RED Development is welcoming two new tenants to Block 23 in Downtown Phoenix — CVO Holding Company, an industry-leading transportation technology provider, along with Western Alliance Bank as it expands its downtown presence, in what marks the completion of one of the largest Phoenix-metro leases since the onset of the pandemic.
CVO moved its Phoenix headquarters and 200 of its employees to the 31,622-square-foot office located on the fifth floor in late March. The Phoenix-based company 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. CVO is at the forefront of driving change in transportation industries by providing innovative, cloud-native technology that allows for greater connectivity between vehicles and control systems.
“CVO is proud to take its place as a leader playing an instrumental part of the energetic resurgence of downtown Phoenix. Our employees overwhelmingly voted to maintain our presence here, we listened and are excited about our collective future in this thriving and dynamic environment,” said Skip Kinford, president and CEO of CVO Holding Company.
Additionally, Western Alliance Bank is expanding its downtown footprint by leasing the entire sixth floor at Block 23 with a 45,541-square-foot space that is set to open in early 2022 to accommodate the more than 700 employees working in Downtown Phoenix. The latest growth is on the heels of an expansion at its CityScape Phoenix headquarters earlier this year, which created 110 new seats for staff. The company’s local banking division, Alliance Bank of Arizona, is the state’s largest locally headquartered banking division and offers a full spectrum of loan, deposit and treasury management capabilities.
“In addition to increasing our footprint in a way that brings additional office spaces and collaborative areas to better serve our clients, Block 23 firmly plants Western Alliance Bank in the heart of downtown’s newest and most vibrant mixed-use development as we plan for the future,” said Tim Boothe, chief operating officer of Western Alliance Bank.
Block 23 is a live-work-play destination in the heart of Downtown Phoenix. Its sleek office tower and luxury apartments are conveniently placed above Fry’s Food and Drug, downtown’s only full-scale grocery store. Block 23 is centrally located only steps away from downtown dining and entertainment venues at CityScape Phoenix, Phoenix Suns Arena and Chase Field.
“CVO’s move to Block 23 further underscores Phoenix as an emerging location for tech companies and Alliance Bank’s new expansion is the latest evolution of our strong partnership,” said Mike Ebert, managing partner at RED Development. “As more people return to working in an office setting, developments such as Block 23 are instrumental in striking the balance between work and play that employees crave with its close proximity to the best of downtown.”