The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from August 15 thru 19, 2016
RETAIL – 1290 N. SCOTTSDALE RD., TEMPE
A retail lease for 8,041-square-feet within Rio Salado Center at 1290 N. Scottsdale Rd in Tempe, AZ to Ombudsman Charter School was recently consummated. The owner of the center is Rio Salado Center, LLC. Jared Lively of Rein & Grossoehme represented both the Tenant and the Landlord on this transaction.
RETAIL – 5301 – 5341 S. SUPERSTITION MOUNTAIN DR., GOLD CANYON
A lease for 2,105 square feet in Bashas’ Gold Canyon Shopping Center to Guild Mortgage, LLC was recently consummated. The location of the property is 5301 – 5341 S Superstition Mountain Dr, Gold Canyon. Guild Mortgage has multiple locations in multiple states. Jim Edwards and Josh Stewart of Rein & Grossoehme represented the owner, and Michael McQuaid of HGKF represented the tenant.
RETAIL – 2155 N. SCOTTSDALE RD., TEMPE
A retail lease for 1,413-square-feet within University 101 Shops at 2155 E. University Dr in Tempe, AZ to 360 Barber Shop was recently consummated. The owner of the center is 2155 E. University, LLC. Jared Lively of Rein & Grossoehme represented both the Tenant and the Landlord on this transaction.
San Francisco Tech Company Zenreach Signs Lease at Biltmore Center
Biltmore Center, 2390 E Camelback Road, Phoenix, AZ
ViaWest’s Camelback Corridor Property Attracts Tech Leader with Plans to Hire 350 in Phoenix
Phoenix, AZ — Zenreach, a San Francisco-based technology company, will open its first major office outside of its headquarters at Biltmore Center, 2390 E. Camelback Rd. The company plans to employ approximately 350 people at the Camelback Corridor office.
“This makes a major win for Phoenix and the Biltmore Center property,” says Ryan Timpani, Vice President with Colliers International in Greater Phoenix. “The tech company attracts talented millennial workers. The leadership of Zenreach found the 24th Street and Camelback Road location provides the pedestrian-friendly, amenity-rich environment that appeals to their dynamic prospective employees. This site’s proximity to the new, trendy North Central environment, offerings in Old Town Scottsdale and the dynamic Arcadia Lite area contributed heavily to this location selection.”
Zenreach has occupied a small space in Scottsdale on a temporary basis as it evaluated options in the Metro Phoenix area. The firm has leased 30,091 square feet of space in the Class A, mixed-use project located on the northwest corner of 24th Street and Camelback Road. Zenreach currently employs approximately 90 people in the Valley and will be rapidly expanding with the new lease. Zenreach’s focus in Biltmore Center will be a sales division.
Timpani represented Zenreach in their Phoenix office leasing efforts. ViaWest Group, owner of Biltmore Center, was represented by Phil Breidenbach, Ryan Timpani, Todd Noel and Kathy Foster of Colliers International in Greater Phoenix.
Zenreach is an automated and ROI maximizing Customer Research Management (CRM) marketing company. The firm works with restaurants, night clubs and retailers throughout the United States to analyze in-store behavior of customers in order to create targeted and compelling campaigns that foster customer loyalty and drive revenue. Zenreach uses wifi hardware to assist clients in improving their marketing and financial performance. The firm has recently received significant capital and has been funded previously by Bain Capital, SV Angel and Felicia Ventures.
“Zenreach’s commitment shines a light on a secret we want to tell at Biltmore Center,” says Steven Schwarz of ViaWest Group, owner of Biltmore Center. “The 24th ST & Camelback location rivals anyplace in the Valley for the ‘next generation’ tech-based workforce. This location offers a large number and variety of truly walkable housing units, unparalleled retail and entertainment amenities and well-established technology firms that are attractive to tech workers. Biltmore Center is the hub of this ‘live-work-play community Since acquiring this property, we have worked diligently to integrate cutting-edge, office amenities that appeal to companies like Zenreach. Our creation of a tenant meeting space and wine bar, park-setting gathering spaces and digital focal points have obviously helped us in attracting this tech company with a new economy culture.”
Zenreach has leased space on the third floor of the 2390 E. Camelback Building and took occupancy on August 15th.
Colliers Completes Largest Office Investment Sale in Tucson by SF in 6 Years
Colliers International of Phoenix completed the sale of a 143,650-square-foot Class A office building for $18.95 million, or $131.95 a square foot.
W. P. Carey Inc. on behalf of CPA®:17 – Global, one of its managed REITs, purchased the building, which is leased to a single tenant. The seller was Summit Properties of Seattle.
Neil Glassmoyer, senior vice president; Tivon Moffitt, vice president; and Peter Bauman, senior associate; all of Colliers International in Greater Phoenix, served as brokers for the buyer and seller.
“The transaction is the largest office sale in Tucson based on square footage since January of 2008 and involves one of the highest quality assets in the market,” Moffitt said.
“This sale shows demand for assets in the Tucson market that have investment-grade tenants,” Bauman said.
Constructed in 2002, the building is located at in Tucson and is situated on 16 acres at the Tucson International Business Center.
“The buyer acquired this Class A office building well below replacement cost with a high-quality tenant in place,” Glassmoyer said.
Gino Sabatini, W. P. Carey Managing Director and Co-Head of Global Investments, noted, “The quality of the tenant and the criticality of the asset to their operations made this an attractive investment for W. P. Carey. The building’s size along with significant improvements made by the tenant are key factors in meeting the tenant’s unique requirements and consequently enhanced the investment value of the asset for us.”
Neil Glassmoyer, Tivon Moffitt and Peter Bauman with Colliers International in Phoenix handled the transaction and should be reached at (602) 222-5000.
The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from August 15 thru 19, 2016
