CB Richard Ellis senior vice president Ashley A. Brooks Jr., who represented Tempe, AZ-based building owner Metro Commercial Properties, tells GlobeSt.com that both tenants looked at other locations. Ultimately, "Tata picked the building for the same reason Progressive did. Progressive has a higher-than-standard parking ratio. This building was able to accommodate them because University of Phoenix has mostly night-time parking needs," says Brooks, who partnered with CBRE senior vice president James G. Bayless and client services specialist Kelley Morrison on the transaction. University of Phoenix occupies about 90,000 square feet at the facility at 2550 W. Union Hills Dr.

Tata America International, headquartered in India, signed a six-year lease for 21,647 square feet, with plans to move into the space in late April. Wally Hale of Jones Lang LaSalle's Phoenix office was the tenant representative. Tata, which does business in the United States as TCS America, will use the space for software development on behalf of Fortune 500 clients.

Meanwhile, Mayfield Heights, OH-based Progressive Insurance will take 17,184 square feet for five years, and will relocate its business from 59th Avenue and Bell Road in June 2009. Jones Lang LaSalle's Pat Williams was on hand for the tenant. Progressive will use its new space for claims processing activities.

In addition to exceptional parking ratios, both tenants received signage on the building, which is on an Interstate 17 feeder road. Furthermore, Brooks says, Union Hills Office Plaza is close to many retail amenities, including Deer Valley Towne Center, Happy Valley Towne Center and Metrocenter Mall. A bus stop is located next to the building as well.

Though quoted rates were in the mid-20s per square foot, Brooks says the ask was discounted through up-front rental abatement. The landlord, which finished the spec building in 2007, also kicked in tenant improvements. Brooks says there is 9,000 square feet remaining, and he and his partners have a proposal out on the space.

Metro Commercial Properties is actively marketing the building for sale. Cushman & Wakefield of Arizona Inc. has the marketing assignment.