David Glimcher, president of the Scottsdale, AZ-based company,says the $20-million project will go vertical in November, but it'salready 90% preleased. He expects the project will be 100% leasedwhen it opens in late 2008.
"This area of Chandler has been starved for new retail,"Glimcher explains. "Obtaining approvals can be somewhattime-consuming so when something comes on line in a new area, thereare people waiting to get in there." The development tract is beingbought from a Las Vegas investor.
Tenants committing to the space are Break Masters Inc., Club DelSol Tanning Inc., Country Kitchen International Inc., El Paso Bar BQue Co. Inc., Francis & Sons Auto Spa, Hungry Howie's Pizza& Subs Inc., Meshel's Salon, Tutor Time Learning Systems Inc.and Whataburger Restaurants LP. The quoted lease rate is $30 per sfto $35 per sf, triple net.
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