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California Firm Enters Phoenix With Five-Year Lease

PHOENIX-Wageworks, an employer-sponsored services provider, leases 10,922 sf for a regional office in a five-year deal valued at $1.1 million. The decision sets up a regional office in the Phoenix Technology Center.

By Jennifer D. Duell | Updated on October 05, 2004

PHOENIX-Wageworks, an employer-sponsored services provider, has leased 10,922 sf at 4129 E. Van Buren St. in the Phoenix Technology Center for five years. With the new lease, valued at $1.1 million, the San Mateo, CA- based company is establishing a regional operations center in Phoenix and will bring 75 new jobs to the Valley.

“This was a creative deal with a couple of big incentives such as only paying rent on a portion of the building for the first year and free workstations,” says Steve Kohls of Lee & Associates who represented Wageworks. Jerry Roberts of CB Richard Ellis Inc. represented the building owner, the Carlyle Group, which has since sold the 123,500 sf building to Lafayette, CA-based Bedford Property Investors Inc.

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