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Colorado Springs, CO-based Phenix Salon Suites has inked a 15-year, $3.76M deal for 7k SF in a new, single-tenant retail building at 1975 E 17th St in Santa Ana. Phenix Salon Suites is the WeWork of the beauty business, providing independent operators—hairstylists, nails specialists, and other salon professionals—individual suites for serving clients.
A grand opening is planned for September. Easily accessed from the 55 Freeway, the Phenix Salon location is near Hobby Lobby and several quick-service restaurants, including Chipotle and Which Wich. Newmark Grubb Knight Frank (NGKF) La Jolla office managing director Randee Stratton handled the lease on behalf of Phenix Salon, a growing franchise client with more than 200 locations nationally. This is the 40th lease deal she has handled for this client in California over the past four years. The building owner is an entity of Red Mountain Retail Group.
Stratton says this location was selected due to high salon density in proximity, which is the major site selection criterion of Phenix Salon. Her client’s lease-up strategy is to attract stylists from nearby salons, bringing their own book of business and setting hours of operation preferred by clients. Planned improvements will provide turnkey ease of relocation for tenants, who will be offered the flexibility to decorate their own space.
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