RED announces 1st office tenant at Block 23

Real Estate | 6 Nov, 2018 |

Construction at Block 23 in Downtown Phoenix is moving at a rapid pace as RED Development’s mixed-use destination, which includes the area’s first grocery store, continues to take shape with completion slated for the end of 2019.

Many know Block 23 as the future home to Fry’s Food Stores’ innovative, urban grocery concept that will be the most technologically advanced grocery store in the state. The development also includes a 230,000 square-foot office building, ground-floor restaurants and retail, approximately 330 apartments by StreetLights Residential and above- and below-grade parking.

Today RED announced its first office tenant, Ernst & Young U.S. LLP (EY), that plans to open a 20,000 square-foot office at Block 23 in late 2019.

“There’s an unmistakable energy happening right now in Downtown Phoenix that makes it a prime location for our employees to work and live,” said Ron Butler, Phoenix office managing partner, Ernst & Young LLP. “The Block 23 office building offers our people energizing and efficient workspaces supported by cutting edge technology that enables our people to work fluidly, both in and out of the office. We look forward to continuing to anchor our Arizona office in Phoenix’s thriving downtown core.”

Jerry Roberts and Pat Boyle of Cushman & Wakefield’s agency leasing group negotiated the lease on behalf of RED Development. Larry Downey and Brett Thompson of Cushman & Wakefield’s tenant advisory group represented Ernst & Young.

Ernst & Young’s new office will be located on the top floor of the six-story building. They will be relocating from their current location at Renaissance Tower in January 2019.

“It’s a great opportunity to be on the top floor of a new building, the first new construction in Downtown in many years,” said Larry Downey.

Block 23’s office building boasts the largest floor plates in Downtown Phoenix that average 45,000 rentable square feet and provide the opportunity for large and small users to maximize their occupancy efficiency. The building’s 16-foot, floor-to-ceiling perimeter walls are made entirely of glass, which will allow office tenants, like EY, to enjoy an abundance of natural light. Tenants are encouraged to expose their ceilings and all associated mechanical systems to take advantage of this unique core and shell construction condition.

As of mid-October, RED topped out concrete construction on the five levels of the shared apartment, retail, grocery and office podium. The individual office and apartment tower construction has begun and will move at a much faster pace than the previous floors. The office tower will top out in January of next year and the apartment tower February.

Focused on community, creativity and commerce, Block 23 continues RED Development’s commitment to the urban core of Phoenix and marks CityScape’s expansion to 2nd Street.

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