Nationally recognized marketing service agency LaneTerralever, is relocating from its 22,864 SF, Midtown headquarters at 725-733 W. McDowell Rd., Phoenix to a larger office at Missouri Falls, 645 E. Missouri Ave., Phoenix, where they signed a 7-plus year, 25,625 SF lease at the Class A office building. The firm will continue to lease back space until they relocate to Missouri Falls in early 2018.
Lee & Associates Principals Colton Trauter and Bill Blake represented the seller entities of the McDowell Rd. building which sold for $3,992,240 or $174.81. The team also represented LaneTerralever in the lease transaction at Missouri Falls.
Michael Strittmatter of CBRE, represented the Missouri Falls landlord, ICIC Commercial Investments 3, LLC, Phoenix, in the lease deal.
Built in 1986, Missouri Falls is a 4-story, 187,446 SF office property in the
popular 7th St. Corridor which features many new restaurants, bars and retail options. LaneTerralever’s premier space is located on the top floor of the building, with outdoor patios and views of Camelback Mountain. The agency will have the option to grow into the remaining 12,000 SF on the top floor. The Smith Group will lead the build-out for the redesigned space.
In 2013, E.B. Lane, a advertising and public relations agency and Terralever, a digital marketing firm, merged to form LaneTerralever. In 2016, the company merged with the Phoenix office of Cramer-Krasselt, creating the state’s largest independent firm.
“The move to Missouri Falls offers LaneTerralever a first-class space with many amenities in a highly desirable location,” said Trauter. “The space also allows them to continue to grow while maintaining a company culture which was nationally recognized by AdAge as a ‘Best Place to Work.’ ’’