked a 10-year lease extension for an additional 14,603 sf in the Arizona Business Park. Enrollment hikes prompted the school’s lease extension, enabling it to take the entire single-story, 46,817-sf building.

“It’s got good access off the freeway and it’s in a good residential area. The facility worked for them,” Eddy Moore of Grubb & Ellis/BRE Commercial based here, tells GlobeSt.com. The conservatory’s lease deal ranges from 70 cents to $1 per sf triple net, he notes adding that the total lease consideration was approximately $4.8 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.