Tyler Smith, with Grubb & Ellis/BRE Commercial tells GlobeSt.com that Equity One Inc. paid $134,869 to building owner, the Cavan Group for a three-year lease on a second-floor spec suite at 15333 N. Pima Rd. In a separate deal, Cactus Cash, a financial services company that is expanding in the Valley, signed a sublease for 4,719 sf at Camelhead Square. The company, which is presently located in about 14,000 sf at Biltmore Lakes in Phoenix, recently moved into the 3033 N. 44th St. Phoenix property, replacing former tenant Integreat Concepts Inc. of Phoenix, which is relocating to the Sky Harbor submarket, Smith says. In a below-market deal, the firm will pay about $250,000 for the three-year lease, he notes.
Besides Smith, Shawn Greenway and Stephanie Hickok, also with Grubb & Ellis/BRE Commercial, represented both Equity One and Cactus Cash in the leasing transactions. Steve Kohls of Lee & Associates Arizona brokered terms for the Cavan Group in the Raintree Corporate Center deal while Peter Menna with Grubb & Ellis/BRE Commercial represented Integreat Concepts Inc.
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