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PHOENIX-Four retail leases close in the region, two of which are bring an expansion and new location for Irving, TX-based Michaels Stores Inc. The deals shore up 49,580 sf of retail space in Scottsdale and Prescott, AZ.

At Scottsdale Pavilions, Michaels will relocate from within the same retail center, effective April 2002. The new location totals 24,449 sf. Scottsdale Pavilions is located on the southwest corner of Loop 101 and Indian Bend.

Tom Woods of Colliers International’s Phoenix office represented Michaels and property owner, Pima Grande Development II of Scottsdale. Woods also negotiated a 14,547-sf retail site for the nationwide arts and crafts retailer at Prescott Gateway Mall, situated at the juncture of US Highway 69 and Lee Boulevard in the suburb of Prescott. That ribbon cutting will take place March 1, 2002. Woods negotiated the pact for both parties. Prescott Mall LLC of Phoenix is the owner of record.

In yet another Woods’ deal, a 3,720-sf expansion at Scottsdale Pavilions is being readied for a March 2002 takeover by Souper Salad LLC, headquartered in San Antonio.

And coming up April 1, 2002, Phoenix-based Macayo Restaurant adds 6,864 sf to its location at Prescott Gateway, a regional shopping center also owned by Prescott Mall LLC. Woods handled talks for tenant and center owner. The high-profile retail center’s tenant roster includes Barnes & Noble, Pier 1 and Linens & Things.

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