PHOENIX-Shea Commercial will roll out 10 office condo buildings, totaling 55,000 sf, and a 12,000-sf retail center on seven acres in the Superstition Springs neighborhood. Ground breaks in September.
FOUNTAIN HILLS, AZ-Sanair Products signs for 4,820 sf and Little Guy Distributing lines up 3,920 sf in the Mesa Industrial Center. Both leases have three-year terms.
PHOENIX-Karate for Kids picks up inline retail space in the Mountainview Marketplace in a relocation bid offering a 1,300-sf expansion option in an abutting suite. The three-year lease works out to $10.50 per sf.
TUCSON, AZ-A Van Nuys couple assumes responsibility for a 30-year, $12.4-million HUD loan and takes seats on the board of directors of a nonprofit organization to get control of the 93%-leased Columbus Village in the south-central submarket.
PHOENIX-The Minneapolis-based bank pencils in a new 4,800-sf branch with a 20-year lease for the hard corner of Tatum Boulevard and Loop 101 in the 40-acre Desert Ridge. US Bancorp plans to open in summer 2005.
PHOENIX-A local real estate firm pays about $1.3 million for the 8,664-sf Cielo Grande Plaza, a 30%-leased office building in the Camelback Corridor. With six deals on the table, the buyer gets aggressive over 3630 E. Campbell Rd. for an owner-user plan.
SCOTTSDALE, AZ-Piper Jaffray & Co. steps up for 15,022 sf in a 10.5-year lease for Portales Corporate Center in Scottsdale while Pinnacle One inks a six-year renewal for an 8,880-sf office in Tempe's Fountainhead Corporate Center.
PHOENIX-A plastic molds manufacturer is boxing for a move to 4636 N. 43rd Ave., taking over the entire class B industrial building with a seven-year lease and a $3-million payout. The building's been empty 1.5 years.
FLAGSTAFF, AZ-A Utah buyer purchases the Pineview Village Condominiums for $1.6 million, eyeing a long-term investment on a 20-year-old development. With only two units vacant at closing, the complex is poised to continue generating steady income.
PHOENIX-The Pepsi Bottling Group Inc. spends $4.1 million for the former headquarters of Sea Ray Boats Inc., ending nearly nine months of talks with a seller who's been waiting nearly two years for the right buyer to come along.