"Opus was far enough along with Phase I and they saw continued demand," says Mike Beall, a senior director with Cushman & Wakefield of Arizona Inc. He's teaming with C&W's James Wilson and Pat Harlan to market both projects.
The 124,300-sf Opus Cotton Center Phase I is now more than 62% preleased to tenants like InterTel, Arizona Office Technologies and Mortgage Information Services. Beall tells GlobeSt.com that 175,000 sf of proposals are out for spots in both phases. "I think that within a year, Phase II will be 90% leased," he says. The quoted rent is $13.80 per sf, triple net.
The second phase will sit on 11.5 acres between 40th and 48th streets in the Sky Harbor submarket. The buildings are scheduled to be completed during the fourth quarter 2005. The project was designed by Opus Architects & Engineers; general contractor is Opus West Construction Corp.
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