Tag Archives: Pima Center

Plexus Worldwide breaks ground on national HQ

Plexus Worldwide, a leading direct-marketing weight-loss and health-supplement seller that was recently named #8 on the 2014 Inc. 5000 list of fastest growing companies, announced it will break ground on a 70KSF national headquarters office building at the MainSpring Capital project at Pima Center on March 30 at noon.

The company recently moved its warehouse operations to space it recently leased and occupied within an existing MainSpring Capital project at Pima Center which is adjacent to the new site.  At completion, Plexus Worldwide will have just more than 100KSF between the adjacent facilities.  Currently Plexus has several facilities located in and around the Scottsdale Airpark, all of which it has outgrown due its growth from less than $1M in annual revenue four years ago to more than $300M in 2014.

“Building our new headquarters adjacent to our warehouse facility allows us to create a functional campus where we can truly get the most out of each building design while increasing the coordination between our talented employee teams which currently work in various locations around Scottsdale,”  said Plexus Worldwide CEO Tarl Robinson. “Pima Center and the team at MainSpring Capital allowed us the flexibility to work with our own design build team while providing valuable assistance in working within the local jurisdiction to make this project happen. We looked at a lot of alternatives and the Pima Center/ Mainspring option clearly stood tallest.”

Several local dignitaries, including representatives from the Salt River Pima- Maricopa Indian Community and the Scottsdale Chamber of Commerce have been invited to attend and tours of the existing 30,000 warehouse facility will be available. Food and beverage will also be provided.

Plexus Worldwide currently has more than 200 employees in Arizona and more than 220,000 associates, which it calls Ambassadors, across the United States.

Pima Center is a 209-acre mixed-use business park designed and developed by Mainspring Capital Group. It is located at the 101 Freeway between the 2 diamond interchanges at Via De Ventura and Pima/90th Street. There are currently projects totaling over 1.3 million SF at Pima Center and the park boasts a company roster that includes First American Title, Stryker Orthopedics, Safeguard Security, Hemisphere GPS, Fluidic Energy, and PB Bell and Associates among others.

“We are really happy to be announcing the addition of Plexus Worldwide to our roster of companies at Pima Center”, said Marty Farnsworth of MainSpring Capital. “Their desire to create a project that balances function with aesthetics made them a perfect fit with Pima Center. The company has a great executive team, a phenomenal business model and we are looking forward to watching them accelerate their success in their new home”, said Mr. Farnsworth.

Plexus Worldwide was represented in the transaction by John Lokey of Ross Brown Partners, a leading commercial real estate services provider in the Phoenix Metropolitan area, and the project is being designed and built by LGE Design Build of Phoenix.

Pima, WBE

Ross Brown Partners Brokers Scottsdale Office Sale, CarVal Investors Re-Enters Market

Scottsdale based Ross Brown Partners, Inc. arranged the $50M sale of two premier Class A office buildings within Scottsdale’s Pima Center. The buyer was CV MainSpring Pima, LLC , a venture between CarVal Investors & Scottsdale based MainSpring Capital Group. Located at 9000 and 9200 E. Pima Center Pkwy., the two nearly identical three-story buildings total approximately 272KSF. Originally developed through a JV headed by Opus West, the buildings were owned by a joint venture between two institutional capital partners and MainSpring Capital Group, Pima Center’s master developer. The buildings were 91.5% leased to nine tenants at the time of sale Bob Crum of Ross Brown Partners, a 35-year veteran of the Phoenix commercial real estate brokerage community and former NFL player, brokered the transaction to the buyer. CarVal Investors is a leading global alternative investment fund manager. Since 1987, they have invested $71 billion in 4,680 transactions across 70 countries. Today, CarVal Investors has approximately $10B in assets under management in both credit and real estate strategies.

“This acquisition was strategically in line with CarVal Investors’ global philosophy of recognizing and capitalizing on opportunity while efficiently managing risk. These buildings exemplify that balance between current return and potential upside,” said Mr. Crum.

MainSpring and its affiliated companies own millions of square feet of office and industrial projects in Arizona, Colorado and Pennsylvania. In the Phoenix metropolitan area, MainSpring entities operate 1.3 MSF of office and industrial projects, 100 acres of developable commercial land, 800 acres of residential land and the Las Colinas Golf Club in Queen Creek. MainSpring Capital will remain as the local operating partner for the property on behalf of the CarVal venture.

Ross Brown Partners, founded in 1990, is a full-service real estate services company focusing on leasing, sales and management of office and industrial properties in the Phoenix market. “We’re excited about this closing,” said Curtis Brown, Principal at Ross Brown. “It is of significant economic value, but importantly also represents a milestone on the road to recovery for the market in general and Scottsdale/Pima Center specifically. Having an experienced and savvy institutional investor like CarVal show confidence in our firm, the project, and our marketplace is noteworthy.”