While a COVID-stricken economy has halted many large metro Phoenix leases, mid-size deals continue to make a significant impact at experiential projects like CASA, George Oliver’s Class A creative office redevelopment in Phoenix’s popular Uptown neighborhood.
In the span of a few months, the 181,000-square-foot development has signed more than 20,000 square feet in new office leases and is in the process of delivering its next phase of move-in-ready speculative office suites, with two of those suites pre-leased prior to completion. Together the activity brings CASA, which delivered in December, to 75 percent leased.
Companies moving to CASA come from a wide range of submarkets, indicating that the building’s new tenants are breaking down local barriers and looking outside of traditional or preferred geographical locations to find this unique type of product.
“Metro Phoenix is clearly still in flux and adjusting to COVID, but CASA has remained very active on the leasing front and is approaching a fully occupied scenario with companies coming from all over – from downtown and midtown, North Scottsdale and Paradise Valley,” said Curt Kremer, Founder and Managing Partner of Phoenix-based George Oliver. “Office users continue to crave well-amenitized office communities and they are willing to consider a move outside of their submarket to find it.”
The newest leases at CASA include:
• Bay Equity, leasing 4,582 square feet
• Coterie Advisors, leasing 4,234 square feet
• Jack Capital, leasing 4,041 square feet
• Canyon Home Care, leasing 2,910 square feet
• American Energy Group, leasing 2,249 square feet
• Forrest Logistics, leasing 2,130 square feet
Jack Capital, Canyon Home Care and American Energy Group now occupy their space at CASA. The remaining tenants will move in during the third quarter, joining existing tenants Rockwell Automation, The Money Store, Olsson, Phoenix Association of Realtors, North & Co. and local favorite Kaleidoscope Juice, which operates an on-site café and lounge serving organic food, coffee and juice.
One 4,618-square-foot spec suite remains available at CASA. Two more spec suites, totaling 6,002 square feet and 5,001 square feet, are delivering in September and will include fully furnished options and forward-thinking design features like spacious work areas with access to natural light, glass-front private offices, exposed ceilings in open workspace areas, conference rooms with decorative lighting fixtures and soundproofing, and modern finishes throughout the space. CASA also has four co-working suites available for immediate move-in. All co-working suites are fully furnished with access to shared conference rooms and breakrooms, a private coworking lounge, high-speed internet access, and a full-time concierge.
“CASA’s amenity package accelerates a company’s ability to recruit and retain talent,” said JLL Managing Director Ryan Timpani, who serves as the project’s exclusive leasing broker along with JLL Senior Associate Nick Bialkowski. “From the start, that advantage has been a driving factor in tenant decisions to relocate to CASA from locations across the Valley.”
Of the 10 leases signed at CASA since its renovation, Timpani notes that nine are from out of the project’s submarket.
Located off of the Piestewa Freeway/State Route 51 and Northern Avenue, at 7878 N. 16th Street, CASA mixes modern Spanish architecture with lifestyle amenities designed around health and wellness.
Some of these amenities include a 60-guest conference center, library and wellness center with a yoga room, fitness center and an on-site meditation room. Two centralized courtyards with water features serve as hubs for relaxation and collaboration. CASA also includes a dog park and a two-story dining experience with dedicated food truck parking, shaded outdoor dining and outdoor game and lounge areas.
George Oliver purchased the CASA building, previously known as Catalina Terraces, in December 2018. For more, visit www.uptowncasa.com.