In a deal valued at $3.5 million, Ortho Rehab has signed a seven-year lease for 46,480 sf in the Rio Salado Corporate Center at 1415 W. 3rd St. in Tempe. Dave Seeger and Karsten Peterson, managing directors of Insignia/ESG, and associate Mark Gustin, represented the tenant in the transaction. The property is owned by Bedford Property Investors.
In a $1.8-million lease, Allied Waste Industries is adding 19,784 sf at the Scottsdale Executive Office Center, positioned at 15990 N. Greenway Hayden Loop. The Insignia team of senior managing director Michael White, director Mitch Chilton, and associates Chris Jantz and Scott Isacksen represented the tenant. Scottsdale Executive Office Center LLC is the building owner.
Party City of Phoenix West Inc. has signed a 10-year lease, valued at $1.6 million, for 12,000 sf of retail space in the new 30,000-sf section of Desert Sky Esplanade at 75th Avenue and Encanto Boulevard. Insignia director Paul Holland and Gustin represented the property owner, John F. Long Properties LLP.
The Arizona Board of Regents renewed its lease for 10,012 sf of office space at the University Center, located at 1130 E. University in Tempe. The three-year renewal is valued at $705,846. Seeger, Peterson and Gustin all negotiated for the tenant. St. Paul Properties is the property owner.
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