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Healthcare Provider Downsizes at Metro Executive Park

PHOENIX-Value Options chooses to stay put at Metro Executive Park, but shaves about 20% of its class B office space. The new deal sets up a 12,761-sf office lease with a 10-year term and $1.1-million payout.

By Jennifer D. Duell | Updated on June 10, 2005

PHOENIX-A behavioral healthcare service provider has renewed 12,761 sf of class B office space at Metro Executive Park, downsizing by almost 20%. The 10-year pact puts $1.1 million into the pockets of building owner, Scottsdale-based Covington Asset Management.

The Norfolk, VA-based Value Option’s lease was expiring and had made the decision to move, says Todd Noel, a senior associate with Trammell Crow Co.’s local office. He tells GlobeSt.com that the building’s new owner, Covington Asset Management, was key to keeping Value Options in the two-building complex at 10220-10240 N. 31st Ave.

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