Davis Enterprises Announces Recent Lease Transactions

Oct. 24, 2013- Davis Enterprises, a leading investment and development company that has served the Phoenix commercial and multi-family market for six decades, recently closed on three lease deals for several of its properties in the Valley.

Ritoch-Powell & Associates (RPA), a full-service engineering and surveying firm, signed a long-term lease to occupy approximately 9,000 square feet at 5727 N. Seventh St. in Phoenix, Ariz. The tenant is expected to open its doors by Oct. 25, 2013. Davis Enterprises negotiated directly with RPA on the deal.

McDonalds, the international fast food chain, signed a long-term ground lease at Melrose Marketplace, Davis Enterprises’ development on the southwest corner of Indian School Road and Seventh Avenue. The restaurant expects to open by Christmas of this year. Jon Cowan and Adam Madison of Cushman and Wakefield represented both sides in the deal. Cowan now works for SRS Real Estate Partners.

Family Dollar, a regional chain of variety stores, signed a long-term lease at Melrose Marketplace for approximately 9,000 square feet and recently opened its doors. Bill Moore of Fieldstone represented Family Dollar in the lease negotiations.

Melrose Marketplace is an in-fill redevelopment at the southwest Corner of 7th Avenue and Indian School with anchor and pad space available.  For further information on the lease transactions above or future leasing please contact Jenifer Davis Lunt at 602-275-1000.

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