Hines leases 90% of Kierland One

Real Estate | 12 Jul |

Hines, the international real estate firm, announced today that Kierland One is 90% leased.

Only about 17,000 square feet of the 175,441-square-foot office building is still available for lease. Hines has recently finished a building refresh of Kierland One, renovating the lobby and updating the exterior paint.

“The strong leasing interest at Kierland One is a testament to the highly desirable location and the investment Hines continues to make in the building,” said Chris Anderson, senior managing director and Arizona leader for Hines.

Kierland One is a Class A office building located in the Kierland submarket. Situated on 11 acres, the four-story building, 16430 N. Scottsdale Road, is across from the Promenade Shops, within the Kierland master-planned development. Hines acquired Kierland One in 2013 with joint venture equity partner Pacific Coast Capital Partners (PCCP).The surrounding area has attracted many banks and financial organizations and is located near the Scottsdale Quarter, Kierland Commons and the Westin Kierland Resort & Spa.

The following lease transactions recently took place at Kierland One to bring the building to 90%:

Carlisle Companies Expands Global Headquarters

Carlisle Companies, which has its global headquarters at Kierland One, has expanded to accommodate continued growth. The Fortune 1,000 company is located on the entire fourth floor and will move into additional space on the third floor.

Chris Koch, Carlisle’s president and chief executive officer said, “We are extremely pleased to expand Carlisle’s headquarters in Scottsdale, Arizona. After moving to Scottsdale in 2016, we launched Vision 2025, our strategic plan in which we will drive to $8 billion of sales, 20% operating margins, and 15% ROIC. Expansion of our Scottsdale headquarters demonstrates continued execution of our long-term goals by Carlisle’s dedicated 14,000 employees.”  

SmithGroup of Phoenix is designing a tenant improvement project expected to be finished in early 2020. The contractor has yet to be selected. The CBRE team of Michael Strittmatter, Luke Walker and Brad Anderson represented Hines. Tom Adelson with Newmark Knight Frank represented Carlisle Companies.

OSIsoft Triples Office Space

OSIsoft, a software, operations and intelligence business consultant and current Kierland One tenant, is tripling its office space to meet upcoming growth projections and will move to the third floor from the first floor. The CBRE team of Michael Strittmatter, Luke Walker and Brad Anderson represented Hines. Chris Krewson with Newmark Knight Frank represented OSIsoft.

Enchantment Group Inks New Lease

Enchantment Group, a hospitality company, recently signed a lease at Kierland One to begin operating space on the second floor this month. The CBRE team of Michael Strittmatter, Luke Walker and Brad Anderson represented Hines. Chris Walton with Cresa represented Enchantment Group.

Other tenants at Kierland One include: Bradley Wealth Management, Primary Residential Mortgage and Kansas State Bank. A new 1,700-square-foot Coffee Bean is located on a parcel near the building and is scheduled to open this summer.

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