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Insurance Firm Moving to 5,400-SF Office

SCOTTSDALE, AZ-Stiff competition makes re-tenanting class A and B office buildings a challenge--but not an impossibility--in Scottsdale. Such is the case for LeBaron & Carroll Insurance, which recently signed a five-year lease valued at $500,000.

By Lee Simmons | Updated on April 06, 2004

SCOTTSDALE, AZ-Strong rental rates for class A and B office buildings are breeding healthy competition among owners hoping to lease up existing multi-tenant properties. LeBaron & Carroll Insurance nonetheless has found a new home, leasing 5,455 sf in the Scottsdale Hayden office building in the southwest part of the city.

“We’ve been busy trying to do direct deals and re-tenant,” Adam Tolson, a broker with Lee & Associates Arizona in Phoenix, tells GlobeSt.com. Tolson represented both the tenant and owner, Saia Family of Tucson, in the transaction. “The competition is stiff. Class A rates seem to be really good right now.”

The 22-year-old, two-story Scottsdale Hayden office building is located at 3260 N. Hayden Road in the city’s southwest submarket. With the addition of LeBaron & Carroll Insurance, the 35,000-sf building’s present occupancy is 95%. The company plansan early May move-in.

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