The following commercial leases were reported to the Real Estate Daily News for the Phoenix Lease Report from February 27 thru March 3, 2017.

OFFICE – 2600 N CENTRAL AVE., PHOENIX, AZ
CMOC International has recently signed a 7-plus year, 16,299-square-foot office lease at 2600 Tower, 2600 N. Central Ave., Phoenix.  Lee & Associates Associate Michael Marsh, Principals Craig Coppola and Andrew Cheney and Associate, Gregg Kafka, negotiated the transaction on behalf of CMOC. JLL brokers represented the property ownership, Adler Realty Investments, Inc., Woodland Hills, CA. CMOC International is a worldwide molybdenum and tungsten mining company based in the People’s Republic of China. The Phoenix office will house an office management center. They are moving from a Camelback Corridor location. Built in 1982, 2600 Tower offers light rail service directly along Central Ave., high-quality amenities, abundant parking, expansive city views and numerous cultural and dining venues within walking distance.

RETAIL – SEC ELLIOT & DOBSON, CHANDLER, AZ
A lease for 3,050-square-feet at Elliot Square to Cellular Sales of AZ was recently consummated.  The location of the property is the SEC of Elliot & Dobson in Chandler, AZ.  Jim Edwards of Rein & Grossoehme represented the owner.

RETAIL – SEC 107^TH AVE & GRAND, SUN CITY, AZ
A Retail Lease for 1,583-square-feet within Kings Inn Center at SEC of 107^th Ave & Grand in Sun City, AZ to Great Clips was recently consummated. The owner of the center is Kings Inn of Sun City, LLC.  Jared Lively of Rein & Grossoehme represented both the Landlord and the Tenant on this transaction.

PHOENIX, AZ –  Owners of Renaissance Square, Downtown Phoenix’s iconic office towers at 2 and 40 N. Central Ave., have engaged Lee & Associates, RSP Architects and Wespac Construction to completely reimagine the nearly one million square foot Class A property.

The ownership group, a joint-venture between funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and Cypress Office Properties, LLC (“Cypress”), has selected Lee & Associates (“Lee”) as exclusive leasing representatives for the property.  Lee Principals, Craig Coppola, Bill Blake, Andrew Cheney, Colton Trauter and Associate, Gregg Kafka, were named the office brokers for this project.

“We are honored to work on leasing up this landmark property undergoing a major renovation.  The new owner’s vision and significant capital commitment will transform Renaissance Square into the best office location in Phoenix” said Coppola.

Oaktree and Cypress have also tapped RSP Architects and Wespac Construction to create a modern vision for the property. Along with a complete redesign of the lobbies, the property will undergo a renovation of all common area spaces, with the addition of new collaborative work spaces, an indoor/outdoor conference center and tenant lounge to replace a rooftop tennis court.

“We are excited to be working with Lee, RSP and Wespac who have each successfully transformed other high-profile assets and share our commitment to making Renaissance Square Phoenix’s premier office property,” said Mark Jacobs, Managing Director of Oaktree.

“As a trusted design partner, we are excited for the opportunity to co-create a new identity for these late-1980’s buildings in conjunction with Oaktree, Cypress and Wespac,” said Alissa Franconi, Senior Associate of RSP Architects. “With the reposition and location in the heart of Phoenix’s central business district, Renaissance Square will once again take its place as a jewel for Downtown.”

The trophy asset, located at the intersection of Central Ave. and Washington St. in the heart of Downtown Phoenix, already offers unparalleled features and nearby world-class amenities. The property features six on-site restaurants, abundant parking and 24-hour security. There are over 40 restaurants within 250 feet of the property, 11 professional sports and entertainment venues within 1,000 feet and a Metro light rail station at the property’s front door. Additionally, there are 25 multi-family developments with over 3,400 units within one mile and walking distance to most Downtown courthouses.

For more information, Coppola should be contacted at 602.954.3762, Cheney is at 602.954.3769, Blake at 602.954.3761, Trauter at 602.474.9503 and Kafka can be reached at 602.954.3777.

Phoenix, Arizona – The Quad, a fourteen-building, 166,606-square-foot office project in the heart of Scottsdale, Ariz., has two new companies to add to its tenant roster. The creative, class A property will soon be home to San Francisco-based Opendoor and Scottsdale-based Forward Tilt.

Bryan Taute and Charlie Von Arentschildt with CBRE’s Phoenix office negotiated the leases on behalf of the landlord, EverWest Real Estate Partners. Opendoor was represented by Tiffany Winne with Savills Studley and Forward Tilt was represented by Craig Coppola with Lee and Associates.

“Opendoor and Forward Tilt are perfect examples of tenants whose vision aligns with the creative nature of The Quad,” said CBRE’s Taute. “As Phase I nears completion and we get ready to kick off construction of Phase II, activity and interest will only increase in the project.”

Opendoor will take an entire 12,546-square-foot building in Phase I of The Quad. The tech-based real estate sales platform first launched in Phoenix in 2015 and most recently closed on a $210 million funding round to close out 2016.

Forward Tilt is a locally owned commercial furniture dealership that will be taking 8,278- square-feet of office space to house its headquarters and showroom. Forward Tilt is currently located in Scottsdale, AZ. This premier Allsteel dealership also represents more than 100 different manufacturers and supplies furniture to commercial, educational, healthcare, and hospitality clients in Arizona and around the country.

“Our company is about creating spaces and environments that showcase our clients’ cultures and support the employee experience,” said Michelle Heeb, Principal, Forward Tilt. “With that in mind, we were particularly conscious of how our new home would impact our culture and employee experience. Everwest has created an environment that is truly unmatched, and we look forward to calling The Quad home.”

The Quad is one of the latest redevelopment plays by the Colorado-based Everwest. The firm has made a name for itself in recent quarters with its success in repositioning older projects into top-tier, highly sought after office addresses.

“Opendoor is one of Arizona’s fastest growing tech startups, and Forward Tilt is a prime example of the creativity and drive of local entrepreneurs,” said Amr Ceran, senior director with EverWest. “Their vision validates the gap in the market for this type of creative concept that drew us to redevelop The Quad in the first place.”

Phase I of The Quad is comprised of six office buildings and one “amenities” building, which will house a soon-to-be-announced restaurant, a fitness center, a tenant amenity area, and Everwest’s Phoenix office. Phase I is currently 28 percent pre-leased and is set to deliver in February. Upon its completion, Phase I will offer 29,360-square-feet of spec suites.

Phase II of The Quad is comprised of seven office buildings, totaling 12,546-square-feet each, and will start construction in March. Those buildings are slated to deliver in October of this year.