Plaza Companies closed out strong in 2012 with more than $25.7M in new leasing activity at its properties.
The leasing activity included a total of 125 new and renewed leases comprising 285,700 SF, a strong showing despite the continued challenges in the commercial and medical real estate markets.
The primary focus of Plaza’s leasing activity was medical office space, but the company also expanded its business development in commercial office, research and biotechnology and other key sectors.
The company also added several major properties to its leasing and property management portfolio, including new listings in the West Valley, Tempe, central Phoenix and Scottsdale markets.
The Plaza leasing team is led by Margaret Lloyd and Melynn Wakeman, who are the company’s vice presidents of Brokerage Services.
“Plaza is proud to complete a solid year for our leasing portfolio,” said Sharon Harper, President and CEO of Plaza Companies. “It was our 30th anniversary year, and 2012 was a great one for positioning our company for the future. As market conditions continue to improve, we are excited about the opportunities that are in front of us in 2013.
“We want to congratulate our leasing team for their hard work and great results in 2012, and we especially want to recognize and thank the medical and office brokers throughout the community who have worked with Plaza Companies this last year to service tenants and buildings. Plaza Companies and our team salute you.”
Plaza was also involved in several important new ventures, including BioInspire, a medical device incubator on the Plaza Del Rio Campus in Peoria built in partnership with BioAccel and the City of Peoria.
It also continued to enjoy strong occupancy at SkySong, The ASU Scottsdale Center, which is being developed by Plaza and leased by Lee & Associates. Construction began in August on the new apartments at SkySong.
“Plaza Companies will always seek out strategic partnerships and growth opportunities in a variety of sectors of the real estate market,” Harper said. “We appreciate the trust that our business partners have had in us over the years and are excited about the opportunities we’re starting to see in the market as a whole.”