The 190,677-sf Campbell Plaza, located on 11 acres in the 2800block of North Campbell Avenue, is 76.5% leased with the new deal.Staples' 10-year lease backfills a long-dark theater. The quotedrate is $18 per sf, triple net, but "the Staples deal is a turnkeyoperation and delivery so it's a different animal," says NancyMcClure, first vice president with CB Richard Ellis' Tucson office.She and CBRE associate Shannon Murphy represented the center'sowner, Camelback Corporate Center Joint Venture LLC, which hascorporate offices in Phoenix and Tucson.

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McClure adds the deal includes substantial tenant improvements."This has relatively deep space and we're squaring it off," shesays.

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McClure tells GlobeSt.com that Staples is expected to open asecond Tucson location in 2009, but that's all she can say at thisstage. Greg Laing with Phoenix Commercial Advisors Inc., Staples'local broker, says he can't discuss the retailer's planned storecount for the market due to a confidentiality clause in thebrokerage agreement.

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McClure says the goal has been to reposition the 1970s-builtCampbell Plaza to attract new tenants. She says negotiations areunder way between the owner and a junior box retailer to take downmore space.

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"The significant vacancy prompted the owner to take a good lookat the center and how to make it work," McClure explains. "When wetook it over, we made some suggestions and the ownership was game."She continues the Staples lease and the hoped-for junior anchorwere the result of the recommendations, which also include somere-tenanting. "This is a great piece of property near the center oftown," McClure says. "Hopefully very soon, it will be closer tofully occupied."

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