X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX – Eckerd Drug took another step toward its goal locating 160 stores in the Phoenix market, when it opens one of nine stores currently under construction in the Valley this December.

Larry Ortega with Colliers International tells GlobeSt.com that the drug store chain recently signed a 20 year lease with two five year options on a store currently being constructed at the northwest corner of 83rd Avenue and Thunderbird Road. Terms of that lease were not disclosed.

The 86,000 sf parcel was purchased for the drug giant by Hamilton Hunt, of Tampa, FL, in a $1.2 million deal with K&Y 101Thunderbird LLC of Santa Clara, CA, Ortega said.

The site will be among nine new stores opened by Eckerd by the end of the year.

“We have a lot of dots on the map,” Ortega said of Eckerd’s push into the Phoenix market.

Along with the Thunderbird and 83rd Avenue store, Eckerd also has stores under construction in Phoenix at 55th Ave and Bell Road, 48th Street and Chandler Boulevard, Central Avenue and Dunlop, and at Scottsdale Road and Shea Boulevard, Tatum and Shea, Scottsdale Road and Ashler, all in Scottsdale Priest and Baseline roads in Tempe, Val Vista Road and Chandler Boulevard in Gilbert, and Cave Creek and Carefree Highway in Cave Creek.

Ortega represented Hunt in the land sale deal while Bob Pearlstein with CB Richard Ellis handled the negotiations for the seller, K&Y 101Thunderbird LLC.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.