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YUMA, AZ-Old Navy and the Sports Authority have committed to their first stores in the city, signing five- and 10-year leases, respectively, for Yuma Palms Regional Center.
The Sports Authority will open in a 35,000-sf spot while Old Navy took 14,800 sf. Both retailers will be located in the 250,000-sf community center section of the one-million-sf Yuma Palms. Sports Authority is scheduled to open during the fourth quarter and Old Navy will be ready for business in April, says Todd Chester, a principal with Phoenix-based WDP Partners, which developed Yuma Palms.
Chester tells GlobeSt.com that the community center section of Yuma Palms is 95% leased now that Sports Authority and Old Navy are part of the tenant roster, which also includes Best Buy, Marshall's, Linens 'n Things, Ross Dress for Less, PetsMart, Famous Footwear and Kirkland's. The community center space is quoted at $12 per sf to $15 per sf.
Yuma Palms, positioned at the northeast corner of Interstate 8 and 16th Street, consists of an 800,000-sf regional mall, the community center and freestanding pad sites. The regional mall component opened last fall with JCPenney, Dillard's and Harkins Theaters leading the roster. The community center space will come on line in stages this year. Within 30 days, ground will break on a 135,000-sf Target and a 25,000-sf Jo-Ann Crafts store on tracts in front of the community center.
Darren Pitts of CB Richard Ellis Inc.'s Phoenix office represented Old Navy and Sports Authority used an in-house broker to bargain its terms. Greg Laing of Phoenix Commercial Advisors teamed with Chester to negotiate terms for WDP Partners.
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