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Brokerage Firm Leases Floor at New Office Tower

PHOENIX-One of the largest stock brokerage firms in the nation has leased a floor in a $50-million Class A office tower that's under development by Opus West at the tony corner of 24th Street and Camelback Road in Phoenix.

By D.J. Burrough | Updated on April 24, 2001

PHOENIX-A major stock brokerage company is locating a finance and brokerage office on ground zero at a tony Valley address.

PaineWebber, one of the nation’s largest brokerage firms, leased 24,400 sf in Camelback Esplanade V, a 10-story, 230,000-sf Class A office tower at 2555 E. Camelback Rd. in Phoenix. The 10-year lease has a consideration of between $7 million and $8.5 million, based on the prevailing rate for Class A office space along the Camelback Corridor.

Opus West, developer of the $50-million tower currently under construction, has built three of the last office towers on the site. The building is expected to be available by early next year.

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