CoStar’s Power Broker Quarterly Deals – Office Lease
Prominent office leases signed by CVO Holding Company, Loan Depot and Bright Health negotiated by top dealmakers from JLL, NAI Horizon and CBRE are among the third quarter office leases recognized by CoStar.
As big ticket items involving sizable investments, commercial property transactions often have a wider impact within the community. Beginning this year, CoStar is recognizing the largest leases completed each quarter and the dealmakers who made them happen in their respective markets.
Here are the Phoenix office leases selected as the third quarter 2020 winners of the CoStar Power Broker Quarterly Deal Awards:
TOP LEASE: Block 23 at Cityscape, 101 E. Washington St., Phoenix, AZ
Space Leased: 31,622 SF
Deal Type: New Lease
Sign Date: August 20, 2020
Size: 297,000 SF
Tenant: CVO Holding Company
Brokers Involved: Ryan Timpani and Nick Bialkowski of JLL represented the landlord. Chuck Nixon of CBRE represented the tenant.
Deal Commentary: Transportation technology firm CVO Holding Co. committed to relocate its corporate headquarters to Block 23 at Cityscape in downtown Phoenix next spring. The large mixed-use project by Red Development and Street Lights Residential. In total, Block 23 consists of 230,000 square feet of office space, a 332-unit apartment complex called The Ryan, and 15,000 square feet of retail and restaurant space. It also includes downtown Phoenix’s first full-scale grocery store, a 67,000-square-foot Fry’s Signature Marketplace.
TOP LEASE: 2120 E. Rio Salado Parkway, Tempe, AZ
Space Leased: 28,000 SF
Sign Date: August 12, 2020
Size: 100,102 SF
Tenant: Bright Health
Brokers Involved: Ryan Bartos of JLL represented the landlord. Troy Giammarco and Joe Pequeno of NAI Horizon represented the tenant.
Deal Commentary: Medical provider Bright Health agreed to take a block of sublease available in Building 1 in the RIO2100 office complex.
TOP LEASE: 1840 N. 95th Ave., Phoenix, AZ
Space Leased: 26,661 SF
Deal Type: New Lease
Sign Date: August 17, 2020
Size: 65,353 SF
Tenant: Jewish Family & Children’s Service-West Valley
Brokers Involved: Greg McMillan and John Pompay of Cushman & Wakefield represented the landlord.
Deal Commentary: Jewish Family & Children’s Service-West Valley, a health care and social assistance company, leased over 26,500 square feet in The Humphreys Company’s West 101 Business Center.
TOP LEASE: Pima Northgate, 14000 N. Pima Road, Scottsdale, AZ
Space Leased: 23,490 SF
Deal Type: New Lease
Sign Date: September 16, 2020
Size: 144,959 SF
Tenant: LCD
Brokers Involved: Greg Mayer, Tim Whittemore, Chris Nord and Pat Schrimsher of Cushman & Wakefield represented the landlord.
Deal Commentary: LCD, an engineering company based in Phoenix, signed a new lease and is expected to move into over 23,000 square feet in Pima Northgate. The office complex is owned by Denver-based Miller Global Properties.
TOP LEASE: The Mesa Tower, 1201 S. Alma School Road, Mesa, AZ
Space Leased: 18,410 SF
Deal Type: Renewal
Sign Date: July 31, 2020
Size: 311,132 SF
Tenant: IQVIA
Brokers Involved: Matt Nebeker and Colton Trauter of Lee & Associates represented the landlord. Jamie Swirtz of CBRE represented the tenant.
Deal Commentary: IQVIA, a healthcare company specializing in clinical research and technology, renewed its lease in the Barker Pacific Group’s Mesa Tower.
TOP LEASE: Forever Corporate Plaza, 7501 E. McCormick Park, Scottsdale, AZ
Space Leased: 13,576 SF
Deal Type: New Lease
Sign Date: September 16, 2020
Size: 83,000 SF
Tenant: One American Bank
Brokers Involved: Jason Reddington and Keri Davies of LevRose Real Estate represented the landlord.
Deal Commentary: One American Bank, a financial institution that was founded 137 years ago in South Dakota, will be opening an office in Scottsdale’s Forever Corporate Plaza.
TOP LEASE: Thunderbird Paseo Medical Plaza, 5601 W. Eugie Ave., Glendale, AZ
Space Leased: 13,049 SF
Deal Type: New Lease
Sign Date: August 25, 2020
Size: 58,332 SF
Tenant: Banner Medical Group
Brokers Involved: Rachael Thompson and Michael Dupuy of Kidder Mathews represented the landlord.
Deal Commentary: Banner Medical Group, a healthcare provider based in Chandler, Arizona, signed a third quarter lease for more than 13,000 square feet at the Thunderbird Paseo Medical Plaza in Glendale.
TOP LEASE: 1333 S Spectrum Blvd, Chandler, AZ
Space Leased: 34,945 SF
Deal Type: New Lease
Sign Date: August 1st 2020
Size: 69,100 SF
Tenant: Loan Depot
Brokers Involved: Mark Krison, Luke Krison, Brad Anderson & Mike Strittmater represented the landlord.
Deal Commentary: Loan Depot, a mortgage lender based in Phoenix, signed a new lease and moved into over 34,000 square feet at this location in the Allred Park Place Central office complex.
TOP LEASE: 15551 N. Greenway Hayden Loop, Scottsdale, AZ
Space Leased: 12,664 SF
Deal Type: New Lease
Sign Date: September 4, 2020
Size: 97,538 SF
Tenant: Solidifi Title & Closing
Brokers Involved: Ryan Timpani and Nick Bialkowski of JLL represented the landlord.
Deal Commentary: Solidifi Title & Closing, a mortgage lender headquartered in Buffalo, New York, leased more than 12,500 square feet in the Lofts at the District for another top third quarter deal.