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Sports Retailer Stays in Glendale

GLENDALE, AZ-Cleats Inc. signs a five-year lease for 8,493 sf in the Arrowhead Plaza after 18 months of subleasing the retail space from CVS Pharmacy. The deal has a $450,000 payout over the term.

By Lee Simmons | Updated on July 30, 2004

GLENDALE, AZ-Sports retailer Cleats Inc. of Glendale holds firm to 8,493 sf, subleased for 18 months from CVS Pharmacy, by signing a direct deal for five years at a $450,000 payout over the term for the Arrowhead Plaza space.

“They had done their own TIs when they moved in on their sublease and had quite a few dollars invested in those improvements. They had built their identity and recognition and they really didn’t want to move,” Steve Bodeman, an executive vice president with GVADaum Commercial Real Estate Services in Phoenix, tells GlobeSt.com about the 20165 N. 67th Ave. location.

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