PHOENIX-Mentor Health, a provider of health services to people with developmental disabilities and brain injuries, signs a five-year lease for 17,706 sf in the Central Park Forest complex in uptown Phoenix.
PHOENIX-Six years after starting lease negotiations with families of the Salt River Reservation, developers are now close to breaking ground on phase one of the 209-acre Pima Center--320,000 sf of industrial and 250,000 sf of office space. Total build-out will eventually offer up to four million sf of mixed-use commercial space in the business park.
PHOENIX-Universal Technical Institute signs lease worth $1.3 million for 10,083 sf in the Deer Valley Office Plaza. The institute has provided training in automotive, diesel and industrial technology since opening its first campus in Phoenix 39 years ago.
SCOTTSDALE, AZ-J. Walters Construction Co. purchases nearly three acres for development of a 25,000-sf retail strip center in a plan for a yearend delivery. The Kansas City developer acquires the site from Treaccer Realty of Scottsdale.
TEMPE, AZ-Baroness Wines signs a three-year lease with a $159,000 pay-out over the term for a warehouse and distribution facility in Tempe. In a one-week turnaround, the winemaker gets an air-conditioned, US distribution hub.
PHOENIX-S&M Moving Systems signs a one-year lease for $300,000 in the 300-acre Papago Business Center in the southwest submarket. The third-party logistics company handles warehouse duties for Intel's Chandler division.
YUMA, AZ-Strong traffic, a planned regional mall nearby and an abundance of adjacent retail all help seal the deal on a $4.4-million purchase of a 10,015-sf Golden Corral restaurant. The local buyer uses 1031 Exchange capital to help close the deal.
TEMPE, AZ-Nature's Pack and a startup medical distributor, Wholesale LLC, are neighbors in a three-building industrial complex with a quoted rent of 50-cents triple net. Each tenant committed with a three-year lease.
PHOENIX-Local investors put down just under $3 million for a 24,000-sf flex building in North Phoenix. The deal is one of a few of its kind since combination retail and warehouse properties are in short supply and high demand.
PHOENIX-The architectural millwork services company finalizes a $1.4-million plan to lease and then purchase a 33,962-sf industrial building in the Hewson Westside Business Park. The company plans to exercise the purchase option by the end of the year.