The 66-month sublease, valued at $290,000, will give the swimming pool giant several thousand additional feet of storage at a good lease rate, Jerry Jacobs, Cushman & Wakefield of Arizona Inc., tells GlobeSt.com. Jacobs, who negotiated the deal for Leslie's, said the firm will take over space formerly occupied by Puritan Medical Products Inc., which closed it's doors earlier this year.
"It came down to the location and the rate," Jacobs said of the tenant's motivation. "Being a sublease, it was a more attractive deal."
The freestanding building, owned by Bama Associates LLC, of Phoenix, features a truck well with rear roll-up doors and a fenced yard, he said. Jacobs, along with Ted Harrison, also with Cushman & Wakefield handled talks for Leslie's Swimming Pools. Tom Louer of Phoenix-based Lee & Associates Arizona negotiated the deal in behalf of Puritan Medical Products.
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