SimonCRE and One Stop Voice, headed by Scottsdale entrepreneur Joshua Simon, moved into a larger office space this month at a location at Scottsdale and Chaparral roads. The new office space more than doubles the square footage giving some much needed breathing room for the expanding businesses. The purposeful timing of the move capitalizes on market conditions of office rental spaces.
According to recently published data, office vacancy has dropped to 21.4 percent in Phoenix. In large part this is due to overall employment increasing, which has created more jobs within companies that need room for growth. During the first quarter of 2013, office rent per square foot was at a six-year low, then changed direction in the second quarter with a 3.1 percent increase. In the third quarter rental rates are expected to continue to climb. Based on the data, it appears that the worst is in the past and that the market is entering a more Landlord-friendly environment. For Tenants, this means that the timing it good to now lock in rental rates with multi-year contracts.
“We paid particular attention to a couple of major factors before pulling the trigger on a larger office space,” explains Simon on the timing of his recent move. “One of those factors was that we wanted to make sure a larger office space was a prudent fiscal decision for both SimonCRE and One Stop Voice. We had the ability to make a move sooner, but waiting until now was a better answer for us. As importantly, we had a clear physical need for more space and amenities.”
The new office space covers more than 4,000 square feet with significant conveniences built-in. In their former location, community spaces were converted into offices because business growth demanded it. Now, the staff has ample room with dedicated space for both SimonCRE and One Stop Voice. A large reception area welcomes guests and comfortable conference room offers dramatic views of Camelback Mountain. The completely remodeled suite is a professional environment that is well-suited to the growing team.
The new address headquarters both Simon companies: SimonCRE and One Stop Voice. SimonCRE is a commercial real estate development firm that caters to regional brands searching to expand their reach. The firm specializes in shopping center development and redevelopment opportunities, as well as build-to-suit and single tenant projects. They have successfully completed projects across the United States. Cloud-based communications systems company One Stop Voice champions VoIP, or Voice over Internet Protocol communications for corporate clients. Because of the cutting-edge technology offered, the firm has experienced significant growth.