The lease at Terrawest was the largest Class A office deal in North Phoenix post-pandemic
Phoenix (November 3, 2025) – CBRE has arranged a 40,360 sq. ft. office lease for California State Automobile Association Insurance Group (CSAA) at Terrawest in Phoenix, Ariz.
Ashley Brooks, Jim Bayless, and Jasmina Bays of CBRE represented the landlord, Silver Creek Development, in the transaction.
“We’re pleased to have assisted Silver Creek Development in securing this lease for CSAA,” said CBRE’s Brooks. “The lease demonstrates the ongoing demand for high-quality, well-located office space in the Phoenix market.”
Located at 25800 North Norterra Parkway, the three-story Class A office building, situated near the TSMC campus, was constructed in 2021. The building features a tenant lounge, multiple training rooms, event space, and conference rooms. CSAA plans to occupy its new space in Q2 2026, joining other Terrawest tenants Lam Research, Applied Materials, and LaserTec.
“Silver Creek Development has cultivated an environment that gives way to long-term success for their clients and the surrounding community at Terrawest,” added CBRE’s Bayless.
“The energy surrounding TSMC has elevated this corridor into one of the most dynamic office submarkets in the country,” said Charles Essig, Managing Director of Silver Creek. “This transaction establishes a benchmark and validates the economic wave now materializing into executed office demand.
The building is situated within a 576-acre master-planned park near Happy Valley Towne Center and The Shops at Norterra, which offer 1.1 million square feet of retail and dining space.