Tempe One, Courtesy of Lee & Associates

May 21, 2015

AZRE

Home Depot signs 12-year back office lease

Lee & Associates Arizona announced the signing of a 12-year, 111,349 SF lease with The Home Depot USA, Inc. of Atlanta. The back office building known as Tempe One is located at 1717 W. 16th St. in Tempe. Move-in for the online call center is scheduled for Q4 of this year.

Rick Lee, Principal with Lee & Associates was the listing agent on the property, while Chris McClurg, Principal was the procuring broker who teamed with ICON Commercial of Atlanta who represents The Home Depot USA, as their sole tenant rep. The landlord is Tempe One Investors of Coconut Grove, Fla.

Tempe One previously housed Wells Fargo Home Mortgage.

“The building and the location are a great fit for The Home Depot who are very selective where they chose to do business. The area amenities and logistics proved to be a winner for them and for all parties involved,” said Lee.

The property is located in Northwest Tempe and provides ample public transportation and is close to Interstate 10 and the Hohokam Expressway as well as Arizona State University’s Main Campus. The area also features a densely-populated and educated workforce that is attractive to tenants like The Home Depot.

The property, originally developed in 1978 and renovated in 2008 features abundant 7:1,000 parking, 18’ clear height and will be entirely renovated to meet the needs of The Home Depot call center.