Tag Archives: Larry Downey

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C&W negotiates long-term lease for telemarketing company

Cushman & Wakefield of Arizona, Inc. negotiated a long-term sublease for DialAmerica Marketing, Inc. at Riverpoint, located at 3100 E. Broadway Rd.

The transaction is for a new DialAmerica call center in the Valley. DialAmerica, headquartered in Mahwah, N.J., will occupy 50,267 square feet of office space at Riverpoint Building No. 2. The company’s lease has taken effect and operations are being DialAmerica is one of the nation’s largest outbound and inbound contract call center companies. It has 21 call centers throughout the U.S.

“The central location, along with the existing buildout that included furniture, fixtures and equipment in place, was a perfect ‘plug-and-play’ opportunity in getting their operation up and running,” said Larry Downey, Vice Chairman | Tenant Advisory Group with Cushman & Wakefield of Arizona.

Downey represented DialAmerica in the transaction. The sublessor, the University of Phoenix, was represented by John Bonnell, Brett Abramson and Matt Hersh of JLL.

“It was a pleasure working with Larry Downey and the entire Cushman & Wakefield team,” said Vito Porcelli, Property Manager for DialAmerica. “Subleases can be very tough when working with multiple parties, but they managed to complete this deal in record time.

DialAmerica is in the process of hiring up to 150 agents between now and the end of the year and they will enjoy working in a state-of-the-art call center.”

dial

Cushman & Wakefield negotiates DialAmerica lease in Phoenix

Cushman & Wakefield of Arizona, Inc. negotiated a long-term sublease for DialAmerica Marketing, Inc. at Riverpoint, located at 3100 E. Broadway Rd.

The transaction is for a new DialAmerica call center in the Valley. DialAmerica, headquartered in Mahwah, N.J., will occupy 50,267 square feet of office space at Riverpoint Building No. 2. The company’s lease has taken effect and operations are being DialAmerica is one of the nation’s largest outbound and inbound contract call center companies. It has 21 call centers throughout the U.S.

“The central location, along with the existing buildout that included furniture, fixtures and equipment in place, was a perfect ‘plug-and-play’ opportunity in getting their operation up and running,” said Larry Downey, Vice Chairman | Tenant Advisory Group with Cushman & Wakefield of Arizona.

Downey represented DialAmerica in the transaction. The sublessor, the University of Phoenix, was represented by John Bonnell, Brett Abramson and Matt Hersh of JLL.

“It was a pleasure working with Larry Downey and the entire Cushman & Wakefield team,” said Vito Porcelli, Property Manager for DialAmerica. “Subleases can be very tough when working with multiple parties, but they managed to complete this deal in record time. DialAmerica is in the process of hiring up to 150 agents between now and the end of the year and they will enjoy working in a state-of-the-art call center.”

OLYMPUS DIGITAL CAMERA

Chris Toci named top producer at Cushman & Wakefield

Cushman & Wakefield of Arizona, Inc. has announced its top producers for 2014.  For the second straight year, Chris Toci, executive director in the Capital Markets group, led the Phoenix office.

Toci negotiated investment sales totaling $290.4 million and approximately two million square feet in a variety of property types, including corporate campuses, Class A office buildings and a notable adaptive reuse project in Tempe.

The largest single transaction closed by Toci was an $85.1 million, 332,815-square-foot sale of Anchor Centre in the Camelback Corridor. Another significant deal was the $51 million, 337,439-square-foot sale of an office portfolio for American Express.

Other top producers include:

• Multifamily Advisory Group: Jim Crews;

• Office Group: Larry Downey and Mike Sayre;

• Investment Properties: Chad Littell and Chris Toci;

• Industrial Group: Jackie Orcutt and John Grady;

• Tenant Representation: Don Rodie, Blaine Black and Sam Murik.

“We are very proud of all our Top Producers this year,” said Jerry Noble, Market Leader and Managing Broker for C&W of Arizona.  “In 2014 Cushman & Wakefield participated in several transactions that helped shape the market. We are privileged to serve so many great clients and look forward to a strong market in 2015.”

Camelback Commons, CushWake, WEB

Premier Business Centers inks 1st Arizona lease

Cushman & Wakefield of Arizona, Inc. has negotiated a lease on behalf of Premier Business Centers for its first opening of executive office suites in Arizona, located at Camelback Commons, 4742 N. 24th St.

The company, which is headquartered in Irvine, Calif., has signed a 10-year lease for 13,516 square feet on the third floor of the building.  The company plans to open its executive suites facility in March 2015.  The Premier Business Center will include 53 executive suite office spaces, two meeting rooms, a day office, kitchen and reception area.

“We are excited to enter the Arizona marketplace and provide our services to the state’s growing business community,” says Jeff Reinstein, Chief Executive Officer of Premier Business Centers.  “This is the first of several locations we plan to open in dynamic business corridors within the city.”

“This particular building provides a great central location in the Camelback Corridor, which is very appealing to executives who operate small companies or are in an incubation phase of their businesses,” says Larry Downey, Vice Chairman of Cushman & Wakefield.
Premier Business Centers, LLC is one of the country’s leading operators of executive suites and office centers.  Offering more than 70 locations throughout the United States, Premier Business Centers provides professional work environments that can be rented by the hour, day, month or year.

Downey exclusively represented Premier Business Centers in the site selection search and lease negotiations.  John Bonnell and Brett Abramson of JLL represented MS MCC Highland, LLC., owner of Camelback Commons.

TriWest-MRP, WEB

TriWest Healthcare expands Phoenix HQ

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

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.

4127 E. Van Buren

Prosper Marketplace expands into Phoenix

Cushman & Wakefield of Arizona, Inc. negotiated a 17,998-square-foot lease for Prosper Marketplace, a peer-to-peer lending company that opened a new office at Airport Tech Center, 4127 E. Van Buren St.

It is the first office outside the company’s San Francisco headquarters. The Prosper platform connects people who want to borrow money with people who want to invest money, offering an alternative to traditional banking institutions.

“They initially toured over 20 locations and buildings,” said Larry Downey, Vice Chairman for Cushman & Wakefield of Arizona. “Airport Tech Center gave Prosper Marketplace a central location within the city and great access to the transportation freeway corridors. This is a very functional building for them and gives them the flexibility and room to expand within the project.”

Located minutes from Phoenix Sky Harbor International Airport, the new location is currently recruiting, with plans to expand to 40 employees in its first year. The office will eventually employ about 150 people.

“The Prosper platform has grown more than 400 percent over the past year, and we expect continued growth in 2014. Prosper Marketplace is excited to open a new office in Phoenix to support our growth, and we are looking forward to being part of the local business community,” said Josh Tonderys, Chief Risk Officer, Prosper Marketplace.

“We are encouraged by the expansion of companies like Prosper Marketplace,” said Barry Broome, president and CEO of the Greater Phoenix Economic Council. “The new jobs that will be available at the Phoenix office show a transformative shift from traditional back office jobs, providing exciting new opportunities for the existing technical talent in the region.”

Downey and Curtis Chickerneo of Cushman & Wakefield represented the tenant. The landlord, Arden Realty Limited Partnership, was represented by Jerry Roberts and Corey Hawley of CBRE. Occupancy is in late July.

shops at esplanade

2 new restaurants opening at Esplanade

Cushman & Wakefield today announced the opening of two new restaurants at The Shops at Esplanade, located on the southeast corner of Camelback Road and 24th Street.  The new tenants are part of Esplanade owner, MetLife, and Cushman & Wakefield’s efforts to revitalize the property’s retail presence.

“We have worked diligently with MetLife to attract an exciting and successful blend of restaurants and retailers at the property that will suit this market,” said Jon Cowen, Senior Director at Cushman & Wakefield.  “The Camelback Corridor provides a fabulous market opportunity for the correct tenants and we’re pleased that ownership’s plan is coming to fruition.”

Pearl Live!, a Scottsdale–based company, will open a sushi restaurant with live entertainment.  Pearl Live! at the Esplanade will be the second sushi/entertainment concept for renowned restaurateur, Jimmy Carlin.  The Esplanade location will feature a large, outdoor patio, an indoor/outdoor bar, and live music.  Situated directly across from the Ritz Carlton, the space was previously occupied by Morton’s Steakhouse. Mr. Carlin plans to cater to the business lunch and happy hour crowds, but also provide an upscale venue at night.  Bob Tam, former corporate chef for PF Chang’s and current Director of Culinary Operations for Maven Hospitality Group (who recently opened The Strand Urban Italian in downtown Phoenix), will be responsible for the creation of Pearl Live!’s menu.  The approximate 7,977 square foot sushi restaurant is slated to open in May.

Solo Trattoria, a new concept from Chicago-based Gemstone Café Group, plans to open their doors at the Esplanade in mid February.  Brittany Harrison of Catalyst Commercial represented the tenant in this transaction, bringing the company’s first location to Arizona.  The Modern Italian restaurant leased approximately 2,555 square feet of space which was previously occupied by Picazzo’s Pizza.  Solo Trattoria, with its cozy and inviting ambiance, will feature fresh tasting Italian food, including Naples style thin crust pizza, authentic pastas, imported cheeses, and wine and beer.

Jon Cowen and Summer Jackson of Cushman & Wakefield serve as exclusive leasing agents for the Shops at Esplanade, while Larry Downey, Jerry Jacobs, and Michael Crystal lease the available office space for property owner MetLife.

Larry Downey

Larry Downey Named Vice Chairman at Cushman & Wakefield

Cushman & Wakefield announced Larry Downey has been named Vice Chairman, a title reserved for an elite few throughout the firm’s worldwide offices.

The distinction marks the first time in the 25-year history of the company’s Phoenix office that an individual has been assigned that designation.

“The Vice Chairman title honors Cushman & Wakefield professionals who stand out as top performers, both in production and fulfilling the core values of our firm,” says Tom Johnston, senior managing director of Cushman & Wakefield of Arizona, Inc.

“In order to be considered for this distinction, professionals must not only be perennial top producers, but exhibit leadership, a genuine commitment to collaboration, mentorship of our future leaders, exemplary client reviews, and a strong history of dedication to charitable causes. Over the years, Larry has excelled in each category and elevated the importance of the Phoenix market to the firm.”

Larry Downey is a 28-year veteran of the commercial real estate industry. He represents both tenants and building owners.