The Phoenix office of JLL has signed Freedom Financial Network, LLC (FFN) to lease one of two 45,000–square-foot buildings at Tempe 10/60 Corporate Center, a recently redeveloped office project in Tempe, Arizona. The lease will allow FFN to expand its neighboring Tempe operations within an efficient block of space to accommodate continued growth.
Tempe serves as a secondary office for San Mateo, California-based FFN, a company providing comprehensive financial solutions for consumers struggling with debt.
“The objective of the Tempe 10/60 redevelopment was to create a flexible, high-density, open office environment that could accommodate a very busy, high-employee-count company. In fact, a company just like FFN,” said JLL Managing Director Karsten Peterson, who represented the landlord along with JLL Managing Directors Dave Seeger and Mark Gustin, and Associate Matt Gandolfo. “It is rewarding to have that process come full circle; to see this space shift from ineffective to very effective square footage, and to be matched with the kind of organization that it was designed to serve.”
Tempe 10/60 Corporate Center is located at 4415 – 4625 S. Wendler Dr., alongside Interstate 10 and just south of the I-10/Superstition Freeway interchange. Built in 1985, the campus originally totalled 110,000 square feet in two 45,000-square-foot, two-story buildings and one 20,000-square-foot, single-story building. In 2014, property owners Greenlaw Partners and The Broe Group redeveloped the project, demolishing one of its three buildings to create a two-building development and increase on-site parking ratios from 5:1,000 to 7:1,000.
Through its new lease, FFN now occupies all of the 45,000-square-foot, 4625 S. Wendler Dr. building. The lease brings the property to 50 percent occupied. The project’s north building, consisting of an additional 45,000 square feet, is available for lease.
FFN was represented in its lease by JLL Senior Managing Directors Pat Williams and Steve Corney, Vice Presidents Vicki Robinson and Andrew Medley, and associate Chris Corney.
Tempe 10/60 Corporate Center features a creative exposed ceiling environment with spiral metal ductwork and slab-to-deck ceiling heights ranging from 15 feet to 22 feet, a 10-foot window line, generous landscaping, immediate freeway visibility, and access to Interstate 10 via Baseline Road. It is minutes from the I-10/US-60 interchange, Arizona Mills Mall, Sky Harbor International Airport and Arizona Grand Resort.
According to JLL’s recently released North America Banking Outlook, Phoenix ranks fifth for the percent of overall market real estate space occupied by the banking and finance industry, and ranks third among North American markets that have regained the most financial services jobs. The rankings call Phoenix out as a hub of national and international financial activity, where the sector remains one the fastest growing – and largest job producers – in the Valley, gaining 10,000 new banking and finance jobs in the past two years alone and serving as a key factor in pushing the area’s office vacancy rates below 15 percent (approximately 7 percent lower than metro Phoenix’s average) in “hot” submarkets like Tempe.
