Marking one of the largest Metro Phoenix leases to sign since the onset of the COVID pandemic, office experts from the Phoenix office of JLL have completed a 30,000+ square-foot downtown Phoenix office lease for CVO Holding Company LLC (CVO), an industry-leading transportation technology provider.
CVO will relocate and expand its corporate headquarters from its existing downtown Phoenix offices into Block 23 at Cityscape, downtown Phoenix’s newest and most advanced high-rise, mixed-use project by Red Development and Street Lights Residential. In total, Block 23 consists of 230,000 square feet of Class A office space; The Ryan, a 332-unit luxury urban apartment community; and 15,000 square feet of retail and restaurant space. It also includes downtown Phoenix’s first and only full-scale grocery store, a 67,000-square-foot Fry’s Signature Marketplace.
Phoenix-based CVO has 25 years of experience working with state and provincial agencies across North America to design, implement and support enforcement initiatives that promote safety throughout the transportation industry. The company has more than 200 employees at its Phoenix headquarters. It will relocate to Block 23 in Spring 2021.
“We couldn’t be more excited to continue enjoying the energy and innovation that comes from officing in downtown Phoenix and we are taking that to the next level at Block 23. From having direct access to the grocery store to an amazing open-air recreation area, our employees are going to experience the unparalleled work environment they deserve,” said Skip Kinford, President and CEO of CVO.
Located at 101 E. Washington St., the office tower’s main entrance is at the southeast corner of Washington Street and 1st Street. The newest office building constructed in downtown gives tenants the largest and most efficient floorplate in the market, combined with 16 feet of floor-to-floor exterior glass and ceiling heights.
“The driving force behind the creation of The Downtown Innovation District was to attract and retain amazing companies like CVO,” said Christine Mackay, Director of Economic Development for the City of Phoenix. “The City is thrilled with their renewed commitment and expansion in downtown. This is a major tangible example of the strength and resilience of downtown and RED Development’s tireless effort to reimagine what is possible in downtown Phoenix.”
“It’s rarely a single element that persuades a company to make a long-term commitment and investment like CVO did in selecting Block 23 for its future corporate headquarters. That’s why we knew we had to do something more than just live, work, play at Block 23. We created an office product that was not in the market and the demand proves there was a need for something different,” said Mike Ebert, Managing Partner at RED. “From concept to completion, attracting best-in-class tenants like CVO was the driving force for the Block 23 design and development.”
CVO joins existing Block 23 tenants including WeWork, Ernst & Young U.S. LLP, Fry’s Food Stores, Chase Bank, and Blanco Tacos & Tequila, opening this fall.
JLL Managing Director Ryan Timpani and Senior Associate Nick Bialkowski represented RED Development in the lease agreement. Chuck Nixon of CBRE represented CVO.