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.

OFFICE – 5651 W. TALAVI BLVD. & 16680 N. 51^st AVE., PHOENIX
Redflex Traffic Systems leased approximately 35,760-square-feet in two buildings at 5651 W. Talavi Blvd. within Talavi Corporate Center and 16680 N. 51st Ave. within the 51 Bells project in Glendale, AZ for relocation from its current location at 23rd Avenue and Pinnacle Peak Road. Senior Directors Blaine Black, Sam Murik and Don Rodie and Associate Robb Vallier with Cushman & Wakefield represented Redflex in the lease negotiations. Ashley Brooks of CBRE represented Los Angeles-based Regent Properties, owner of Talavi Corporate Center. Redflex also leased approximately 14,000-square feet at 51 Bells. The company will take occupancy of its new spaces in December. “This was an opportunity for Redflex to rid itself of wasted space, gain efficiencies, and relocate to an area full of amenities for its employees,” Mr. Black said. Redflex Traffic Systems develops and manufactures a wide range of digital photo enforcement solutions including red light camera, speed camera, and school-bus-stop arm camera systems. Mark Linsalata of Lee & Associates Arizona represented Arizona-based 51 Bells Limited Partnership.

RETAIL – 3611 E. INDIAN SCHOOL RD., PHOENIX
A retail lease for 8,325-square-feet at Gaslight Square at 36th St & Indian School in Phoenix, AZ to Dennis Uniforms was recently consummated. The owner of the center is Gaslight Square Retail, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and Blaine Black of Cushman Wakefield the Tenant on this transaction.

OFFICE – 6565 E CARONDELET DR., STE 235, TUCSON
Arizona EndoVascular Center, PLLC renewed their lease for 7,337 square feet of medical office space at 6565 E. Carondelet Dr., Suite 235 in Tucson from Tucson Medical Investors, Ltd.  Rick Kleiner, MBA, and Tom Knox, SIOR, Office Specialists with Cushman & Wakefield | PICOR, represented the landlord and Andrew Sternberg with Oxford Realty Advisors, represented the tenant in this transaction.

RETAIL – 15505-15507 N. SCOTTSDALE RD, SCOTTSDALE
A lease for 4,549-square-feet in Zocallo Plaza was recently signed with Classy Closets.  The property is located at 15505-15507 N. Scottsdale Road in Scottsdale, AZ.  The owner of the center is Enright Zocallo LP. Jake Ertle of Rein & Grossoehme represented the owner and Grafton Milne of Menlo Group represented the tenant.

OFFICE – 2430 E 6TH STREET, TUCSON
Lifeshare Management Group, LLC leased 4,394 square feet of office space at 2430 E. 6^th St. in Tucson from Harvey Trust.  Rick Kleiner, MBA, Office Specialist with Cushman & Wakefield | PICOR, represented the landlord and Paddy Mullen with Cushman & Wakefield of Missouri, represented the tenant in this transaction.

RETAIL – 15551 N. GREENWAY-HAYDEN LOOP, PHOENIX
A lease for 3,200-square-feet in The District at the Airpark Center was recently signed with Sun Mountain Door.  The property is located at 15551 N. Greenway-Hayden Loop in Scottsdale, AZ.  The owner of the center is K2H Airpark Design, LLC. Steve Grossoehme and Jake Ertle of Rein & Grossoehme represented the owner and Adrienne Bryant of Bryant Commercial represented the tenant.

RETAIL – 15505-15507 N. SCOTTSDALE RD, SCOTTSDALE
A lease for 3,150-square-feet in Zocallo Plaza was recently signed with Sunset Spas.  The property is located at 15505-15507 N Scottsdale Road in Scottsdale, Arizona.  The owner of the center is Enright Zocallo LP. Jake Ertle of Rein & Grossoehme represented both the owner and the tenant.

RETAIL – 4731 E. UNION HILLS, PHOENIX
A lease for 2,499-square-feet at 4731 East Union Hills in Phoenix was recently completed between Dr. Bukhari and La Piazza Center, LLC. Jake Ertle and Jim Edwards of Rein & Grossoehme represented the landlord and Jennifer Eggert and Dena Zell of Zell Commercial represented the Tenant.

RETAIL – 5622 E BROADWAY BLVD., TUCSON
Creative Vapor, LLC leased 2,155 square feet in Broadway Center at 5622 E. Broadway Blvd. in Tucson from Broadway Craycroft, LLC. Greg Furrier, Retail Specialist with Cushman & Wakefield | PICOR, represented the landlord and Aaron LaPrise, Retail Specialist with Cushman & Wakefield | PICOR, represented the tenant in this transaction.

INDUSTRIAL – 1870 W PRINCE ROAD, STE 20, TUCSON
Remblake Builders, LLC leased 1,440 square feet at 1870 W. Prince Rd., Suite 20 in Tucson from Presson Corporation.  Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 4902 E. THOMAS RD., PHOENIX
A retail lease for 1,425-square-feet at 40 Palms Arcadia at 40th St & Thomas in Phoenix, AZ to The Weave Bar of ATL was recently consummated. The owner of the center is Arcadia Village Shops, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and the Tenant on this transaction.

OFFICE – 4500 E SPEEDWAY BLVD., TUCSON
Great Escape Tucson, LLC leased 1,272 square feet at 4500 E. Speedway, Suite 113 in Tucson from Presson Midway, LLC. Rob Glaser, SIOR, CCIM, and Paul Hooker, Industrial Specialists with Cushman & Wakefield | PICOR, handled this transaction.

RETAIL – 125^th AVE & THUNDERBIRD, EL MIRAGE
A retail lease for 1,269-square-feet at West Thunderbird Plaza at 125th Ave & Thunderbird in El Mirage, AZ to RC Heaven Hobby Shop was recently consummated. The owner of the center is Max Taylor & Company, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and the Tenant on this transaction.

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.