12-acre Project Will Be Scottsdale’s Biggest Retail Development in Five Years

Scottsdale, AZ —  MainSpring Capital, developer of the 232-acre mixed-use Pima Center, has announced plans for its new retail development, The Block at Pima Center.

Located on the Northwest Corner of the Loop 101 and Via de Ventura on the Salt River Pima Maricopa Indian Community, Pima Center is one of North Scottsdale’s largest and most successful mixed-use business park with 1.4 million square feet already developed.  The Block at Pima Center will occupy approximately 12 acres with freeway frontage along the 101 and with full diamond access at Via de Ventura.

“The demographics for this retail project could not be better,” says Curtis Brown, principal with MainSpring Capital Group.  “We currently have 3,800 existing employees on-site at Pima Center, as well as thousands of additional employees and residents in the nearby area.  Our visibility along Loop 101 and access to two different interchanges of the freeway make this a great location for retailers and restaurants.”

The Block at Pima Center will contain upwards of 60,000 square-feet of restaurant and service retail space.  The property contains six pad sites for stand-alone users.  A large freeway pylon and monument sign will be erected along Loop 101 to provide additional visibility for The Block’s tenants.

Stan Sanchez, Larry Miller and John “JK” Jackson of Colliers International in Greater Phoenix are exclusive leasing/sales agents for The Block at Pima Center.  “Since introducing the project to the commercial real estate market this month, we have received exciting response from interested tenants,” says Sanchez.  “This development provides a unique opportunity to access one of the Valley’s most desirable retail customer markets in an exciting new development.  This will be the first sizable retail development project in Scottsdale since the creation of The Scottsdale Quarter.”

Located in the heart of the Talking Stick entertainment corridor, Pima Center is surrounded by Salt River Fields baseball stadium, the Butterfly Pavilion, TopGolf, Talking Stick Resort and the recently opened Odysea Aquarium in the Desert.

The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from September 6 thru 9, 2016

RETAIL – 7565 W. PEORIA AVE., PEORIA
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon with NAI Horizon represented the tenant, Planet Fitness, in a 132-month retail lease for a 23,236-square-feet of space at 7565 W. Peoria, AZ 85345. Scott Smith with Capital Asset Management represented the landlord, New Generation Development Group of Arizona, LLC.

OFFICE – 2355 E. CAMELBACK RD., PHOENIX
The Money Source has subleased approximately 20,000-square-feet of Class A office space at 2355 E. Camelback Rd.  This marks the company’s second office lease in Phoenix during 2016. “The Money Source is committed to attracting and retaining the best employees in the Valley and plans to hire approximately 450 employees this year in Metro Phoenix,” says Greg Hopley, executive vice president with Colliers International in Greater Phoenix.  “The prestigious 24th & Camelback location offered them the ideal site to attract the best financial, mortgage-minded workers in the metro area.” Hopley represented The Money Source in the lease negotiations.  Tim Whittemore of Cushman & Wakefield represented the sublessor, Jacobs Engineering.  The building is owned by Teachers Insurance and Annuity Association of America.  The Money Source, a New York and San Francisco based company, is one of the fastest growing and largest privately held mortgage companies in the United States.  The firm leased space in Tempe earlier this year and has already hired almost 200 employees.  The Money Source’s continued growth in Arizona led to the Camelback Corridor lease.  “This presented an excellent subleasing opportunity for The Money Source,” says Hopley.  “The company has a lengthy remainder on the lease term and plans to hire approximately 250 additional employees with this additional office.”  The Money Source took occupancy of the space this month. The leased space is located on the 7th floor of the Class A office building on the southwest corner of 24th Street and Camelback Road.  Built in 2001, the Class A building is conveniently located across the street from Biltmore Fashion Park and the newly opened Camby Hotel.  The Money Source was attracted to the fact that this location was just minutes from Sky Harbor International Airport, Interstate 51 and Downtown Phoenix.  Located in the heart of the prestigious Camelback Corridor, the building is part of a submarket that is home to more than 8.7 million square feet of commercial space and approximately 35,000 office jobs.

OFFICE – 10631 S. 51^st ST., PHOENIX
Andrew Veatch and Troy Giammarco with NAI Horizon represented the tenant, Cholla Medical Group, Inc., in a 52-month office lease for a 6,264-sqaure-foot space at 10631 S. 51st St., Phoenix, AZ 85044. Richard Burton with Realty Arizona Elite Group represented the landlord, Wilson Properties, LLC.

INDUSTRIAL – 3919-3925 E. MIAMI, PHOENIX
Isy Sonabend with NAI Horizon represented both tenant and landlord, Vanco, LLC and PAZ Holdings, LLC in a 60-month industrial lease for a 5,354 -square-foot space at 3919-3925 E. Miami, Phoenix, AZ 85040

RETAIL – 2131 E. CAMELBACK RD., PHOENIX
Chris Gerow, Shelby Tworek, Gabe Ortega and Patrick Anthon with NAI Horizon represented the tenant, Ken’s Nails-Salon & Spa, in an 88-month retail lease for a 2,300-sqaure-foot space at 2131 E. Camelback Rd., Phoenix, AZ 85016.

OFFICE – 4150 W. PEORIA AVE., PHOENIX
Nathan Pancrazi and Troy Giammarco with NAI Horizon represented the tenant, Arizona Life Chiropractic, in a 65-month office lease for a 2,298-square-feet of space at 4150 W. Peoria Ave., Phoenix, AZ 85029. The landlord, Tlaquepaque Office Plaza, Inc., was self-represented.

OFFICE – 4200 N. MARSHALL WAY, SCOTTSDALE
Laurel Lewis of NAI Horizon represented the tenant, Atwell Group, in a 38-month office lease for a 2,250-square-foot space at 4200 N. Marshall Way, Scottsdale, AZ.

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.