Under the lease terms, brokered by Cushman and Wakefield of Arizona Inc., TriWest will double the size of its headquarters, to 119,131 sf.
TriWest is the largest Department of Defense contractor based in Arizona and was recently awarded a $10-billion contract to manage the DoD's managed-care program for 2.6 million military members, families and retirees in the 21-state TriCare West Region. TriWest also plans to open as many as 18 additional offices around the West to service the DoD contract.
Rapid expansion needed to manage the operational requirements of the new contract led TriWest to lease the space in the Arizona Business Park for a five-year term, which coincides with the length of TriWest's new DoD contract. The company, which currently employs 450 workers in Arizona and is expected to hire an additional 200 to 300 workers locally during the next six to nine months, will occupy four buildings in the Marconi Research Center at 15810, 15820, 15830 and 16010 N. 28th Ave.
TriWest's current headquarters covers approximately 66,693 sf at 15451 N. 28th Ave. TriWest will conduct a multi-phase move into its new headquarters. The first phase will involve 43,868 sf, beginning at the end of this year, with the entire relocation planned for completion in 24 months.
"We had a strong desire to remain within the Arizona Business Park, which has been home to TriWest since our inception as a company upon winning our first TriCare contract in 1996," says Larry Haggerty, TriWest's senior vice president and CFO. "The majority of our employees live in the communities surrounding our headquarters and a secondary facility in northwest Phoenix, so we're pleased that our growth needs, both now and in the foreseeable future, can be accommodated with a move 'next door' that will minimize disruption to our employees and our operations while consolidating our two Phoenix facilities under one roof."
Marconi Research Center is owned by locally based Estes-Samuelson LLC, which also owns TriWest's current headquarters building. Larry Downey, along with team members Jerry Jacobs and Gwen Musfeldt of Cushman & Wakefield, represented and negotiated the lease on behalf of TriWest Healthcare Alliance. Downey also is representing TriWest in efforts to open 18 additional offices in the Western US. Mike Beall and Tim Whittemore, both with Cushman & Wakefield, are the leasing agents for Marconi Research Center and represented the building owner in the negotiations.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
