The $500-million Collier Center, under construction in the heart of downtown Phoenix, will be the future home of Steptoe & Johnson LLP, one of the largest law firms in the state. The firm signed a 10-year lease for approximately 50,000-sf in the Class-A office building.
"The city's burgeoning economy, new courthouses and wealth of nearby cultural and entertainment options made the Collier Center and it's state-of-the-art facilities the best choice for our firm and our clients," says Lawrence Allen Katz, managing partner of the firm's Phoenix office.
The firm will relocate from its current office on north Central Avenue this spring. Two new courthouses recently opened in Phoenix's downtown core, a new city courthouse and the Sandra Day O'Connor Federal Courthouse, which was officially opened Monday.
Spanning 2.5 blocks, Collier Center is a $500-million project that will include 1.5 million-sf of Class-A office space in three towers; a major convention hotel, a 1,500-space, three-level below grade parking garage; and 90,000-sf of retail space. The project, bounded by Washington and Jefferson streets and First and Third streets, is adjacent to Bank One Ballpark and America West Arena.
Bank of America is signed on to lease approximately 200,000-sf in the 512,000-sf, 23-story tower in the first phase of construction. A dozen retail tenants have already signed leases, including Paradise Bakery & Café, Palomino Euro Café, Coffee People Inc. and Planet Wireless. The building is scheduled to be completed by early in this quarter.
Phoenix-based Opus West Corp. partnered with Naples, Fla.-based Barron Collier Company to develop the project.
"The firms decision to move to Collier Center reinforces the appeal of downtown Phoenix as a center of commerce, government and entertainment," says Opus West Vice President of Real Estate Development David Krumwiede.
Steptoe & Johnson is subleasing nearly all the space that had previously been leased by another law firm, Quarles & Brady.
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