LA Fitness Stamps $1.2-Mil Lease for SE Valley

PHOENIX-A 41,000-sf, state-of-the-art fitness center is being planned for the Foothills Vista Commons shopping center in the Southeast Valley. LA Fitness International, based in Newport Beach, CA, has signed a 15-year pact valued at slightly more than $1.2 million over the contract term for the spot.

LA Fitness International is lining up a construction schedule to drive an October 2002 opening at the northwest corner of 48th Street and Chandler Boulevard in Phoenix. Dave Newquist and Ron Ault, both of CB Richard Ellis Inc.’s Phoenix team, represented the retail center’s owner, Orsett/ER LLC of Wellesley, MS. Walt Brown of Diversified Retail Brokers in Phoenix acted on the tenant’s behalf.

Newquist and Ault also represented property owner, Bell Arrowhead LLC of Corona Del Mar, CA in a 12-year lease valued at nearly $2.4 million. Trader Joe’s Co. opened a 9,965-sf freestanding store at 7720 W. Bell Rd. in Glendale as a result of the signing. IDS Inc. of Vail, CO represented the South Pasadena, CA-based tenant.