Market Intelligence

Market Trend: Select Top Three Phoenix Retail Leases Signed in Q2 2013

Originally Published: CoStar Group

September 05, 2013

The select top retail lease signed during the second quarter of 2013 in the Phoenix market was at 1661 S. Alma School Rd. in the Red Mountain / Mesa Retail submarket. RoomStore Furniture renewed its 120,026-square-foot lease there in a direct deal with the landlord.

AMC Theaters leased 37,645 square feet at 730 S. Mill Ave. in the Tempe Retail submarket. SRS Real Estate Partners represented the landlord, while Phoenix Commercial Advisors represented the tenant.

Family Thrift Store leased 30,435 square feet at 4335-4343 W. Glendale Ave. in the Glendale Retail submarket. Phoenix Commercial Advisors represented the landlord.

In the first quarter, RoomStore Furniture leased 50,046 square feet at 555 N. Litchfield Rd. in the Goodyear Retail submarket.

This trend is compared to the U.S. National Retail largest lease signings occurring in 2Q 2013, which include the 255,000-square-foot-lease signed by Von Maur at Riverchase Galleria in the Birmingham market; the 200,000-square-foot-deal signed by Dillards at The Shops at Summerlin Centre in the Las Vegas market; and Nordstrom's 138,000-square-foot lease signed at Ridgedale Center in the Minneapolis market.

The information in this news report is based on CoStar’s Second Quarter 2013 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.