"There's a lot of demand for class A space in Deer Valley," says James Bayless of CB Richard Ellis Inc.'s Phoenix office. "The vacancy rate is just 9% and there's just not a lot of supply there."
Bayless tells GlobeSt.com that no lease agreements have been inked yet, but there are several companies negotiating for space. The asking rental rate is $22 per sf to $23 per sf. He and CBRE's Ashley Brooks are marketing the development.
E&V, headed by Vito Ancona, expects to deliver the two-story building by May 2005. Ancona Office Building was designed by Scottsdale, AZ-based Patrick Hayes Architecture and Phoenix-based Wespac Construction Inc. is the general contractor. Bob Beardsley at Southwest Commercial Brokerage is consulting with Ancona on the spec building.
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