FOUNTAIN HILLS, AZ-KFC of America Inc. has snagged a 36,445-sf, long-term ground lease in a deal that makes it the first restaurant to sign up for the Four Peaks Plaza in Fountain Hills, a suburb about 20 miles northeast of downtown Phoenix.

Four Peaks Plaza is located at the southwest corner of Saguaro and Shea boulevards. The intersection has become a focal point in Fountain Hills. Shea Boulevard is the main artery into town from the Valley. Less than a half mile from the site is Beeline Highway, which is a heavily traveled thoroughfare when weekenders take to the roads and head out of metro Phoenix. Once just a bedroom community, Fountain Hills is now bustling with employment centers and retail sites. The city abuts Scottsdale and is flanked on two sides by Indian reservations.

Mark Bramlett of the Phoenix office of Grubb & Ellis Co. negotiated the transaction between KFC and developer-owner, Kimco Barclay Fountain Hills LP. A mid-2002 opening is planned for the eatery.

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