Kids Corner Preschool and Childcare LLC of Phoenix will move into the center at 2051 W. Guadalupe in the summer. "They took over a Tutor Time that had been out for about eight months," Michelle Sosnick of Retail Brokers Inc.'s Phoenix office tells GlobeSt.com. "Tutor Time had taken 14,000 sf and they didn't need that much space so they're cutting it in half. Otherwise, there wasn't a lot of TI work to be done."
The center, owned by TMS-Guadalupe & Dobson Center LLC of Phoenix, is 70% leased. Anthony Grasso with Sunbelt of Phoenix East Valley in Tempe represented the owner. Sosnick, who partners with Danielle Davis, says the retail space is quoted at $15 per sf, with tenants paying $10 per sf for the first two years and $15 per sf for remaining terms.
Sosnick says the day-care provider is planning to add more locations, but doesn't have another deal in the works now. The operator, she says, prefers older spaces ranging from 5,000 sf to 8,000 sf and with minimal tenant-improvement dollars.
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