PHOENIX-Transwestern has obtained the leasing assignment for the 364,533-sf 2800 Tower. The local team takes on the class A office building with a large tenant about to vacate the premises next month.
Jim Achen Jr., senior vice president in Transwestern's Phoenix office, says Southwest Catholic Healthcare Network Corp. will be leaving behind close to 100,000 sf of contiguous space in 2800 Central Ave. when it moves to another submarket. “There'll be 150,000 sf of space available overall,” Achen explains. “The team I put on this building has put away almost 400,000 sf of space in that market within the past couple of years.” In addition to Achen, the team includes senior vice president William Zurek, associate vice president Vince Femiano and associate Travis Ives.
“We'll shell out the larger floors that the tenant occupied for a long time and have wide-open space to show,” Achen tell GlobeSt.com. Additionally, Gaedeke Group LLC of Dallas plans to renovate some smaller spaces into ready-to-go office suites. The quoted rate is $22 per sf to $26 per sf, gross.
“The floor plates are 20,000 sf, it's on the light rail line and there is long-term ownership that's well capitalized and willing to spend money on TIs,” Achen adds. “Overall, the building's in very good shape.”
Cushman & Wakefield of Arizona Inc.'s Phoenix office was the 20-year-old building's previous leasing broker. C&W senior director Jerry Jacobs says there are no hard feelings from the assignment transition. “It was time for the owner to try a different tact and they felt they needed to take a different direction,” he says.
Jacobs adds that one challenge the building poses is a low parking ratio. But Achen points out that Southwest Catholic's departure will dramatically improve the parking situation.
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