Office Archives

2017 outlook: Getting creative with offices

WebPT recently opened up offices in Downtown Phoenix's Warehouse District, renovating an old warehouse, creating a unique and open office space for its employees. (Photo by Mike Mertes, AZ BIG Media)
by in AZRE Magazine | Office

For the office market, the latest trend is in spaces designed to be creative, collaborative and flexible. Newer developments emphasize flexible layouts, open spaces, upgraded common areas and amenities to create a more attractive work environment. The highest office rental rates for Class A office space are still found in the downtowns of Phoenix, Scottsdale… Read More →

5 myths about renewing your office lease

StartUp PHX Challenge
by in AZRE Magazine | Office

When renewing your office lease, there are some common myths floating around out there. Don’t fall for them. 1. MYTH: We have a great relationship with our landlord or landlord’s broker FACT: The landlord’s objective is to maximize profits and shift economic and non-economic risk to the tenant. The landlord’s advisor has a fiduciary obligation… Read More →

Report: Phoenix office absorption reaches 10-year high

Phoenix
by in AZRE Magazine | Office

Phoenix added millions of square feet of new office space in 2016, and companies filled that space at a near 10-year-high absorption rate, according to the Q4 2016 Phoenix Office Insight report released last week by the Phoenix office of JLL. Collectively, this activity improved the Valley’s office occupancy picture, pushing total vacancy rates down 120 basis points… Read More →

CoreNet Global Arizona to analyze creative office spaces

creative offices
by in AZRE Magazine | Office

CoreNet Global Arizona is hosting a January lunch focused on “Understanding the Creative Office” with a panel of experts at the Phoenix Country Club. The lunch and panel will be held on Thursday, Jan. 26, beginning at 11:30 a.m. The price is $35 for CoreNet Global Arizona members and $70 for non-members. Registration is available… Read More →

Renaissance Square sells for $151.25 million

Renaissance Square
by in AZRE Magazine | Office

A joint venture group purchased Renaissance Square, a two-tower office and retail plaza in Downtown Phoenix, for $151.25 million, a source close to the deal reported. In an announcement the new ownership group released Wednesday, future plans call for a $50 million upgrade to the office towers, with plans to update the lobbies, plaza and indoor/outdoor tenant conference center… Read More →

Building featured in Hitchcock’s ‘Psycho’ intro sold for $5M

Psycho intro
by in AZRE Magazine | Office

The historic Heard Building in Downtown Phoenix was sold to a California investment firm by One Twelve North Central LLC for $5 million, according to Cushman & Wakefield. Montana Avenue Capital Partners purchased the property, located at 112 N. Central Ave., in Phoenix. The Heard Building is an eight-story 65,531-square-foot historic office building on Central Avenue… Read More →

SanTan Corporate Center sells for $58.5 million

SanTan Corporate Center
by in AZRE Magazine | Office

Columbia Property Trust Inc. exited the Phoenix market as it sold the SanTan Corporate Center for $58,500,000 million, according to a Thursday announcement. City Office REIT purchased the SanTan Corporate Center, a Class A office property near Ray and Price Roads, which consists of two office buildings totaling 267,000 square feet. Columbia Property Trust sold the… Read More →

Offices near ASU purchased to serve as tech firm HQ

Offices near ASU
by in AZRE Magazine | Office

Offices near ASU, a 26,750-square-foot facility at the University Tech Center, sold for $3,798,500 in an off-market transaction, and will be used as a tech firm’s headquarters, according to Lee & Associates. iT1 Source chose the offices, at 1860 W. University Dr., near ASU to source a talented workforce from the state university. iT1 was formed in 2003… Read More →

Software firm repurposing former Chandler grocery store

software firm
by in AZRE Magazine | Office

A Washington-based software firm is opening a second office location in Arizona, and will repurpose a former grocery store in Chandler for its new offices, according to NAI Horizon. Faithlife Corporation has an office in Tempe, and found a new location within downtown Chandler’s urban redevelopment area at the former grocery store. The store used… Read More →

4-story offices sell for $5.5M near 7th Street and Bethany Home Road

The 4-story office in Phoenix near 7th Street and Bethany Home Road at 5727 N. 7th Street in Phoenix. (Photo courtesy of Davis Enterprises)
by in AZRE Magazine | Office

A four-story, 46,326-square-foot multi-tenant office building located at 5727 N. 7th St. in Phoenix has sold for $5.5 million, according to Davis Enterprises sellers of the building. The buyer, Gary Hewson Jr. of Hewson Investment Group, acquired the property and was represented by Patrick Burch of ABI Multifamily. The 2.26 acre property is in the middle of… Read More →

Westgate will add more than 100 jobs with newest office tenant

Westgate entertainment district
by in AZRE Magazine | Office

Westgate Entertainment District will welcome more than 100 new jobs when its newest office tenant, Ring, opens a Customer Service Center at the district in March 2017. This will be the second Valley location for California-based security company, which has a location in Scottsdale. Ring’s flagship product, Ring Video Doorbell, is a unique security solution… Read More →

CBRE helps Liftable Media buy new corporate HQ

CBRE
by in AZRE Magazine | Office

Digital publisher Liftable Media Inc. purchased approximately 27,000 square feet of office space at Venture Court, located in the heart of Anthem, Arizona, for $1.98 million, according to CBRE. Originally constructed in 2008, Venture Court Building F is a 2-story office space that prior to being purchased by Liftable Media remained in shell condition. West Coast… Read More →

Orcutt | Winslow relocates HQ next door on Central Corridor

Orcutt | Winslow
by in AZRE Magazine | Brokerage | Office

The Phoenix office of JLL has completed a 21,390-square-foot, long-term lease that relocates the corporate headquarters of Orcutt | Winslow into a new building on the Central Corridor, continuing the architecture, planning and interior design firm’s decades-long presence in metro Phoenix’s Central Business District. The new lease moves Orcutt | Winslow from Phoenix Corporate Center, at 3003 N. Central Ave., into… Read More →

Norris Design taps into Downtown Warehouse District via relocation

Norris Design's Phoenix offices will be located at 901 E. Madison St. in the heart of the Downtown Phoenix Warehouse District. (Photos provided by Norris Design)

Norris Design, a national landscape architecture, planning, and project promotion firm decided the best way to capitalize on the growth of the Phoenix Metro market was by moving into the heart of it. The company recently purchased a warehouse — located just east of Chase Field and totaling 12,400 square feet — at 901 E. Madison St., which it plans to renovate… Read More →