Larry Ortega with Colliers International tells GlobeSt.com that the drug store chain recently signed a 20 year lease with two five year options on a store currently being constructed at the northwest corner of 83rd Avenue and Thunderbird Road. Terms of that lease were not disclosed.
The 86,000 sf parcel was purchased for the drug giant by Hamilton Hunt, of Tampa, FL, in a $1.2 million deal with K&Y 101Thunderbird LLC of Santa Clara, CA, Ortega said.
The site will be among nine new stores opened by Eckerd by the end of the year.
"We have a lot of dots on the map," Ortega said of Eckerd's push into the Phoenix market.
Along with the Thunderbird and 83rd Avenue store, Eckerd also has stores under construction in Phoenix at 55th Ave and Bell Road, 48th Street and Chandler Boulevard, Central Avenue and Dunlop, and at Scottsdale Road and Shea Boulevard, Tatum and Shea, Scottsdale Road and Ashler, all in Scottsdale Priest and Baseline roads in Tempe, Val Vista Road and Chandler Boulevard in Gilbert, and Cave Creek and Carefree Highway in Cave Creek.
Ortega represented Hunt in the land sale deal while Bob Pearlstein with CB Richard Ellis handled the negotiations for the seller, K&Y 101Thunderbird LLC.
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