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 24^th 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 15^th.

PHOENIX, AZ– The Real Estate Daily News reported this sale on February 20, 2014 see https://realestatedaily-news.com/w-p-carey-adds-19-million-building-tucson-international-portfolio/ for the story. Colliers has brought additional information to our attention that we wanted to share with our readers.

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 leases were reported to the Real Estate Daily News for the Phoenix Lease Report in the metro Phoenix area for the week of March 31 – April 4, 2014.

Consumer Cellular, leased 85,245 sq. ft. of back office space in the Tempe Commerce Park, Bldg. F, 7410 S. Roosevelt St. in Tempe, Ariz. The lease is for 8 years and starts this spring and will be comprised of the entire building footprint. Lee & Associates Principal, Rick Lee, represented the Scottsdale-based ownership of Walton-EH Tempe Commerce JV VI, LLC (Everest Holdings). Mike Nye of Capacity Commercial of Portland represented the tenant, Consumer Cellular.

Larry Miller and John Jackson of Velocity Retail Group represented Anthem Eastside Shops on the northwest corner of Anthem Way and Venture Drive in Anthem, Arizona in the lease of a 9,145 sq. ft. space to Dollar Tree. The tenant had long attempted to enter the Anthem market, but had been unable to secure quality real estate of sufficient size. The landlord, DPC Development Company, was able to relocate one of their restaurant tenants within the building to create a space for Dollar Tree. Kurt Kalocin of SRS represented the tenant in the 7-year lease. The new store is set to open in April.

Tom Bean and Troy Giammarco represented the tenant, Landmark Collections, LLC, in a 62-month office lease transaction for a 5,079 sq. ft. space at 7776 South Pointe Parkway in Tempe, AZ. Ryan Michael with Cushman & Wakefield represented the landlord, Clocktower Corporate Centre Limited Partnership.

Barbara Lloyd and Tom Bean represented the landlord, Tempe CC, LLC, in a 63 month medical lease transaction for a 3,333 sq. ft. space at 4515 South McClintock Drive in Tempe, AZ. Matt Nebeker with Cassidy Turley represented the tenant, Arizona Microtek, Inc.

Valor IT dba Valor Global Services signed a 6 month lease for 3,000 sq. ft. of office space at 2720 E. Thomas Rd. # A-2000, Phoenix. Adrienne Bryant & Jonvieve Bryant of Bryant Commercial Real Estate handled the transaction for Freeport Investments, the landlord in this transaction.

Hut No. 8, a clothing retailer new to the Phoenix Valley, will be opening its first location in Arizona at the SWC of Warner Road and Val Vista Road in Gilbert. Larry Miller, John Jackson, and Michael Clark of Velocity Retail Group negotiated a five-year lease of 3,428 sq. ft. on behalf of the landlord, North American Development Group. The tenant was represented by Mark Camara of APE Realty. This is also the first location for the franchisee, which plans to open in July.

Velocity Retail Group, LLC announces that the first newly redesigned prototype for Popeye’s Louisiana Kitchen will be built at the southwest corner of Elliot Road and Priest Drive in Tempe, Arizona.   Dave Cheatham, Michael Clark, and Nick Ault of Velocity Retail Group represented Popeye’s in the transaction.  The landlord TPP JV Maricopa, LLC an entity controlled by Trigate Capital was represented by Clift Johnston of Cassidy Turley BRE.  The new building will be 2,951 sq. ft. and be located on a 23,000 square foot parcel fronting Elliot Road and is expected to open by the 4^th quarter of this year.

BBD Ventures LLC dba Mojitos Cigar Bar signed a 5 year lease for 2,830 sq. ft. of retail space at 29850 N. Tatum Blvd. Phoenix represented by Adrienne Bryant & Jonvieve Bryant of Bryant Commercial Real Estate.  Hanley Properties II LLC represented the landlord in this transaction.

Mike Myrick represented both the landlord, CPLC, Inc., and the tenant, Restaurant Success, LLC, in a 5 year retail lease transaction for a 2,592 sq. ft. space at 701 South Central Avenue in Phoenix, AZ.

West Valley Gaming signed a 5 year lease for 2,535 sq. ft. of retail space at 13915 N. Dysart Rd. Suite C1 El Mirage AZ. From A. Bryant.  Hanley Properties VII LLC represented the Landlord in this transaction. Chris Gerow, Shelby Tworek, and Gabe Ortega of NAI Horizon represented both the landlord, CP6GT, LLC, and the tenant, Anaya’s Fresh Mexican Restaurant, in a 5 year retail lease transaction for a 2,401 sq. ft. space at 5830 West Thunderbird Road in Glendale, AZ.

Larry Miller and John Jackson of Velocity Retail Group represented European Wax Center in a 10-year lease of 1,681 sq. ft. at Boardwalk at Anderson Springs located on West Ray Road in Chandler, Arizona. The landlord was represented by Shelby Tworek and Gabe Ortega of NAI Horizon. This is the 18^th Valley location for the tenant, and is scheduled to open in August.

24/7 AC, LLC dba 24/7 AC signed a 2 year lease for 1,000 sq. ft. of retail space at 500 W. Southern Ave. Adrienne Bryant & Jonvieve Bryant of Bryant Commercial Real Estate represented the tenant. Southern Square LLC represented the landlord in this transaction.

Chip Thor of Velocity Retail Group represented V’s Barber Shop in a 5-year lease for 950 sq. ft. at CityScape at First Street and Washington in downtown Phoenix, AZ. The landlord was represented by Mike Kallner of Red Development. The new shop is expected to open this month.