"Basically, we did some good upfront concessions, including some free rent and a grow-in," Jonathan Keyser, principal in Cresa Partners' Phoenix office, tells GlobeSt.com about the extra 12,303 sf at 4747 N. 22nd St. "The landlords were also able to fix a couple of issues that had arisen when they'd first moved in."
Calling the deal a "local success story," Keyser says the transaction means Jobing.com is filling half of the 49,212-sf building. "They'd been on the first floor for a little over a year. Now, they're going to take over the second floor," he says.
The transaction, Keyser adds, should also take care of any potential expansion needs. "We built in expansion capabilities through negotiating," he says.
Keyser and Gary Gregg, also with CRESA, represented the tenant. The property owner, Camroad Properties Ltd. of Phoenix, used in-house representation to broker the deal.
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