PHOENIX-The Assistance League of Phoenix will convert the 8,370-sf building at 9224 N. 5th St. into a distribution and retail center. The property, on the market for about a year, will complement the main store along North 7th Street.
PHOENIX-Four new tenants sign leases over the past 60 days to fill about 160,000 sf in the 25th Street office park, from which American Express pulled out of a 270,000-sf lease in June.
PHOENIX-Transwestern Commercial Services' aggressive marketing closes four deals to help ease the 270,000-sf hit from American Express' walk-out in June. All are long-term deals and all got good rates, say the brokers.
PHOENIX-The selling price breaks down to $73,846 per unit for the 195-unit Acappella along Seventh Street. When the price works, the owner sells, says seller SNK's vice president. The exchange was mortared with an $11-million loan from Prudential.
PHOENIX-Ryder Logistics and the Manning Group, a furniture distributor, reserve about 28,000 sf in the Martin Van Buren Business Park. Each long-term lease is valued at $258,968. They are filling vacant Sleep America space.
PHOENIX-Equus Realty Advisers takes the deed to its 10th property in four years. The eight-building Valley Commerce Center, totaling 240,000 sf, is primed for repositioning. Equus has a definite plan in hand to boost occupancy above the current 78%.
PHOENIX-After 18 months of being on and off the market, a 44,374-sf building on 5.6 acres sells to a Nevada-based investment firm. The long-term tenant, 24 Hour Fitness, plus the Camelback Corridor location drove the sale.
PHOENIX-The Desert Sky Esplanade, due to deliver in January 2002, is down to 8,000 sf in two spots. Party City signs for 12,000 sf of anchor space while Washington Mutual and AT&T sign 4,000 sf apiece.
PHOENIX-Washington Mutual and Paine Webber expand their offices at the Camelback Corridor landmark, which also rolled five newcomers onto the tenant roster. Washington Mutual picked up an extra 7,222 sf and Paine Webber, 2,500 sf.
PHOENIX-EastGroup Properties quickly accepted the offer from a local limited liability company. The buyer simply liked the 38,469-sf, multi-tenant building, its location and long-term hold opportunity.