Tag Archives: parkway properties

hayden_ferry_lakeside

Zenefits continues rapid growth with new Tempe office building

Zenefits, the free, cloud-based human resources technology company that automates and eliminates HR administrative work for businesses, has announced that due to its rapid growth and hiring it has signed a 10-year lease for a large, new office in Tempe, which will be its second office site in greater Phoenix.

The San Francisco-headquartered company will move into a newly constructed building in Tempe’s Hayden Ferry complex this fall. Zenefits will occupy five floors (135,000 square feet) in the building owned by Parkway Properties, Inc.

“With small businesses across the country wanting to take the HR headaches out of managing their companies, the demand for our HR automation software is off the charts,” said Parker Conrad, CEO and co-founder of Zenefits. “With this fast growth, we need more people to join our team – and a place to put them. We are delighted that we found such a great space here in Arizona.”

The Tempe office which will mirror the careers they’re hiring for in San Francisco — account managers, executives, benefits advisors, HR specialists, operations personnel, sales representatives, and client support staff. The Tempe office will ultimately house more than 1,000 employees. Zenefits already has 600 employees in the Scottsdale office it opened in November.

Zenefits is a free, cloud HR automation platform that makes it effortless to manage a business and its employees by automating all of the associated HR administrative work: compliance, on-boarding, payroll updates, health insurance, and other employee benefits.

Zenefits is widely considered to be the fastest-growing SaaS company in history. In May, the company announced that it had raised $500 million in Series C funding, at a $4.5 billion valuation. Zenefits has more than 10,000 business customers and serves 100,000 employees in 48 states.

Zenefits’ arrival in Arizona last year was the largest expansion from a California-based tech company into the greater Phoenix region since PayPal in 2010.

The expansion in Tempe will enable the company to meet the needs of its rapidly increasing customer base.

“Zenefits initial footprint for market entry has since exceeded expectations, as they expand within one of the hottest tech markets in the U.S. with a new location in Tempe,” said Chris Camacho, president and CEO of the Greater Phoenix Economic Council. “The leadership demonstrated within the greater Phoenix region from leaders such as Phoenix City Councilmember Kate Gallego and Mayor Greg Stanton, Scottsdale Mayor Jim Lane, and Tempe Mayor Mark Mitchell, is to be celebrated as we welcome the expansion of one of the fastest growing tech companies.”

Zenefits currently employs more than 1,000 people, up from just 15 at the beginning of 2014.

Matt Coxhead and Ryan Bartos of Savills Studley represented the growing startup in their lease negotiation along with co-broker, Jon Dishotsky Custom Spaces, who represents Zenefits globally.
Economic Forecast

IREM, CCIM announce 9th annual CRE Economic Forecast

IREM and CCIM will present the 9th annual commercial real estate Economic Forecast at the Tempe Center of the Performing Arts on Thursday, Jan. 15, 2015. IREM and CCIM will begin the program by honoring Jerry Colangelo, who will be recognized as the Person of the Year by the organizations.

The panel discussion will be moderated by Peter Bolton of Newmark, Grubb, Knight, Frank. Each panel member will discuss their area of expertise as it relates to the current commercial real estate environment and then predict, based on the metrics of the commercial real estate business, achievements by year’s end.

The program will begin at 8 a.m. and continue until noon. The program will include;
Jerry Colangelo Program Honor

Multi-Family Panel
o    Cindy Cooke – Colliers International
o    Mark Schilling – MEB
o    Tom Lewis – Alliance

Office Panel
o    Jim Fijan – CBRE
o    Chris Toci – Cushman & Wakefield
o    Matt Mooney – Parkway Properties

Retail Panel
o    Judi Butterworth – Velocity Retail
o    Greg Laing – Phoenix Commercial Advisors
o    Pat McGinley – Vestar

Industrial Panel
o    Stein Koss – Lee & Associates
o    Tony Lydon – JLL
o    Mark Singerman – Rockefeller Group

The Tempe Center of the Arts is located at 700 W Rio Salado Parkway, Tempe, Ariz., and more information on the 2015 IREM/CCIM Economic forecast can be found here.

Hayden Ferry Lakeside II Office Tower

CBRE Completes $86 Million Sale of Hayden Ferry Lakeside II Office Tower

The Fortune 500 and S&P 500 company, CBRE, has completed its $86 million sale of the Hayden Ferry Lakeside II property.

The property is located at 60 E. Rio Salado parkway in Tempe. The seller remains undisclosed and was represented by CBRE’s Brad Anderson and Bryan Taute, along with Kevin Shannon, Todd Tydlaska and Ken White from the firm’s California office.

CBRE’s Jim Fijan, of Phoenix, represented the buyer, who also owns the adjacent Hayden Ferry Lakeside I and is an affiliate of Parkway Properties.

The Hayden Ferry Lakeside II is a 12-story Class A multi-tenant office building and is located within a 1.6 million square feet project. This project includes offices, retail and residential condominium units. The building, built in 2007, was 95% occupied at the time of sale.

The location of the building creates for a vibrant environment for tenants, as it is set along Tempe Town Lake, and is surrounded by countless dinning and shopping venues on the Mill Avenue entertainment district.

“The Phoenix office leasing market has turned and is gaining momentum. It was one of only eight office markets nationally that absorbed over 1.8 million square feet in 2011, with much of that absorption focused in Class A office assets like Hayden Ferry Lakeside. This transaction again demonstrated capital’s continued desire for core office product.” said CBRE’s Shannon.

Taute added, “The significant lease up over the last 18 months and subsequent sale is a testament to the quality of the building. We anticipate leasing demand for this project to continue for the foreseeable future.”

For more information on the largest commercial real estate services firm (in terms of 2011 revenue), visit their website at www.cbre.com.

The company, with nearly, 34,000 employees, provides services for real estate owners, investors, and occupiers.