Three businesses recently signed new leases in the Ahwatukee Foothills area. It’s a good sign for the market but the founder of Zell Commercial Real Estate Services says it’s still a tenant’s market.
“Yes, there are signs that there is some pick up of activity,” said Alan Zell, president of Zell Commercial Real Estate Services Inc. “The opportunities though are still being carefully examined by prospective tenants and they are making economic deals that the landlords are still having to be very aggressive to term. But, at least there are people to talk to to try to make new leases and bring new business into the shopping center.”
Zell believes that with more shops that open up and the less open spaces there are landlords can start to charge a little more and improve the economy. For now he’s just glad to see some spaces filling up.
“Certainly the more businesses that are there it’s good for the existing businesses,” said Zell. “They can attract customers together. Then other people are able to have the comfort of opening new businesses.”
Zell said the market is not what he would consider healthy just yet but it has improved since last year.
“I think it is positive that a lot of the businesses opening up that I’m aware of are multi-site businesses or franchise,” said Zell. “That usually gives them a better chance of success than the smaller, one location, businesses that don’t have any prior experience or a franchise to help guide them.”
The three new shops set to open are The Joint Chiropractic at 4910 E. Ray Road, Tranquil Infusion Skin Care at 4302 E. Ray Road in the Ranch Circle Plaza, and Big League Dugout at 5805 W. Ray Road in Chandler.
The Joint is a franchise. They have at least six locations in the Valley listed as “coming soon” on their website. According to the website: “Over the next 10 years, The Joint plans to expand to include more than 1,200 locations nationwide. Our goal is to re-shape the chiropractic industry and the ways in which people rely on chiropractic care to enhance their wellness — one body at a time.”
The Joint encourages walk-ins. For more information on their services, visit www.thejoint.com.
Tranquil Infusion Skin Care focuses on facials, peels and masks for all ages. They are available by appointment only at (480) 759-7546 or email@example.com.
Big League Dugout has one other location in Scottsdale. They will operate a 3,735-square-foot baseball and softball specialty store in Laguna Village. According to their website, Big League Dugout is owned by former pro player Mel Mallinak. More information can be found at bigleaguedugout.com.
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