ViaWest Group Completes 28,500 SF of New Leases at Biltmore Financial Center

Biltmore Financial Center
Biltmore Financial Center (photo credit CBRE)

PHOENIX, AZ – ViaWest Group has recently completed almost 28,500-square-feet of new leases at the Biltmore Financial Center, a 635,000-square-foot, three-building, Class A property at the northwest corner of 24th Street and Camelback in Phoenix, with a 30-year history of fostering careers and businesses.

WealthPoint, Philadelphia Insurance, Mandel Young Law, Versant Capital Management and Fresenius Medical Care have signed leases within the last number of weeks. ViaWest Group also plans to move its office to the Biltmore Financial Center this summer. The new completed leases are the beginning signs of strong demand at the Biltmore Financial Center.

“The tenants, and our significant pipeline of prospective tenants, have been drawn to the Biltmore Financial Center especially considering our renovation, which advances the legacy and enhances the property’s premium, modern-work environment,” said Steven Schwarz, a Founding Partner of ViaWest Group. “Our hands-on management approach and vision of the property as the Valley’s premier address for business helped attract each of these tenants.”

ViaWest Group has grown dramatically in recent years, hiring 24 employees in 2015. Now with 33 total employees, ViaWest Group will expand its main office to 5,400 square feet near the soon-to-be-developed Biltmore Financial Center’s 3,500-square-foot tenant lounge, which will include a 20+ seat conference room, made-to-order food service, big screen media wall, indoor/outdoor co-working space and games.

ViaWest Group is currently conducting a multi-million dollar renovation of the Biltmore Financial Center after purchasing the complex last summer.

Expected to be complete in July, the renovation also includes:

  • Creating new speculative suites – Approximately 8 suites ranging in size from 1,600 square feet to 11,000 totaling 35,000 square feet. The suites will have modern entries with built-in reception desks, comfortable break rooms with best-of-class appliances and materials, LED direct/indirect lighting, significant interior glass, and much more
  • Overhauling the one-acre plaza with a new fountain, providing significant shade from new landscaping and structure and offering an assortment of outdoor seating and meeting spots
  • Upgrading the café with beer and wine, enhanced architecture, an inviting patio and immediate delivery to complex
  • Renovating the 4,400-square-foot gym with new equipment, fully-renovated locker rooms, refurbished workout space, and a new yoga/fitness room
  • Updating key elements of the lobby space, corridors, bathrooms, and elevator lobbies
  • Significantly enhanced signage and building entries throughout the complex yielding a sense of place combined with increased synergy between all the buildings and amenities

WealthPoint expanded a previous lease and moved into a 5,000-square-foot office in the 11-story Biltmore Financial Center II (aka Northern Trust Tower, 2398 E. Camelback Road) in late January. The new office maintains WealthPoint’s expansive view of 24th Street and Camelback Road.

In April, Philadelphia Insurance will move into its new 4,606-square-foot office, also in the Biltmore Financial Center II, with a balcony and Camelback Corridor view.

Mandel Young Law will move from another location on Camelback Road to its new 2,843-square-foot office with a corner view and a balcony in the 4-story Biltmore Financial Center I in May.

Nearly doubling its existing lease at Biltmore Financial Center, Versant Capital Management will move into 6,400-square-feet in the 6-story Biltmore Financial Center III (2394 E. Camelback Road) in May.

Fresenius Medical Care will move into a 4,301-square-foot office with excellent views and a prime entry off the elevator lobby in the Biltmore Financial Center II in May.

 




ViaWest Group Launches Renovation of Biltmore Financial Center

Plaza Overview
Plaza Overview, Biltmore Financial Center

PHOENIX, AZ – ViaWest Group is launching a multi-million dollar renovation of the Biltmore Financial Center, three Class A office buildings totaling approximately 635,000-square-feet at the northwest corner of 24th Street and Camelback in Phoenix.

ViaWest is committed to maintaining the legacy of the Biltmore Financial Center while evolving the property for today’s more collaborative work environments. The renovation begins in January and is expected to be complete in July and will include:

  • Creating new speculative suites – Approximately 8 suites ranging in size from 1,600-square-feet to 11,000 totaling 35,000-square-feet. The suites will have modern entries with built-in reception desks, comfortable break rooms with best-of-class appliances and materials, LED direct/indirect lighting, significant interior glass, and much more
  • Opening a new 3,500-square-foot tenant lounge with 20+ seat conference room, made-to-order food service, big screen media wall, indoor/outdoor co-working space and games
  • Overhauling the one-acre plaza with a new fountain, providing significant shade from new landscaping and structure and offering an assortment of outdoor seating and meeting spots
  • Upgrading the café with beer and wine, enhanced architecture, inviting patio and immediate delivery to complex
  • Renovating the 4,400-square-foot gym with new equipment, improved bathrooms and workout space and adding a new yoga/fitness room
  • Updating elements of the lobby space, corridors, bathrooms, and elevator lobbies
  • Significantly enhanced signage and building entries throughout complex yielding a sense of place combined with increased synergy between all the buildings and amenities

“For more than 30 years, the Biltmore Financial Center is where businesses and leaders have launched and grown their companies and careers. The renovation will continue to invigorate the complex and further attract Phoenix’s distinguished financial and legal institutions to cohabitate with today’s creative class,” said Steven Schwarz, a Founding Partner of ViaWest Group.

ViaWest Group purchased the Biltmore Financial Center in the summer of 2015 for $163.1 million ($257 PSF). At the time, the transaction was the largest multi-tenant office sale in the Phoenix area since 2007 and third largest sale ever in the metropolitan area.

Major Biltmore Financial Center tenants include Fennemore Craig, Colliers International and Northern Trust. The complex comprises three buildings:

  • 4-story Biltmore Financial Center I (2390 E. Camelback Road) – 210,494 SF
  • 11-story Biltmore Financial Center II (Northern Trust Tower, 2398 E. Camelback Road) – 288,076 SF
  • 6-story Biltmore Financial Center III (2394 E. Camelback Road) – 134,889 SF

DAVIS of Tempe is the architect. The general contractor has not yet been finalized. The Design Element of Phoenix is the landscape architect. Trademark of Phoenix is providing the signage.

 




Hool Coury Law Expands at Biltmore Financial Center

Biltmore Financial CenterLong-Term Lease at Biltmore Financial Center

PHOENIX, AZ – Hool Coury Law, a Phoenix law firm that helps entrepreneurs launch start-ups, has expanded its offices to nearly 5,000 square feet at the Biltmore Financial Center, adding new space adjacent to its existing offices for meetings with its client entrepreneurs and to facilitate meetings with investors and clients.

Hool Coury Law assists entrepreneurs and investors in launching companies, deploying capital, rapidly scaling and planning an exit. The law firm formed the Biltmore Angel Fund, hosts the Arizona Collegiate Venture Competition and participates in Phoenix Startup Week.

The law firm, with five lawyers and two paralegals, has been located at Biltmore Financial Center, 2398 E. Camelback Road, for eight years.

“The Biltmore Financial Center has been our law firm’s home for many years now,” said Michael D. Hool, managing partner of Hool Coury Law. “The location provides close access to angel investors and other financial leaders, and this new space provides us more room to do what we have always done–helping launch, fund and grow ventures. In addition, we like ViaWest Group’s vision for f

In July, ViaWest Group purchased the Biltmore Financial Center, three Class A office buildings totaling approximately 635,000 square feet at the northwest corner of 24th Street and Camelback in Phoenix, for $163.1 million (or $257 per square foot). At the time, the transaction was the largest multi-tenant office sale in the Phoenix area since 2007 and third largest sale ever in the metropolitan area, according to CoStar’s records.

“Hool Coury Law is an example of an increasing entrepreneurial culture at the Biltmore Financial Center where distinguished legal and financial institutions cohabitate with today’s creative class,” said Steven Schwarz, a Founding Partner of ViaWest Group.

With the improvements being announced soon at the property, ViaWest expects this to be the first of many entrepreneurial and institutional firms staking a position at the property to benefit from the unique, collaborative setting that will be fostered through both management and layout.