Colliers International and Urban Property Team are pleased to offer the recently constructed 10,000 square-foot multi-tenant net leased investment, home to Mattress Firm & Gateway Fitness, in Gilbert, AZ. The asset is located in the eastern portion of Gilbert, one of the most affluent and rapidly expanding submarkets in the greater Phoenix area. The freestanding property is essentially an outparcel adjacent to the 580,000 SF American Furniture Warehouse.
Mattress Firm signed an eleven year corporate backed, double net lease featuring two 5-year option terms. With more than 3,500 company-operated and franchised stores across 49 states, Mattress Firm has the largest geographic footprint in the United States among multi-brand mattress retailers. It is a wholly owned subsidiary of Steinhoff International, a global retailer with over 40 local brands in 30 countries. Gateway Fitness signed a ten year net lease with one 5-year option term. Gateway Fitness is local to Arizona and continues to expand into new areas.