Phoenix Lease Report Week of July 13 – 17, 2015

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Phoenix Lease Report
Phoenix Lease Report

The following leases were reported to the Real Estate Daily News for the Phoenix Lease Report the week of July 13 thru 17, 2015.

INDUSTRIAL – 3100 E. BROADWAY RD., PHOENIX
Cushman & Wakefield of Arizona, Inc. negotiated a long-term sublease for DialAmerica Marketing, Inc. at Riverpoint, located at 3100 E. Broadway Rd., Phoenix AZ.The transaction is for a new DialAmerica call center in the Valley. DialAmerica, headquartered in Mahwah, N.J., will occupy 50,267-square-feet of office space at Riverpoint Building No. 2. The company’s lease has taken effect and operations are being DialAmerica is one of the nation’s largest outbound and inbound contract call center companies. It has 21 call centers throughout the U.S. “The central location, along with the existing buildout that included furniture, fixtures and equipment in place, was a perfect ‘plug-and-play’ opportunity in getting their operation up and running,” said Larry Downey, Vice Chairman | Tenant Advisory Group with Cushman & Wakefield of Arizona. Downey represented DialAmerica in the transaction. The sublessor, the University of Phoenix, was represented by John Bonnell, Brett Abramson and Matt Hersh of JLL. “It was a pleasure working with Larry Downey and the entire Cushman & Wakefield team,” said Vito Porcelli, Property Manager for DialAmerica. “Subleases can be very tough when working with multiple parties, but they managed to complete this deal in record time. DialAmerica is in the process of hiring up to 150 agents between now and the end of the year and they will enjoy working in a state-of-the-art call center.”

OFFICE – 2195 WEST CHANDLER BLVD, CHANDLER
Portico Place II, a 48,173-square-foot Class A multi-tenant office building in Chandler, AZ has secured its first tenant, Hanjin Shipping, a transportation logistics firm that will occupy 37,669-square-feet. Hanjin Shipping will take up 78 percent of the building’s overall space, occupying the entire second floor and half of the first floor. Portico Place II officially opened in April and is located at 2195 W. Chandler Boulevard; it is the first speculative, multi-tenant office building of its size developed in the Valley in nearly six years. JLL represented Hanjin in its lease negotiations; Lee & Associates represented the property owner, Irgens. “We’re extremely pleased to have Hanjin Shipping make Portico Place II its home,” said Jason Meszaros, vice president and market manager for Irgens, the building’s developer and property manager. “This is further evidence of businesses committing to investment and expansion in the Southeast Valley, and we expect to see more of it in the coming months.” “Hanjin looked at all office options in the area to meet the expansion needs of its existing – and growing – regional operations center in Chandler,” said JLL Managing Director John Pierson. “After a thorough search, Portico Place II provided a location that not only keeps Hanjin close to its large Chandler-area workforce, but also provides the right mix of amenities.” Portico Place II is adjacent to the fully leased Portico Place I, and is part of a 15-acre mixed-use development. It has 10,504 square feet of space available for leasing, which is being brokered by Lee & Associates.  “Portico Place II is filling a need for Class A office space in the Chandler area. Hanjin Shipping will be a great addition to the project,” said Colton Trauter, principal at Lee & Associates. “With prominent visibility and great access to the Loop 101 and 202, Portico Place II is in the middle of one of the Valley’s most dynamic business corridors.” Nearby regional amenities include Chandler Fashion Square, downtown Chandler, and various hotels. Portico Place II is less than a mile from Chandler Regional Hospital with corporate neighbors including Intel, Microchip, Bank of America, Orbital Science, eBay, and Wells Fargo.

RETAIL – SWC of 35TH AVE & THUNDERBIRD RD, PHOENIX
A retail lease for 11,400-square-feet at Thunderbird Square at the SWC of 35th Ave & Thunderbird Rd in Phoenix, AZ to St. Vincent de Paul was recently consummated. The owner of the center is B.H. Chapman, LLC. Jared Lively of Rein & Grossoehme represented the Landlord and DTZ represented the Tenant on this transaction.