Cassidy Turley, a leading commercial real estate services provider in the U.S., announced that it completed a lease of 15,054 square feet for locally based The Leona Group Arizona, LLC at Catalina Terraces, 7878 North 16th Street in Phoenix.
Cassidy Turley Vice President Justin Himelstein represented the tenant, while Phil Breidenback, Keith Lambeth, Lindsey Carlson and Ryan Timpani with Colliers International represented Catalina Terraces Operating Associates, a company formed by Rosemont Realty.
“We scoured the market for potential sites to purchase and lease, but it made the most financial sense for The Leona Group to renew and remain at Catalina Terraces,” Mr. Himelstein said. “We were able to reduce overall occupancy costs while negotiating tenant improvements to modernize the space.”
The Leona Group is a national provider of services to charter schools and among the nation’s pioneers of education reform. Leona formed in 1996 to provide quality school choices to families, primarily in urban communities. Each school curriculum is centered on the child, with lessons and standards presented in ways that help students thrive and succeed with comprehensive school management services as well as rewarding careers for world-class educators. The Leona Group currently operates 60 schools in Arizona, Florida, Indiana, Michigan and Ohio with approximately 18,000 students enrolled. Its philosophy is that every child can and will learn, regardless of ethnicity, economic or educational disadvantage.
Built in 1990 and renovated in 2002, Catalina Terraces is a 177,522 square foot Class A office building with a unique Southwestern design adjacent to the Phoenix Mountain Preserve and Pointe Hilton Resort. The project has quick access to the State Route 51 and is minutes from Sky Harbor International Airport. The Leona group will use the space for its Corporate Headquarters.