On behalf of California-based Silicon Valley Bank (SVB), the Phoenix office of Jones Lang LaSalle completed a 25,579 SF lease expansion in the Hayden Ferry Lakeside I office building in downtown Tempe.

The announcement brings SVB’s total leased space at the building to approximately 75,000 SF across three floors and currently makes it the largest tenant in the 10-story, Class A office property.

“Silicon Valley Bank is fulfilling its original expansion plans, which are going well and ahead of schedule,” said JLL Vice President Keith Lammersen, who represented SVB in the lease transaction along with JLL Vice President Jason Moore and Executive Vice President Jim Sadler.

The building owner, Parkway Properties, Inc., was represented by its Vice President and Managing Director Mat Mooney and Senior Property Manager Mark Sanford.

SVB signed its original lease at Hayden Ferry Lakeside I in early 2013, moving into 49,374 SF by mid-year. It uses the space for an IT and operations center and will use the additional space to continue to build the teams that are now located there.

“Our local talent, affordability and quality of life helped attract SVB to the Valley. Those factors continue to support the company’s local growth plan,” Lammersen said.