PHOENIX, AZ – TriWest Healthcare Alliance has leased the entire 119,131-square-foot office building at 16010 N. 28^th Ave. to accommodate its expansion for handing its recently awarded contract with the Department of Veterans Affairs.

The company, which had previously occupied a portion of the building as its corporate headquarters, has committed to extend its lease and expand into 55,000 square feet with the remainder of the facility, totaling 119,131-square-feet.

“This lease represents one of the largest office space transactions in Metro Phoenix for 2014,” said Larry K. Downey, Vice Chairman with Cushman & Wakefield. Downey serves as exclusive agent for TriWest Healthcare.

The building is located within the four-building Marconi Research Park, situated in Deer Valley.  Marconi Research Park provides direct access to Interstate 17 and the property’s corporate neighbors include Farmers Insurance, Paychex, NAU and Deer Valley Credit Union.

“The facility’s current location is extremely accessible to TriWest’s clients and employees.  The office layout and build out of the current facility is extremely efficient based on TriWest’s office space requirements,” according to Downey.

TriWest Healthcare recently was awarded a five-year contract to administer the VA Patient-Centered Community Care (VAPC3) program.  TriWest, which specializes in providing benefits to military members and their families, announced the awarding of the contract last fall.  This expansion, which is necessary to accommodate growth, will result in the addition of approximately 275 employees.

Downey of Cushman & Wakefield represented TriWest in the lease negotiations.  Ashley Brooks, Jim Bayless and Jenny Aust of CBRE serve as exclusive leasing agents for Marconi Research Park and its landlord, Sabel Financial Group of Newport Beach, CA.

The following leases were reported during the week of August 25-29, 2014 to the Phoenix Lease Report:

OFFICE – 101 CORPORATE CENTER, PHOENIX, AZ
CBRE has completed two office leases totaling 67,335-square-feet in Metropolitan Phoenix. The leases are representative of new office requirements by the State of Arizona for the newly created Child Safety and Family Services agency (CSFS).

A 26,265-square-foot, full-floor space in West 101 Corporate Center, which is owned by Los Angeles, Calif.-based Regent Properties and located at 1860 N. 95^th Lane in Phoenix, will service CSFS’s West Valley clients. 1860 N. 95^th Lane is a three-story, class A office building located within the West 101 Corporate Center master-planned business park. The property benefits from proximity to more than 1- million-square-feet of retail amenities, including Gateway Pavillions and Gateway Crossing. The building also has immediate access to the I-10 and Loop 101 freeways. The tenant, whose lease agreement brings the property to 72 percent leased, will take occupancy in early November.

The second location is a 41,070-square-foot office building at the Corridors business park, formerly owned by Chicago, Ill.-based The Alter Group and recently purchased by Los Angeles-based Adler Realty Group. Located at 1925 W. Pinnacle Peak Rd. in Phoenix, this location will service North Phoenix.

An 80-acre business park, Corridors currently features single-story buildings as well as land for expansion and build-to-suit opportunities. Located near the southeast corner of Pinnacle Peak Road and the I-17 freeway, the park benefits from proximity to more than 1.7 million square feet of retail amenities. Current tenants include Chubb Insurance, Arizona State Credit Union, Syntellect, Bechtel, Belcan Engineering, Kutta Technologies and Performance Software. The Child Safety and Family Services lease, whose operations will take occupancy in early December, brings the business park to 88 percent leased

Jim Bayless, Ashley Brooks and Jenny Aust with CBRE’s Phoenix office negotiated the long-term lease transactions on behalf of Regent Properties and The Alter Group. The State of Arizona was represented by Chris Corney with JLL’s Phoenix office.

RETAIL – 624 W. BROADWAY RD., MESA, AZ
A lease for 3,560-square-feet at Broadway Mesa Center – 624 W. Broadway Rd in Mesa, AZ to Pueblo de Dios Church was recently consummated. The owner of the center is Broadway Mesa Center,LLC. Jared Lively of Rein & Grossoehme represented the owner and the tenant on this transaction.

RETAIL – 3310 S. McCLINTOK DR., TEMPE, AZ
A lease for 2,100-square-feet at Walgreens Plaza – 3310 S. McClintock Dr. in Tempe, AZ to Fancy Pets Dog Grooming was recently consummated. The owner of the center is Worrell Family Trust, LLC. Jared Lively of Rein & Grossoehme represented the owner and the tenant on this transaction.

RETAIL – 1515 N. GILBERT RD., GILBERT, AZ
A lease for 1,610-square-feet at Encore Plaza was recently consummated. The location of the property is the SEC of Baseline/Gilbert Rd., in Gilbert, AZ. Darling Donuts is set to open its 1^st location in Arizona, taking the 1,610-square-feet at this vibrant shopping plaza. The opening is scheduled for November 1^st, 2014. Jim Edwards of Rein & Grossoehme represented the owner and Tom Belk of KW Commercial represented the tenant.

RETAIL – 20820 E. ELLSWORTH RD., QUEEN CREEK, AZ.
A lease for 1,200-square-feet in Queen Creek Marketplace Shopping Center to Blackbird Music was recently consummated. The location of the property is the SWC of Power Rd. and Chandler Heights Rd. in Queen Creek, AZ. Blackbird Music has been in business for 6 years and is relocating from a location on San Tan Blvd. The owner of the center is Grace Properties. Jim Edwards of Rein & Grossoehme represented the tenant and Justin Haefner of Strategic Retail Group represented the tenant on this transaction.

OFFICE – 16150 N. ARROWHEAD FOUNTAIN CENTER DR., PEOPIA, AZ
A lease for 1,197-square-feet in Arrowhead Fountain Center office building to State Farm Insurance/Bryce Crawford was recently consummated. The location of the property is 16150 N. Arrowhead Fountain Center Dr. in Peoria, AZ. Bryce Crawford has been in business for over 5 years and is relocating from Union Hills and 51^st Ave. Jim Edwards of Rein & Grossoehme represented the tenant and Tim Watters of CBRE represented the owner on this transaction.

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Matrix Absence Management’s U.S. headquarters will relocate into a 65,502-sqare-foot office at Desert Canyon 200 in Phoenix, Ariz. The three-story, class A office building located on Desert Canyon Campus will be the new home.

A subsidiary of the Tokio Marine Group, Matrix is a nationwide company that works with employers to provide customized management of disability, workers’ compensation and family leave programs. Matrix plans to relocate its current Phoenix operations from Lakeside Center at 11225 N. 28th Drive. The new location at Desert Canyon 200 will also operate as Matrix’s U.S. headquarters.

Previously occupied by American Express, the space will undergo a total renovation before Matrix takes occupancy in the spring of 2014. The company will occupy the entire second and third floors.

Located at 2421 W. Peoria Ave., a quarter mile from the I-17 freeway, Desert Canyon 200 is part of the three building Desert Canyon Campus. Originally developed by the Alter Group in 1999, each building at the campus was eventually sold off individually. The Alter Group continues to handle property management of Desert Canyon 200.

The property has convenient access to Metrocenter area amenities, including hotels and restaurants. It features fiber optics and offers a lush campus environment. The first floor, totaling 33,000-square-feet, is fully vacant and available for lease.

Jim Bayless, Ashley Brooks and Jenny Aust of CBRE’s Phoenix office represented the landlord, REEF Desert Canyon, LLC, in negotiating the lease agreement. The tenant, Matrix Absence Management of San Jose, Calif., was represented by Steve Corney of Jones Lang LaSalle’s Phoenix office. The exact terms of the transaction were not disclosed.

“This deal is a good indicator of the improving metro market and it’s a particularly good deal for the Metrocenter submarket,” said CBRE’s Bayless. “The increasing shortage of quality, large blocks of contiguous space mean that properties like this one will continue to be in high demand. Large users are going to find it increasingly difficult to find amenity-rich space to meet their needs and the market will eventually have to respond with new development.”

For more information, Bayless, Brooks and Aust can be reached in CBRE’s Phoenix office at (602) 735-5555.

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