Ryan Companies adds 1M square feet to Southwest portfolio
Ryan Companies’ real estate management and building services team announces the addition of more than 1 million square feet to the Southwest management portfolio. The new assignments include four buildings owned by EverWest Real Estate Investors, LLC, Missouri Falls and Phoenix Corporate Tower.
Balfour Pacific Capital Inc., in partnership with Ryan Companies, recently acquired Phoenix Corporate Tower, a 457,893 square foot, 26-story, high-rise building in Midtown Phoenix. Ryan is partnering with Lee & Associates and Balfour Pacific to attract and retain tenants through capital renovation and attentive ownership.
“We have been impressed with the exceptional track record that Ryan Companies has here in the Phoenix market and throughout the country,” said Mark Scott, Managing Partner, Balfour Pacific. “Ryan quickly understood our needs and worked to transition the property seamlessly.”
Ryan Companies is now managing Missouri Falls, a 190,419 square foot, class A office building at the intersection of Seventh Street and Missouri Avenue. The ENERGY STAR building, recently acquired by El Dorado Holdings, Inc., is nearly 90 percent occupied with 19 tenants including Republic Bank of Arizona and Nexstar Broadcasting Group. The management team is onsite and has introduced concierge-level services to the tenants.
“Ryan’s core values and local market expertise aligned well with our firm’s goals and culture,” said Chris Grogan, Partner, El Dorado Holdings, Inc. “Their involvement during the due diligence process helped foster a smooth transaction and seamless transition into ownership.”
Since 2015, Ryan Companies has provided building services for four EverWest-owned buildings. Based on a mutually beneficial relationship, the team was tapped to expand the scope of work to full real estate management services for the 400,000 square foot portfolio. The buildings vary in size and are in Gilbert, Tempe, Scottsdale and Phoenix.
Ryan Companies’ building engineers have worked on several high-level projects for EverWest and were heavily involved in tenant improvement oversight of the Circuit, a 185,000 square foot adaptive re-use office in the Smith Industrial Innovation Hub. The multi-tenant building is currently on the market.
“As a real estate owner, design-builder and developer, our real estate management team brings unmatched insights to property and leasing management,” said Alisa Timm, Regional Director of Management and Building Services, Ryan Companies. “Our office portfolio operates over a dollar less per square foot than the national average in utility costs—we are proud to provide this added value to our current and new partners.”
Ryan Companies was awarded an additional 600,000 square feet in California and Washington; increasing the overall west division management portfolio to an excess of 5 million square feet. Ryan Companies provides proactive management and building services across the United States and currently has a management portfolio of more than 15 million square feet.