Cushman & Wakefield announced that Spencer Fane has leased 8,502 square feet at Esplanade, located at 2425 E. Camelback Road in Phoenix. The tenant signed an 18-month full-service gross lease for $38.00 per square foot from LBA Realty.
The 11-story, 235,077-square-foot office building is phase one within the mixed-use Camelback Esplanade, located at the southeast corner of 24th Street and Camelback Road. Jeff Hartland of Cushman & Wakefield represented the tenant in the lease transaction. Jerry Roberts of CBRE represented the landlord.
“The Esplanade is the perfect location to best serve our clients,” said Andy Federhar, Phoenix office managing partner. “We are committed to making this location a base from which we will expand our presence in Phoenix.”
Spencer Fane established a Phoenix office as part of the firm’s growth strategy. In 2016, the company announced similar growth with new offices in Dallas, Texas and Oklahoma City, Okla., and also has offices in Colorado, Kansas, Missouri and Nebraska.
“Spencer Fane is committed to expanding our operations to markets and regions that are important to our clients so that we continue to comprehensively meet their needs,” said Pat Whalen, managing partner at Spencer Fane. “As many of our clients have commenced operations in Phoenix, we have embraced the market and are dedicated to making it a priority of our own.”