Clear Commercial Advisors will be handling the office and retail leasing for the historic Ellis Building, located at 135 N. 2nd Ave. in downtown Phoenix, which is being developed by Equus Development Corp.
Citifarms, an indoor vertical farm focused on growing microgreens and other leafy greens hydroponically in a controlled environment, is the first retail tenant to sign with the project. The company plans to open a vegetarian restaurant, in addition to vertical gardens, in 4,200 square feet of space.
The Ellis building was first constructed in 1922 with four stories and an additional two stories were added in 1928. The exterior of the building was updated in 1962 to compete with new buildings being developed in the area. In 1991, the building was purchased by the City of Phoenix and served as city office space for two decades.
In 2015, the Phoenix City Council directed city staff to sell the 58,382-square-foot building, which was ultimately purchased by Equus Development Corp. in 2019 and is currently undergoing several million dollars of major renovations to become a vibrant mixed-use project with restaurants, co-working space and a speak easy in the basement.
“The building will be brought back to its former glory with an art deco flavor and will expand on the healthy living and lifestyle concepts that Equus develops,” said Douglas Edgelow, president of Equus Development Corp.
Clear Commercial Advisors, a real estate investment firm and brokerage with a current portfolio that includes 15 Metro Phoenix properties, will be pursuing office tenants and retail amenities for downtown users, including food service businesses and other conveniences.
Clear Commercial Advisors, which owns the ground-floor retail/office space at The Summit at Copper Square in downtown Phoenix, is invested in the success of downtown Phoenix and looks forward to assisting with this downtown project.
“We represent several retail and office properties in downtown and are excited to lead the leasing effort on this property, which will bring noteworthy new tenants to the downtown core,” said Shane Mackin, partner at Clear Commercial Advisors. “We’re carving out a niche for our firm that focuses on supporting Phoenix’s urban core. It’s an exciting time for downtown residents and businesses.”
The Ellis building has approximately 50,000 square feet available for lease. For office/retail leasing information at the Ellis Building, contact Donny Peper at 602.638.1260 or Donny@clearcre.com.