SAN DIEGO – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced that Phenix Salon Suites has signed three leases in Southern California totaling $2.8 million.
Phenix Salon Suites was founded in 2007 in Colorado Springs, Colorado. The company consists of an upscale salon and spa facility that subleases suites within the premises to independent beauty and spa professionals giving the stylists/spa professionals their own individual space within a large space. The company’s private luxury suites function as fully equipped mini-salons that offer stylists, estheticians, massage therapists, nail technicians and others the opportunity for independent salon ownership without the worry and start-up expense of managing a facility on their own. Individual salon owners see an increase in revenue while clients enjoy a more personal experience as opposed to a typical open floor salon.
Phenix signed three 10-year leases at Encinitas Marketplace in Encinitas, Pavilions Place in Huntington Beach/Westminster, and Marina Shores Shopping Center in Long Beach totaling over 10,100 square feet. The square footage for each location is 3,218 square feet, 3,695 square feet and 3,200 square feet, respectively.
“Phenix’s unique individual salon suites concept has quickly expanded throughout the United States and continues to grow,” said Randee Stratton of Cassidy Turley BRE Commercial, who represented Phenix in all of the transactions. “These three locations will open in the first quarter of 2012. And we are currently working on negotiations for additional space in Orange County, Riverside County and Coachella Valley.”
Aaron Hill and John Jennings of Cushman & Wakefield represented the lessor, Kimco Realty, in the Encinitas Marketplace transaction. Kimco Realty represented itself in the Pavilions Place transaction. Mitchell Hernandez and Richard Rizika of CB Richard Ellis represented Regency Centers, the lessor in the Marina Shores Shopping Center transaction.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded nearly $1.2 billion in transactions in 2010. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.