PHOENIX-A children’s karate center signs a three-year lease for 2,600 sf, getting a rateo f about $10.50 per foot, for the Moutainview Marketplace space. An adjoining 1,300 sf, now vacant, could be tacked onto the lease in the near future.

“The space is on the side where it’s not good space necessarily for retail, but better for a service use. It was a good fit,” Gordon Raguse, a senior vice president with Grubb & Ellis/BRE Commercial in Phoenix, says of the 3131 E. Thunderbird Rd. shopping center.Karate for Kids, a subsidiary of Little Rock, AR-based American Taekwondo Association Inc., signed the deal with owner CNA Enterprises of Studio City, CA. The tenant had outgrown space in a nearby community center, prompting the move, Raguse tells Tom Ellis of Ellis/Arnold & Associates of Phoenix represented the tenant in the negotiations.

The deal brings the 180,000-sf Mountainview, a 1970s-constructed facility, up to 90% occupancy. The Safeway grocery-anchored center was renovated seven years ago when CNA Enterprises bought it. Rents average $10.50 per sf triple net.

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